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In november 2019 the financial institution registered a total of 36,257 savings accounts in the country, one year later the amount of people who had opened a bank account had risen to 100,888 people, this in the context of the pandemic.
However, by 2021 the growth was not as exponential, as only 140,121 new accounts were registered in the country's financial system in november of that year. A year later in 2022 around 60,000 accounts were added to the banking systems reaching a total of 199,222 bank accounts.
In 2023 the Superintendency registered an increase of 112,420 registered bank accounts, which has raised the number of salvadorans using this service in the country to a total of 311,642.
It is worth noting that in recent years several institutions have added new services, which can be used within the savings account apps such as Transfer365, which helps transfer money between bank accounts at no cost and was developed by the Banco Central de Reserva.
Translated by: A.M