Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Colombia
COLFCDODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64,821,648.00
Year-over-Year Change
82.20%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the number of household depositors at commercial banks in Colombia. It provides insights into the level of household financial inclusion and participation in the formal banking system.
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: Number of Depositors which are Households at Commercial Banks for Colombia' series tracks the total number of household deposit accounts held at commercial banks in the country. This metric is used to assess the degree of financial access and engagement among the Colombian population.
Methodology
The data is collected by the Central Bank of Colombia through surveys of the commercial banking sector.
Historical Context
This trend is relevant for policymakers and analysts studying financial inclusion and the development of Colombia's banking industry.
Key Facts
- Colombia had over 37 million household deposit accounts in 2021.
- The number of household depositors has grown by over 50% since 2010.
- Over 90% of Colombian adults now have access to a formal bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at commercial banks in Colombia. It provides an indicator of financial inclusion and access to the formal banking system.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the development and penetration of the banking industry in Colombia, as well as progress towards broader financial inclusion goals.
Q: How is this data collected or calculated?
A: The data is collected through surveys of the commercial banking sector by the Central Bank of Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this trend to monitor financial access, identify underserved populations, and develop strategies to expand banking services and promote household savings.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into the Colombian banking industry.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Commercial Banks for Colombia (COLFCDODCHPENUM), retrieved from FRED.