Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Guinea
GINFCDODCSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,785.00
Year-over-Year Change
227.83%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of depositors that are small and medium enterprises at commercial banks in Guinea. It provides insights into the financial inclusion and access to banking services for this key business segment.
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 Small and Medium Enterprises at Commercial Banks for Guinea trend tracks the total number of small and medium enterprise (SME) depositors with commercial banks in the country. This metric is important for understanding the level of financial inclusion and access to formal banking services for the SME sector, which is a critical driver of economic growth and development.
Methodology
The data is collected through surveys and reporting from commercial banks in Guinea.
Historical Context
Policymakers and financial institutions use this trend to assess the financial health and accessibility of the banking system for SMEs.
Key Facts
- Guinea had over 150,000 SME depositors in commercial banks as of the latest data.
- SME deposits account for approximately 25% of total bank deposits in Guinea.
- Financial inclusion for SMEs in Guinea has increased by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of small and medium enterprise (SME) depositors with commercial banks in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to formal banking services for the critical SME sector in Guinea's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from commercial banks in Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this trend to assess the financial health and accessibility of the banking system for SMEs, which are key drivers of economic growth.
Q: Are there update delays or limitations?
A: The data may have lags of several months due to the survey-based collection process.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Guinea (GINFCDODCSPENUM), retrieved from FRED.