By Boluwatife Oshadiya | July 8, 2026
KEY POINTS
• Access Bank leads Nigeria’s branch race with 554 locations, the largest physical banking footprint in the country and over 700 branches across Africa
• FirstBank and Zenith Bank follow with 550 and 406 branches respectively, with the top three banks together accounting for over 1,400 branches nationwide
• Physical branch networks remain strategically relevant despite the rise of mobile apps, USSD banking, and agency banking across Nigeria
• Nigeria’s top seven banks by branch count collectively hold combined assets running into tens of trillions of naira, reflecting the scale of institutions sustaining large physical networks
• Approximately 36% of Nigerian adults remain unbanked, according to EFInA data, underscoring why branch presence and financial inclusion remain central to banking strategy in 2026
MAIN STORY
In an era of mobile apps and USSD banking, Nigeria’s largest lenders have not abandoned the branch. Across Africa’s biggest economy, the country’s top commercial banks collectively operate thousands of physical locations, reflecting a deliberate strategy to serve a large, diverse, and still largely cash-reliant population — one where approximately 36% of adults remain unbanked, according to the Enhancing Financial Innovation and Access (EFInA) survey.
Data compiled by Nairametrics Research from banks’ 2025 annual reports and investor presentations, as well as available branch locators, show that Access Bank, FirstBank, and Zenith Bank remain the most visible lenders in Nigeria by branch network. Together, the three banks operate more than 1,400 branches, underscoring the continued relevance of physical banking infrastructure even as digital rails carry trillions of naira in daily transactions.
Nigeria’s digital economy is growing rapidly — the Central Bank of Nigeria’s Fintech Policy Insight Report, released in February 2026, confirmed that nearly 11 billion transactions were processed through the NIBSS Instant Payment (NIP) platform in 2024, more than double the roughly 5 billion recorded in 2022. Yet even as digital payments expand at pace, financial access remains uneven. The CBN, under Governor Olayemi Cardoso, has set a target of 95% financial inclusion and 50 million new accounts under its Nigeria Payment System Vision 2028 (PSV 2028) initiative.
It is in this context — a market simultaneously racing toward digital and still rooted in physical access — that Nigeria’s branch banking story carries its full weight. Although mobile apps, USSD banking, agency banking, and online platforms have reshaped customer service delivery, Nigeria’s biggest banks continue to maintain large physical networks to support retail customers, corporate clients, and underserved communities. Below is a breakdown of the seven banks with the largest branch networks in Nigeria.
#7. FCMB — 206 Branches
First City Monument Bank (FCMB) opens Nigeria’s top seven by branch count, operating 206 branches across the country, supported by 4,932 employees. The mid-tier lender has built its physical presence around retail, SME, and commercial banking growth, combining branch access with a growing suite of digital banking tools.
FCMB’s total assets rose to N7.63 trillion in 2025 from N7.05 trillion in 2024, an increase of 8.18%. Customer deposits also grew to N4.42 trillion from N4.30 trillion, a modest rise of 2.84% year-on-year. The bank’s relatively measured asset and deposit growth reflects the competitive pressures faced by mid-tier Nigerian lenders as the sector navigates the CBN’s ongoing recapitalisation programme.
FCMB’s 206 branches serve as the foundation of its retail franchise, allowing it to reach customers in markets where digital channels alone may not suffice. The bank continues to position physical branches as touchpoints for customer acquisition, loan origination, and service delivery — particularly for the SME segment, which remains a key strategic pillar.
#6. GTBank — 240 Branches
Guaranty Trust Bank (GTBank), a subsidiary of GTCO Holdings, operates 240 branches across Nigeria and maintains a wider continental presence of more than 350 branches across Africa, according to its investor presentations. The bank is supported by 5,976 employees.
