Number of banks reached 11.0 banks in 2018 in Madagascar, according to the National Central Bank. This is the same as in the previous year.
Historically, number of banks in Madagascar reached an all time high of 11.0 banks in 2010 and an all time low of banks in. When compared to Madagascar's main peers, number of banks in Mozambique amounted to 18.0 banks, 36.0 banks in South Africa and 5.00 banks in Swaziland in 2018.
Madagascar has been ranked 128th within the group of 156 countries we follow in terms of number of banks, 12 places above the position seen 10 years ago.