North Macedonia: Financial institutions development, efficiency

The latest value from 2021 is 0.686 index points, an increase from 0.659 index points in 2020. In comparison, the world average is 0.585 index points, based on data from 178 countries. Historically, the average for North Macedonia from 1992 to 2021 is 0.527 index points. The minimum value, 0.293 index points, was reached in 1994 while the maximum of 0.686 index points was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Measures the efficiency of financial institutions. Constructed using the Principal Component methodology using the following variables: Net interest margin, Lending-deposits spread, Non-interest income to total income, Overhead costs to total assets, Return on assets, and Return on equity. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.