GTBank’s total assets grew to N17.76 trillion in 2025 from N14.80 trillion in 2024, reflecting a 20.04% increase. Customer deposits increased to N12.55 trillion from N10.01 trillion, a growth of 25.31% year-on-year. These figures reflect GTBank’s continued ability to attract deposits and grow its balance sheet even as it maintains one of the more compact branch networks among Nigeria’s tier-one lenders.
GTBank’s compact physical footprint has long been a deliberate choice. The bank has built its reputation on digital banking, operational efficiency, and high-volume customer service delivery through technology-led channels. Its 240 branches serve as high-quality touchpoints rather than mass-market distribution infrastructure, consistent with GTBank’s premium brand positioning. In 2026, the bank has also been active in the airtime credit market, launching a Quick Airtime Loan product through its popular *737# USSD platform at 2.95% interest — a signal that GTBank’s digital strategy continues to expand into new service categories.
#5. Ecobank — 273 Branches
Ecobank Nigeria maintains 273 branches in Nigeria, but the story of this pan-African banking group extends far beyond its domestic footprint. The bank holds 626 touchpoints across the African continent, according to its annual report, making it one of the most geographically distributed banking groups on the continent.
The bank recorded one of the largest balance sheets in the industry. Total assets rose to N49.66 trillion in 2025 from N43.30 trillion in 2024, an increase of 14.68%, while customer deposits increased to N36.44 trillion from N31.64 trillion, a growth of 15.18% year-on-year. Ecobank’s asset size — among the largest of any bank reviewed in this ranking — stands in notable contrast to its relatively moderate branch count within Nigeria, reflecting its strength as a corporate and institutional lender rather than a mass retail branch operator.
Ecobank’s Nigerian branch network supports its domestic retail and commercial banking ambitions while plugging into the group’s broader pan-African infrastructure. For large corporate clients, the value proposition is less about branch proximity and more about cross-border banking capability — a dimension that few Nigerian-domiciled competitors can match.
#4. United Bank for Africa (UBA) — 327 Branches
United Bank for Africa (UBA) operates 327 branches in Nigeria and maintains more than 1,000 branches and touchpoints across Africa, according to its 2025 investor presentations. The bank is supported by 10,814 employees, one of the largest workforces in the sector.
UBA’s total assets increased to N33.17 trillion in 2025 from N30.32 trillion in 2024, a growth of 9.40%. Customer deposits rose to N23.95 trillion from N21.89 trillion, representing a 9.38% increase year-on-year. The bank’s financial results reflect steady but measured growth — consistent with a pan-African institution managing a highly distributed business across multiple markets and regulatory environments.
UBA’s global ambitions have extended beyond Africa. In 2025, the bank launched a new branch at the Dubai International Financial Centre (DIFC) in the United Arab Emirates, extending its physical footprint into the Middle East. This move positions UBA to serve the Nigerian and African diaspora in the Gulf region and deepen correspondent banking relationships.
The Pan-African bank’s Nigerian branch network supports its domestic retail strategy and wider African operations. Its physical presence, combined with digital service channels, positions UBA as one of the most accessible financial institutions on the continent.
#3. Zenith Bank — 406 Branches
Zenith Bank holds the third position in Nigeria’s branch network ranking, operating 406 branches across the country and more than 450 across Africa, according to its investor presentations. The bank is supported by 10,397 employees.
Zenith’s total assets rose to N31.46 trillion in 2025 from N29.96 trillion in 2024, a growth of 5.01%, while customer deposits increased to N24.33 trillion from N21.96 trillion, representing a 10.80% rise year-on-year. The bank’s deposit base of N24.33 trillion is among the largest in the country, underscoring its success in mobilising retail and corporate funds.
The recognition has followed. Zenith Bank was named Best Bank in Nigeria by the Global Finance Best Banks Awards 2025 — a fifth such recognition in six years — and by Euromoney’s Awards for Excellence 2025. The bank’s branch model supports its strong corporate, commercial, and retail banking franchise while complementing its growing digital banking operations. Zenith’s 406-branch domestic network makes it one of the few tier-one banks to maintain both a substantial physical reach and a formidable digital profile.
