Sri Lanka: Bank credit to the private sector

* indicates monthly or quarterly data series
 Sri Lanka

Bank credit to the private sector as percent of GDP

 Latest value 46.87
 Year 2019
 Measure percent
 Data availability 1960 - 2019
 Average 22.21
 Min - Max 7.23 - 46.87
 Source The World Bank
For that indicator, we provide data for Sri Lanka from 1960 to 2019. The average value for Sri Lanka during that period was 22.21 percent with a minimum of 7.23 percent in 1962 and a maximum of 46.87 percent in 2019. The latest value from 2019 is 46.87 percent. For comparison, the world average in 2019 based on 169 countries is 52.29 percent. 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 values chart
Sri Lanka - Bank credit to the private sector - Recent values chart

Historical chart
Sri Lanka - Bank credit to the private sector - historical chart - 1960-2019




Bank credit in Sri Lanka 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.

Related articles

Banking crises

Types of financial institutions



 Related indicators Latest value Reference Measure
 ATMs per 100,000 adults 17.20 2015 ATMs per 100,000 adults
 Bank branches per 100,000 people 18.63 2015 bank branches
 Firms using credit to finance investment 43.60 2011 percent
 Small firms with bank credit 35.00 2011 percent
 Percent people with credit cards 10.03 2021 percent
 Percent people with debit cards 52.61 2021 percent
 Domestic credit to the private sector 49.87 2019 percent
 Bank credit to the private sector 46.87 2019 percent
 Liquid liabilities, percent of GDP 63.02 2019 percent
 Bank assets to GDP 76.59 2019 percent
 Financial system deposits, percent of GDP 59.71 2019 percent
 Bank credit to government 26.91 2019 percent
 Banking system concentration 57.66 2021 percent
 Foreign bank assets 0.00 2013 percent of total bank assets
 Percent people with bank accounts 88.93 2021 percent
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