Use of Financial Services: Number of Loan Accounts at Commercial Banks for Guinea
GINFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
223,447.00
Year-over-Year Change
222.76%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the number of loan accounts held at commercial banks in Guinea. It provides insight into the level of financial inclusion and banking activity 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
The number of loan accounts at commercial banks is a key indicator of access to formal financial services. This metric helps economists and policymakers understand the depth of financial intermediation and credit availability within the Guinean economy.
Methodology
The data is collected and reported by the Central Bank of Guinea.
Historical Context
This trend is used to monitor financial development and guide policies aimed at promoting greater financial inclusion.
Key Facts
- Guinea is a low-income country in West Africa.
- The banking sector in Guinea is relatively underdeveloped.
- Access to formal financial services remains a challenge for many Guineans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held at commercial banks in Guinea. It provides insight into the level of financial inclusion and banking activity in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of loan accounts is a key indicator of access to formal financial services, which is crucial for economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Guinea.
Q: How is this trend used in economic policy?
A: This trend is used to monitor financial development and guide policies aimed at promoting greater financial inclusion in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or limitations in coverage, as the financial sector in Guinea is still developing.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Guinea (GINFCNODCNUM), retrieved from FRED.