#2. FirstBank — 550 Branches
FirstBank is, by almost any historical measure, Nigeria’s most deeply rooted financial institution. Founded in 1894 as the Bank of British West Africa, it remains the country’s oldest bank — and in 2026, it holds the second-largest branch network in Nigeria with 550 branches. The bank also maintains more than 820 branches across Africa, according to its annual report, and is supported by 10,909 employees.
FirstBank’s total assets rose to N27.25 trillion in 2025 from N26.52 trillion in 2024, an increase of 2.74%. Customer deposits increased to N18.88 trillion from N17.17 trillion, a growth of 9.97% year-on-year. The modest asset growth contrasts with the bank’s historical scale, but reflects a period of consolidation as FBN Holdings continues to manage legacy obligations and chart a forward strategy.
FirstBank’s branch heritage is matched by its agent banking network. By 2025/2026, the bank’s network had grown to more than 180,000 FirstMonie agents, with presence across all 774 Local Government Areas in Nigeria — a milestone that few institutions anywhere on the continent can claim. The bank’s digital platform processed over N10.3 trillion in transactions in 2025, demonstrating that FirstBank’s physical and digital channels operate at complementary scale.
The bank’s wide branch network reinforces its heritage as one of Nigeria’s oldest and most deeply rooted financial institutions, with a continued focus on retail banking, financial inclusion, and broad customer access. In 2025, FirstBank was recognised as Best Private Bank in Nigeria and Africa for Sustainable Investing by Global Finance Awards, and Best SME Bank in Nigeria and Africa by TAB Global.
#1. Access Bank — 554 Branches
Access Bank ranks as the bank with the largest branch network in Nigeria, operating 554 branches in 2025 across the country, with over 700 branches across Africa, according to its annual report. The bank describes itself as a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning three continents, 24 markets, and 60 million customers. It is supported by 9,960 employees.
The numbers at the balance sheet level are equally commanding. Access Bank recorded the largest total assets among all banks reviewed, rising to N51.56 trillion in 2025 from N41.50 trillion in 2024 — a significant increase of 24.54%. Customer deposits also increased strongly to N34.56 trillion from N22.52 trillion in 2024, representing a substantial growth of 53.44% year-on-year. This deposit surge reflects both organic retail growth and the impact of strategic acquisitions that have expanded Access Bank’s customer base.
Access Bank’s continental ambitions have not stood still either. In 2025, Access Holdings completed the acquisition of National Bank of Kenya (NBK) from KCB Group, following an earlier acquisition of Transnational Bank in 2020. Markets that were previously loss-making — including Kenya, Mozambique, and South Africa — swung from a combined N9.87 billion loss to a N16.9 billion profit in the first half of the year. Access Bank was also named Bank of the Year Nigeria 2025 by The Banker Awards and Best Transaction Bank in Nigeria by Euromoney.
The bank’s large physical footprint is the product of years of mergers, acquisitions, and aggressive retail banking expansion — most notably its merger with Diamond Bank, completed in April 2019. That deal alone added hundreds of branches and millions of retail customers. Its branch network continues to grow and support its digital banking operations and broad customer base, making Access Bank simultaneously Nigeria’s most branched and most asset-heavy lender.
THE ISSUES
The Branch-Digital Tension
Nigeria’s banking sector faces a defining structural tension in 2026: the simultaneous pressure to digitise and the enduring demand for physical access. On one side, real-time digital transactions on the NIBSS Instant Payment (NIP) platform nearly doubled between 2022 and 2024. On the other, approximately 36% of Nigerian adults — tens of millions of people — remain outside the formal financial system, according to EFInA data, many of them in areas where branch presence and agent banking remain the only viable access points.
