Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Nigeria
NGAFCBODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,546.00
Year-over-Year Change
-21.76%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of commercial bank branches, excluding headquarters, in Nigeria. It provides insights into the geographical outreach and accessibility of the Nigerian banking system.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Nigeria trend represents the physical footprint of the commercial banking sector in the country. It is an important indicator of financial inclusion and the ability of banks to serve diverse communities.
Methodology
The data is collected by the Central Bank of Nigeria and reported through the Federal Reserve Economic Data (FRED) platform.
Historical Context
Policymakers and financial analysts use this trend to assess the financial infrastructure and accessibility in Nigeria.
Key Facts
- Nigeria had over 5,600 commercial bank branches in 2020.
- The number of branches has grown by 25% since 2010.
- Branches are concentrated in urban areas, limiting rural access.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of commercial bank branches, excluding headquarters, operating in Nigeria. It provides insights into the geographical outreach and accessibility of the banking system.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding financial inclusion and the ability of the banking sector to serve diverse communities across Nigeria.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Nigeria and reported through the Federal Reserve Economic Data (FRED) platform.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to assess the financial infrastructure and accessibility in Nigeria, which informs policies aimed at promoting financial inclusion.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Central Bank of Nigeria, but there may be occasional delays in reporting to the FRED platform.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Nigeria (NGAFCBODCNUM), retrieved from FRED.