Colombia: Bank credit to the private sector

* indicates monthly or quarterly data series
 Colombia

Bank credit to the private sector as percent of GDP

 Latest value 41.96
 Year 2023
 Measure percent
 Data availability 1960 - 2023
 Average 30.17
 Min - Max 17.55 - 51.98
 Source The World Bank
The latest value from 2023 is 41.96 percent, a decline from 44.21 percent in 2022. In comparison, the world average is 50.06 percent, based on data from 149 countries. Historically, the average for Colombia from 1960 to 2023 is 30.17 percent. The minimum value, 17.55 percent, was reached in 1973 while the maximum of 51.98 percent was recorded in 2020. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Colombia - Bank credit to the private sector - Recent values chart

Historical series
Colombia - Bank credit to the private sector - historical chart - 1960-2023




Bank credit in Colombia and other countries is defined as the credit extended by the banking institutions to the private sector only: both firms and households. It does not include lending to the government.

Credit is essential for the economy to function well. It funds new investments and allows people to purchase houses, cars, and other items. Of course, excessive lending and borrowing usually end up in financial crises but, in principle, credit availability is good for economic development.

If the banking credit to the private sector is about 70 percent of GDP and more, then the country has a relatively well developed financial system. The amount of credit can even exceed 200 percent of GDP in some very advanced economies. In some poor countries, the credit could be less than 15 percent of GDP. In these countries, firms and households essentially do not have access to credit for investment and various purchases.
Definition: Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.

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 Related indicators Latest Reference Measure
 ATMs per 100,000 adults 40.02 2021 ATMs per 100,000 adults
 Bank accounts per 1000 adults 1,596.10 2021 bank accounts
 Bank branches per 100,000 people 12.78 2021 bank branches
 Firms using credit to finance investment 53.60 2017 percent
 Small firms with bank credit 50.30 2017 percent
 Percent people with credit cards 13.20 2021 percent
 Percent people with debit cards 28.94 2021 percent
 Domestic credit to the private sector 54.29 2020 percent
 Bank credit to the private sector 41.96 2023 percent
 Liquid liabilities, percent of GDP 55.21 2021 percent
 Bank assets to GDP 60.10 2021 percent
 Financial system deposits, percent of GDP 31.01 2021 percent
 Bank credit to government 10.30 2020 percent
 Banking system concentration 73.77 2021 percent
 Foreign bank assets 15.00 2013 percent of total bank assets
 Percent people with bank accounts 55.94 2021 percent
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