Geographical Outreach: Number of Commercial Banks for Slovak Republic
SVKFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.00
Year-over-Year Change
-16.67%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of commercial banks operating in the Slovak Republic. It is an important indicator of financial sector development and access to banking services.
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 commercial banks in a country reflects the diversity and depth of the financial system. This metric is used by economists and policymakers to assess the geographical outreach and accessibility of the banking sector.
Methodology
The data is collected and reported by the National Bank of Slovakia.
Historical Context
This trend provides insight into financial inclusion and the evolution of the Slovak banking market.
Key Facts
- The number of commercial banks in Slovakia has declined from a peak of 29 in 2008 to 25 in 2021.
- Slovakia has a relatively concentrated banking sector, with the top 3 banks accounting for over 60% of total assets.
- Improving geographical access to banking services is a key policy priority for the Slovak government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks operating in the Slovak Republic. It provides an indicator of the depth and accessibility of the country's banking sector.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks is an important metric for understanding financial inclusion, competition, and development in the Slovak banking market.
Q: How is this data collected or calculated?
A: The data is collected and reported by the National Bank of Slovakia, the country's central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the evolution of the Slovak banking sector and inform policies aimed at promoting financial access and 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 minor revisions to historical data over time.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Slovak Republic (SVKFCIODCNUM), retrieved from FRED.