Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Philippines
PHLFCBODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,979.00
Year-over-Year Change
-5.61%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of branches, excluding headquarters, for other deposit takers in the Philippines. It provides insight into the geographical outreach and accessibility of the Philippines' banking and financial services 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 'Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Philippines' metric tracks the total number of branch locations operated by financial institutions in the Philippines, excluding their main headquarters. This data is used by economists and policymakers to assess the geographic distribution and accessibility of the country's banking and financial services.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This trend is closely monitored by regulators, policymakers, and financial analysts to evaluate the growth and penetration of the Philippines' banking and financial services sector.
Key Facts
- The Philippines had 10,314 bank branches as of 2020.
- Branch network expansion is a key strategy for increasing financial inclusion in the Philippines.
- Rural areas of the Philippines have historically had lower branch density.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of bank and financial institution branches, excluding headquarters, operating in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the geographic coverage and accessibility of banking and financial services in the Philippines, which is important for assessing financial inclusion and economic development.
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 regulators monitor this trend to evaluate the growth and penetration of the Philippines' banking and financial services sector, which is crucial for supporting economic development and financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture recent branch network changes or expansions.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Philippines (PHLFCBODDNUM), retrieved from FRED.