Number of Deposit Accounts, Commercial Banks, of Which: Household in Madagascar
Madagascar: Number of Deposit Accounts, Commercial Banks, of Which: Household was 17.20 million in 2024. ◆ Volatile
Number of Deposit Accounts, Commercial Banks, of Which: Household in Madagascar, 2004–2024
Source: International Monetary Fund.
Analysis
The most recent figure for number of deposit accounts, commercial banks, of which: household in Madagascar is 17.20 million, measured in 2024. That is the highest value across all 21 years on record.
That represents a change of up 16.9% on the previous year and up 1,756.4% over ten years.
Over the whole period, number of deposit accounts, commercial banks, of which: household in Madagascar peaked at 17.20 million in 2024 and was at its lowest, 163,654, in 2004.
That places Madagascar 31st out of 94 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Number of Deposit Accounts, Commercial Banks, of Which: Household in Madagascar, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 163,654 | — |
| 2005 | 195,492 | +19.5% |
| 2006 | 206,691 | +5.7% |
| 2007 | 242,707 | +17.4% |
| 2008 | 375,410 | +54.7% |
| 2009 | 412,206 | +9.8% |
| 2010 | 467,889 | +13.5% |
| 2011 | 617,504 | +32.0% |
| 2012 | 645,123 | +4.5% |
| 2013 | 858,140 | +33.0% |
| 2014 | 926,791 | +8.0% |
| 2015 | 1.21 million | +30.4% |
| 2016 | 1.33 million | +9.8% |
| 2017 | 804,441 | -39.4% |
| 2018 | 1.20 million | +49.1% |
| 2019 | 1.92 million | +59.7% |
| 2020 | 2.04 million | +6.5% |
| 2021 | 10.00 million | +390.0% |
| 2022 | 12.14 million | +21.5% |
| 2023 | 14.72 million | +21.3% |
| 2024 | 17.20 million | +16.9% |
Madagascar compared with similar countries
- Madagascar's 17.20 million is above the median for low income countries, which is 711,898, 24.2× the median. (8 countries reporting)
- Madagascar's 17.20 million is above the median for Sub-Saharan Africa, which is 786,037, 21.9× the median. (21 countries reporting)
Biggest year-on-year movements
Years where Number of Deposit Accounts, Commercial Banks, of Which: Household in Madagascar changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2021 | +390.0% | 2.04 million | 10.00 million |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 266,027 | 163,654 | 412,206 | 6 |
| 2010s | 997,047 | 467,889 | 1.92 million | 10 |
| 2020s | 11.22 million | 2.04 million | 17.20 million | 5 |
Countries ranked near Madagascar
More financial sector data for Madagascar
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.28 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.9354 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.28 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is number of deposit accounts, commercial banks, of which: household in Madagascar?
- Number of deposit accounts, commercial banks, of which: household in Madagascar was 17.20 million in 2024, according to International Monetary Fund.
- What is the highest number of deposit accounts, commercial banks, of which: household recorded in Madagascar?
- The highest recorded value was 17.20 million in 2024.
- What is the lowest number of deposit accounts, commercial banks, of which: household recorded in Madagascar?
- The lowest recorded value was 163,654 in 2004.
- How does Madagascar rank for number of deposit accounts, commercial banks, of which: household?
- Madagascar ranks 31st out of 94 countries with data for 2024.
- Is number of deposit accounts, commercial banks, of which: household rising or falling in Madagascar?
- Over the last ten years it is up 1,756.4%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from International Monetary Fund, published as part of Number of Deposit Accounts, Commercial Banks, of Which: Household Sector Deposit Accounts. Statizoid updates them automatically from the source API.
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About this data
Gender-disaggregated data on access to and use of financial services.