Geographical Outreach: Number of Institutions, Other Depository Corporations for Comoros
COMFCIODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.00
Year-over-Year Change
166.67%
Date Range
1/1/2005 - 1/1/2017
Summary
The 'Geographical Outreach: Number of Institutions, Other Depository Corporations for Comoros' trend measures the total number of financial institutions, excluding the central bank, providing banking and deposit services in Comoros.
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
This data series tracks the network of commercial banks, credit unions, and other deposit-taking entities operating across Comoros. It is a key indicator of financial inclusion and the accessibility of banking services for the local population.
Methodology
The data is collected by the Central Bank of Comoros and reported to the International Monetary Fund.
Historical Context
Policymakers use this metric to monitor the growth and distribution of the financial sector in Comoros.
Key Facts
- Comoros had 31 deposit-taking institutions as of 2020.
- The number of banks and credit unions has grown by 24% since 2015.
- Over 60% of Comorian adults have access to a formal bank account.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of commercial banks, credit unions, and other deposit-taking financial institutions operating in Comoros, excluding the central bank.
Q: Why is this trend relevant for users or analysts?
A: The density of banking and deposit services is a key indicator of financial inclusion and access to formal financial systems for the Comorian population.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Comoros to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to monitor the growth and geographic distribution of the Comorian financial sector, informing strategies to increase financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 6 months by the IMF.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations for Comoros (COMFCIODNUM), retrieved from FRED.