Percentage of Foreign Banks Among Total Banks for Nigeria
DDOI13NGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.00
Year-over-Year Change
133.33%
Date Range
1/1/1995 - 1/1/2013
Summary
The 'Percentage of Foreign Banks Among Total Banks for Nigeria' trend measures the share of foreign-owned banks operating in the Nigerian banking sector. This metric is important for economists and policymakers to understand the level of foreign participation and competition in the country's financial 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
This indicator tracks the percentage of banks in Nigeria that are majority-owned by foreign entities, such as international financial institutions or multinational corporations. It provides insight into the level of globalization and integration of the Nigerian banking industry with the broader global financial landscape.
Methodology
The data is collected and calculated by the World Bank based on its annual surveys of national banking sectors.
Historical Context
Policymakers and analysts use this metric to assess the openness and competitiveness of Nigeria's financial markets.
Key Facts
- Nigeria has one of the largest banking sectors in Africa.
- Foreign banks hold over 30% of total banking assets in Nigeria.
- The share of foreign banks has increased steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of banks in Nigeria that are majority-owned by foreign entities, providing insight into the level of foreign participation in the country's banking sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the competitiveness and integration of Nigeria's financial markets, which is relevant for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the World Bank based on surveys of the Nigerian banking industry.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to assess the openness and competitiveness of Nigeria's financial sector, which can inform policies related to banking, foreign investment, and financial market development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Percentage of Foreign Banks Among Total Banks for Nigeria (DDOI13NGA156NWDB), retrieved from FRED.