The Recapitalisation Pressure
The CBN’s bank recapitalisation programme has also shaped how banks think about physical expansion. As of early January 2026, at least 21 banks had completed their capital raises, with some still facing scrutiny before the March 2026 deadline. The recapitalisation drive is designed to position Nigerian banks to support the Federal Government’s target of a $1 trillion economy by 2030. For banks with large branch networks, the capital required to maintain and grow those networks adds to an already high compliance cost environment.
Agency Banking as the New Branch
A third structural dynamic is reshaping branch economics: the rise of agency banking. The CBN issued revised agent banking guidelines in October 2025, deepening the regulatory framework for this channel. FirstBank alone operates more than 180,000 FirstMonie agents across all 774 LGAs in Nigeria. For banks, agent networks can be a cost-effective substitute for physical branches in underserved communities — but they require their own investment in training, technology, and oversight.
WHAT’S BEING SAID
“Today, we unveil more than a payments strategy. We unveil a vision for how Nigerians will transact, trade, save, invest and participate in an increasingly digital economy. One of the fastest ways to lift a large number of people out of poverty is through an efficient payment system,”
— Olayemi Cardoso, Governor, Central Bank of Nigeria, speaking at the launch of the Nigeria Payment System Vision 2028
“Our promise is not only to existing customers, but to everyone who has a banking need at one point or the other in their lives. This is why we founded ALAT, to cater to the needs of the banking population who want convenience, simplicity and control. And for those in the northern part of Nigeria who wanted us closer so that they can do business with us; we are closer now than ever, ready to build value-driven relationships with them,”
— Funmilayo Falola, Head of Brand and Marketing Communications, Wema Bank, speaking on the bank’s northern expansion drive
Academic research published in the International Journal of Research and Innovation in Social Science notes that approximately 36% of Nigerian adults remain unbanked, representing what researchers describe as “a persistent challenge to achieving inclusive economic growth and sustainable development.” The research underscores that physical branch presence and agent banking remain critical channels for reaching populations that digital-only approaches have not yet served.
WHAT’S NEXT
• The CBN’s recapitalisation deadline of March 31, 2026 has passed, but regulatory scrutiny of banks that struggled to meet the minimum capital thresholds remains ongoing. Any licence downgrades or restructuring actions could affect how mid-tier banks manage their branch economics in the second half of 2026.
• The CBN’s Payment System Vision 2028 sets a target of 95% financial inclusion and 50 million new accounts. Progress toward this target will determine whether banks continue investing in physical branches for underserved communities or shift entirely toward agent banking and mobile channels.
• Access Bank’s continued African expansion — now covering 24 markets across three continents — will likely bring further branch additions outside Nigeria, potentially widening the gap between it and second-place FirstBank in total continental branch count.
• The Federal Mortgage Bank of Nigeria (FMBN) has received CBN approval to operate as a full commercial bank and is preparing to expand its state offices across Nigeria. This new entrant will add competitive pressure in the branch banking market, particularly in states where it builds physical presence.
THE BOTTOM LINE: Nigeria’s branch banking landscape in 2026 is not a story of digital versus physical — it is a story of both, running in parallel at scale. The banks at the top of this ranking are not maintaining their branch networks out of nostalgia; they are doing so because Nigeria’s financial inclusion gap, its cash-reliant informal economy, and the diverse needs of 200 million people make physical access a commercial necessity, not a legacy liability. Access Bank’s position at the summit — commanding both the largest branch count and the largest asset base — confirms that in Nigeria, aggressive scale and physical reach tend to reinforce each other. The more interesting competitive question for the next three years is not which bank has the most branches, but which institution finds the most cost-efficient model for blending branches, agents, and digital channels into a single, seamless banking experience for the customer who may have a smartphone in one hand and still need to visit a branch for something the app cannot yet do.
Methodology Note: Branch data sourced from banks’ 2025 annual reports, investor presentations, and available branch locators, as compiled by Nairametrics Research. Financial data (total assets, customer deposits) reflects 2025 full-year figures from each bank’s published annual report. This article covers the top seven banks by branch count within Nigeria only.
