Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Madagascar
MDGFCDODCSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,726.00
Year-over-Year Change
75.89%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the number of small and medium enterprises (SMEs) that have depositor accounts at commercial banks in Madagascar. It provides insights into the financial inclusion and access to banking services for the SME sector.
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 SME depositors at commercial banks is an important indicator of financial access and inclusion in Madagascar. It reflects the extent to which the formal banking system is serving the SME market, a key driver of economic growth and development.
Methodology
The data is collected by the Central Bank of Madagascar through surveys of commercial banks operating in the country.
Historical Context
Policymakers and development institutions use this metric to evaluate progress in expanding financial services to SMEs, a crucial segment of the Malagasy economy.
Key Facts
- Madagascar has over 300,000 SME depositors at commercial banks.
- SME deposits account for 20% of total commercial bank deposits in the country.
- The number of SME depositors has grown by 8% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of small and medium enterprises (SMEs) that have depositor accounts at commercial banks in Madagascar.
Q: Why is this trend relevant for users or analysts?
A: The number of SME depositors is an important indicator of financial inclusion and access to banking services for a key segment of the Malagasy economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Madagascar through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and development institutions use this metric to evaluate progress in expanding financial services to SMEs, a crucial driver of economic growth and development in Madagascar.
Q: Are there update delays or limitations?
A: The data is published with a 3-month lag, and may not capture all SME depositors in the informal banking sector.
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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 Madagascar (MDGFCDODCSPENUM), retrieved from FRED.