Geographical Outreach: Number of Commercial Banks for Guinea
GINFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.00
Year-over-Year Change
58.33%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Geographical Outreach: Number of Commercial Banks for Guinea' trend measures the total number of commercial banks operating in Guinea. This data point is important for economists and policymakers to assess the level of financial inclusion and access to banking 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
This economic indicator tracks the count of commercial banks with physical branch locations throughout Guinea. It provides insight into the geographic spread and reach of the formal banking sector, which is a key driver of financial development and economic growth.
Methodology
The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Historical Context
Policymakers use this metric to evaluate financial sector development and identify areas for improving banking infrastructure and services.
Key Facts
- Guinea had 14 commercial banks as of the latest data.
- The number of commercial banks in Guinea has grown by 40% over the past decade.
- Rural areas of Guinea remain underserved by the formal banking sector.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of commercial banks operating with physical branch locations throughout Guinea.
Q: Why is this trend relevant for users or analysts?
A: The geographic reach of the banking sector is a key driver of financial inclusion and economic development, so this metric provides important insights for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to evaluate financial sector development and identify areas for improving banking infrastructure and services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all small or informal banking entities in remote regions.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Guinea (GINFCIODCNUM), retrieved from FRED.