Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Congo
CODFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,355,050.00
Year-over-Year Change
738.76%
Date Range
1/1/2009 - 1/1/2018
Summary
This economic trend measures the number of deposit accounts at commercial banks in the Democratic Republic of the Congo. It provides insight into the use of formal financial services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Congo series tracks the total number of deposit accounts held at commercial banks in the Democratic Republic of the Congo. This metric serves as an indicator of financial inclusion and access to formal banking services within the Congolese economy.
Methodology
The data is collected by the World Bank through surveys of national financial institutions.
Historical Context
Policymakers and economists use this trend to assess the development of the Congolese financial sector and progress toward greater financial inclusion.
Key Facts
- The number of deposit accounts in Congo has grown from 1.2 million in 2004 to 5.7 million in 2017.
- Only 27% of adults in Congo had a bank account as of 2017.
- Increasing financial inclusion is a key development goal for the Congolese government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in the Democratic Republic of the Congo. It provides insight into the use of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development of the Congolese financial sector and progress toward greater financial inclusion, which is a key policy priority.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through surveys of national financial institutions.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the state of financial inclusion and access to formal banking services in the Democratic Republic of the Congo.
Q: Are there update delays or limitations?
A: The data is published with some delay, and coverage may be limited to certain regions or financial institutions within the country.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Congo (CODFCAODCNUM), retrieved from FRED.