According to a three-year survey, the share of Colombian respondents without access to a banking account declined by 11 percentage points between 2017 and 2021. The decline seems especially fueled by the major decline of "unbanked" population - or those who or those who did not access to the services of a bank or another, similar financial organization - among the youngest respondents, as the share of 15-to 24-year-olds respondents declined from 67 percent in 2017 to 55 percent in 2021. The report adds that women in Colombia were more likely than men to be financially excluded from services like ATMs, credit cards, or financial products like insurance or mortgages.
Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level
Entire civilian, noninstitutionalized population; * The data for 2024 is a forecast calculated by Statista; The figures shown are from a global survey held every 3 years. Data for 2021 - the most recent year available - was released in June 2022.
Method of interview
Face-to-face interviews, telephone interviews
Supplementary notes
This question was phrased by the source as follows: "An account can be used to save money, to make or to receive payments, or to receive wages or financial help. Do you, either by yourself or together with someone else, currently have an account at a bank or another type of formal financial institution? Yes or no?"
The source only provided figures for those who answered "yes". The figures shown have been calculated.
Figures for 2024 are a forecast from Statista. Historical figures were used in a linear trend, to form a simple trend projection. This extrapolation uses the method of least squares.
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Statista. (March 11, 2023). Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/
Statista. "Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level." Chart. March 11, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/
Statista. (2023). Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/
Statista. "Share of Unbanked Individuals in Colombia in 2011, 2014, 2017 and 2021 with a Forecast for 2024, by Age, Gender, and Income Level." Statista, Statista Inc., 11 Mar 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/
Statista, Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/ (last visited November 10, 2024)
Share of unbanked individuals in Colombia in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph], Statista, March 11, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1455407/access-to-financial-services-in-colombia/
