Exhibit 4: Large Proportion of Unbanked Individuals Raises Importance of Microfinancing for Microbusinesses: Global Breakdown of Unbanked Adult Population (in %) by Country for 2019 … While the poor don’t have the same access to financial products, their need for financial services may be even greater. This figure translates to about 13% of the total world’s population without access to banks. With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion ... November 25, 2019 by thiha. country based on 2005 population data. While India is quite proud about adding more individuals into the formal banking system -- the number of people with bank accounts grew from 53% in 2014 to 80% in 2017 -- … While in Western and Central Europe a relatively low 6% of the population experiences a measure of financial exclusion, the proportion reaches 21% in North America—a figure that closely mirrors a 2019 report by the Federal Reserve showing that 22% of adults in the United States (or 63 million) were underbanked (16%) or fully unbanked (6%). Despite improving connectivity, many countries in Asia still show large percentages of the ‘unbanked,’ or people who simply do not have ownership or access to traditional bank accounts. The Federal Reserve estimated there are 55 million unbanked or underbanked adult Americans in 2018, which account for 22 percent of U.S. households. Twenty-five percent of U.S. households are unbanked or underbanked, according to a 2017 survey by the FDIC. Those are people who either don't have a … unbanked population to be halved by 2025. Of the global 1.7 billion people unbanked in the world, China accounts for about 224 million people. As illustrated in Figure 1, only 2.2 billion of these adults used some form of formal financial services to borrow and/or save. Half of the adults around the world – around 2.5 billion people – don’t use formal financial services, and 75% of poor people are unbanked because of costs, travel distances and burdensome requirements involved in opening a financial account. The country with the highest population in the world also has the highest population without access to bank accounts. 2.5 billion adults, just over half of the world’s adult population, did not use any for- [citation needed] One report found the nationwide rates to be 7.7% unbanked and 17.9% underbanked, with the most unbanked state Mississippi, at 16.4%. In 2005, out of a total world population of 6.4 billion people, 4.7 billion were adults. After the pandemic, Indonesia’s top banks will aim for 10% reduction in capex to maintain core systems, including multichannel systems. Not surprisingly, the largest countries in the world in terms of population are China and India, with both countries now having populations of well over a billion.The United States comes in third with just under 325 million residents. IMF study shows Botswana’s quantum leap in ‘banking the unbanked’ MBONGENI MGUNI Friday, October 04, 2019 Botswana's unbanked population is getting smaller Southeast Asia alone has 650 million unbanked individuals. In 2019 there were over 5 billion unique mobile users, which is 67% of the total population according to Hootsuite and WeAreSocial. Unbanked population in country to be reduced to under 20% by 2025. The …
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