Geographical Outreach: Number of Commercial Banks for Madagascar
MDGFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.00
Year-over-Year Change
18.18%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Geographical Outreach: Number of Commercial Banks for Madagascar' metric tracks the total number of commercial banks operating across different regions of Madagascar. This data provides insights into the accessibility and penetration of the country's banking 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 economic indicator represents the geographical footprint of Madagascar's commercial banking industry. It is an important measure of financial inclusion and economic development, as broader banking access can support greater investment, savings, and credit access for businesses and households.
Methodology
The data is collected and reported by the Central Bank of Madagascar.
Historical Context
Policymakers and economists use this metric to evaluate progress in expanding financial services nationwide.
Key Facts
- Madagascar had 27 commercial banks as of the latest data.
- Bank branch density is higher in urban areas compared to rural regions.
- Financial inclusion remains a challenge, with only 17% of adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of commercial banks operating across different regions of Madagascar. It provides insights into the geographical footprint and accessibility of the country's banking system.
Q: Why is this trend relevant for users or analysts?
A: Broader banking access is a key driver of financial inclusion and economic development. This metric helps policymakers and economists evaluate progress in expanding financial services nationwide.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Madagascar.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the banking industry's geographical outreach and identify areas where further expansion may be needed to improve financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically a few months after the end of the reporting period. There may be some limitations in coverage or consistency across different regions of Madagascar.
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Consolidated Foreign Claims of BIS-Reporting Banks to GDP for Madagascar
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Real Effective Exchange Rate as Based on Consumer Price Index for Madagascar
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Madagascar (MDGFCIODCNUM), retrieved from FRED.