Only 12 states in Nigeria have up to 100 commercial bank branches

Ten states in Nigeria account for 67% of all commercial bank branches. Lagos has over 1,000 branches, while no other state has more than 350. Thirteen states have less than 50 branches each, and Yobe, Ebonyi, and Taraba each have less than 25.

Source:

The Nigerian Financial Services Market Report

Period:

2023
HTML code to embed chart
Want a bespoke report?
Reach out
Tags
Related Insights

Zenith Bank remained Nigeria's most profitable bank in 2024, with a profit after tax (PAT) of ₦1.03 trillion, a 53% increase from the 2023 value
Key takeaways:
Zenith Bank Plc led the profitability ranking with a Profit After Tax (PAT) of ₦1.03 trillion.
Guaranty Trust Holding Company...

Ecobank is now Nigeria’s largest publicly listed bank by total assets, after a 67% surge, dethroning Access Holdings in 2024
Key takeaways:
Ecobank Transnational Incorporated ranks first with total assets of ₦43.3 trillion, marking a 67% increase from 2023.
Access Holdings Plc...

Five of Africa's top ten most profitable banks in 2024 are South African
Key takeaways:
Africa's ten most profitable banking institutions are concentrated in South Africa, Egypt, and Nigeria.
South African and Egyptian banks claim...

Sterling Bank has evolved through mergers, acquisitions and strategic evolution
Sterling Bank's origins trace back to 1960 as Nigeria Acceptances Limited, later becoming the first merchant bank in 1969
In 2006,...

The evolving brand of Nigeria’s oldest banking institution
FirstBank has undergone multiple transformations since its establishment in 1894, adapting to industry shifts and regulatory changes.
The bank transitioned from...

Polaris Bank has demonstrated remarkable resilience and a commitment to innovation
Key takeaways:
Polaris Bank traces its roots back to the establishment of Prudent Bank Plc in 1989.
Prudent Merchant Bank Limited merged...

POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form

©2025
A product of Techpoint Africa. All rights reserved