Use of Financial Services: Number of Depositors at Commercial Banks for Saudi Arabia
SAUFCDODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,011,997.00
Year-over-Year Change
235.13%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend tracks the number of depositors at commercial banks in Saudi Arabia, providing insights into the utilization of financial services 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 Use of Financial Services: Number of Depositors at Commercial Banks for Saudi Arabia measures the total number of individuals who hold deposit accounts at commercial banks operating in Saudi Arabia. This metric is a key indicator of financial inclusion and the overall level of access to formal banking services within the Saudi economy.
Methodology
The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA), the central bank of Saudi Arabia.
Historical Context
This trend is used by policymakers, economists, and financial analysts to assess the depth and breadth of the Saudi financial system and monitor progress in expanding financial inclusion.
Key Facts
- Saudi Arabia had over 36 million depositors at commercial banks as of 2021.
- The number of depositors has grown by over 50% since 2010.
- Approximately 73% of the Saudi population held a bank account as of 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who hold deposit accounts at commercial banks operating in Saudi Arabia, providing insights into financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and financial analysts as it offers insights into the depth and breadth of the Saudi financial system and the progress made in expanding financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Saudi Arabian Monetary Authority (SAMA), the central bank of Saudi Arabia.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and financial analysts to assess the state of financial inclusion and access to formal banking services in Saudi Arabia, which can inform policies and initiatives aimed at promoting greater financial inclusion.
Q: Are there update delays or limitations?
A: The data is reported by SAMA with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Commercial Banks for Saudi Arabia (SAUFCDODCPENUM), retrieved from FRED.