Washington, D.C., July 9, 2013—IFC,
a member of the World Bank Group, and the Consultative Group to Assist
the Poor today released the Financial
Access 2012: Getting to a More Comprehensive Picture
report, which assesses the state of the financial inclusion globally.
The report is based on data from the International Monetary Fund’s Financial
Access Survey, a survey of financial regulators in 187 jurisdictions that
covers access to deposits, loans, and insurance by households and enterprises.
“With 75 percent of the world’s poor
still having no access to formal financial services, the international
momentum among policymakers to expand access to financial services to households
and enterprises remains strong,” said Peer Stein, Director of IFC’s Access
to Finance Advisory Services. “This annual report offers invaluable insight
on the links between financial inclusion and economic development, helping
shape policy debate.”
Financial Access 2012 shows
a clear—albeit still nascent—recovery from the financial crisis, with
both growth rates of deposit and loan penetration picking up strongly in
2011. The growth rate of deposit accounts was higher than the growth rate
of loan accounts, suggesting that after the crisis, people’s willingness
to save may have been greater than their willingness to take on new loans.
The number of bank branches and automatic
teller machines has increased rapidly since 2004, which has in turn deepened
access to commercial banking services worldwide. The world as a whole had
47 ATMs and 17 commercial bank branches per 100,000 adults in 2011.
Data also show that higher-income countries
tend to have more developed finance markets for small and medium enterprises
than developing countries. In low-income countries, only a small percentage
of enterprise loan accounts are held by SMEs.
Tilman Ehrbeck, CEO and Director of
CGAP, said: “2012 was a milestone year for financial inclusion data. Thanks
to IMF’s FAS and the World Bank’s Global Findex, we have the most extensive
supply- and-demand-side data available to date on a global scale. And the
better the data, the more purposeful and evidence-based policymaking can
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.
The Consultative Group to Assist the
Poor works toward a world in which everyone has access to the financial
services they need to improve their lives.
CGAP develops innovative solutions for
financial inclusion through practical research and active engagement with
financial service providers, policy makers, and funders. Established in
1995 and housed at the World Bank, CGAP combines a pragmatic approach to
market development with an evidence-based advocacy platform to advance
poor people’s access to finance.