Bank or similar financial institution account in Madagascar

Madagascar: Bank or similar financial institution account was 9.5% in 2024. ▲ Rising

Latest (2024)
9.5%
Change on year
down 32.5%
World rank
115th
of 115 countries
All-time high
14.0%
in 2022
All-time low
5.5%
in 2011
Years of data
5
2011–2024

Bank or similar financial institution account in Madagascar, 2011–2024

0510152011201720242011: 5.5 % age 15+2014: 5.7 % age 15+2017: 9.6 % age 15+2022: 14 % age 15+2024: 9.5 % age 15+

Source: Global Findex Database. Measured in % age 15+.

Analysis

In 2024, bank or similar financial institution account in Madagascar stood at 9.5%.

The figure is down 32.5% on the previous year and up 65.1% over ten years.

Over the whole period, bank or similar financial institution account in Madagascar peaked at 14.0% in 2022 and was at its lowest, 5.5%, in 2011.

That places Madagascar 115th out of 115 countries with data for 2024, putting it in the bottom quarter.

Bank or similar financial institution account in Madagascar, year by year

Annual values for Bank or similar financial institution account (% age 15+) in Madagascar, 2011 to 2024.
Year % age 15+ Change
2011 5.5%
2014 5.7% +3.7%
2017 9.6% +67.1%
2022 14.0% +46.3%
2024 9.5% -32.5%

Averages by decade

DecadeAverage LowestHighest Years
2010s 6.9% 5.5% 9.6% 3
2020s 11.7% 9.5% 14.0% 2

Countries ranked near Madagascar

  1. 112 Democratic Republic of Congo 13.5% compare
  2. 113 Niger 12.7% compare
  3. 114 Malawi 12.4% compare

See the full ranking of 127 places →

More reference data data for Madagascar

All data for Madagascar →

Frequently asked questions

What is bank or similar financial institution account in Madagascar?
Bank or similar financial institution account in Madagascar was 9.5% in 2024, according to Global Findex Database.
What is the highest bank or similar financial institution account recorded in Madagascar?
The highest recorded value was 14.0% in 2022.
What is the lowest bank or similar financial institution account recorded in Madagascar?
The lowest recorded value was 5.5% in 2011.
How does Madagascar rank for bank or similar financial institution account?
Madagascar ranks 115th out of 115 countries with data for 2024.
Is bank or similar financial institution account rising or falling in Madagascar?
Over the last ten years it is up 65.1%. The long-run trend across the full record is rising.
Where does this Madagascar data come from?
The figures come from Global Findex Database, published as part of Bank or similar financial institution account (% age 15+). Statizoid updates them automatically from the source API.

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Bank or similar financial institution account in Madagascar. Statizoid, drawing on Global Findex Database. Retrieved 27 August 2026, from https://reference.statizoid.com/stat/bank-or-similar-financial-institution-account-percent-age-15/madagascar/

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About this data

Indicator
Bank or similar financial institution account (% age 15+)
Unit
% age 15+
Source
Global Findex Database
Licence
CC BY 4.0 (World Bank Open Data)
Coverage
127 places, 635 data points, 2011–2024
Last refreshed

The percentage of respondents who report having an account (by themselves or together with someone else) at a bank or another similar financial institution, (% age 15+)