Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Philippines
PHLFCBODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,713.00
Year-over-Year Change
31.42%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of branches, excluding headquarters, for commercial banks in the Philippines. It provides insights into the geographical outreach and accessibility of the Philippine 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
The Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Philippines trend tracks the number of physical banking locations operated by commercial banks in the country, excluding their main headquarters. This data point is used by economists and policymakers to assess the breadth of the banking network and gauge financial inclusion efforts.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This trend is relevant for analyzing the financial sector's development and the accessibility of banking services across the Philippines.
Key Facts
- The Philippines had 10,798 commercial bank branches as of 2021.
- Branch network growth has accelerated in recent years, reflecting efforts to expand financial inclusion.
- Rural areas remain underserved, with uneven branch distribution across the archipelago.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of physical banking locations, excluding headquarters, operated by commercial banks in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the geographic coverage and accessibility of the Philippine banking system, which is crucial for assessing financial inclusion and the development of the financial sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the expansion of the banking network and inform efforts to improve financial access and inclusion throughout the Philippines.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bangko Sentral ng Pilipinas, but there may be some delays in reporting due to the distributed nature of the banking network across the archipelago.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Philippines (PHLFCBODCNUM), retrieved from FRED.