Consumer Banking Nigeria

In this first edition, we explore consumer banking scene, payment habits and expenses in Nigeria’s urban areas.
We explore banking perception of both account and non account holders, and provide:

  • figures on market share,
  • positioning and a comparison on clients banking relationship and
  • client profile among banks

We go in-depth into how and for what Nigerians account holders use their bank and their services. We also give an insight on savings and borrowing behavior – penetration, motivation and sources. Data on national and international money transfers is also provided. The report concludes with data on mobile banking brands awareness and service usage.

The analyses in this publication are derived from field data collected by our own proprietary field staff from an ample sample (N=1200) during the July 2013 in the main urban areas of Nigeria.

Key elements available in this publication

  • Banking penetration by social class
  • Average income of households, including spending, saving and give-away behavior
  • Penetration of banking and insurance products by income bracket
  • Ownership trends of durable assets and household goods
  • Preferred retail channel used by product category
  • Behaviors of mobile and internet usage, and TV access

Professionals will use this publication to

  • Have an overview of the consumer banking sector in Nigeria
  • Understand the different banking products penetration in the market
  • Market share’s of the different players
  • Explore the market for remittances, lending, savings and payments

 

Table of contents

  • Banking penetration by Social Economic Class
  • Market share of main banks
  • Banking account bank by SEC
  • Length of relationship with the bank by SEC
  • Criteria for choosing a bank
  • Product ownership and number of banking products owned
  • Modes of payment used
  • Frequency of usage of modes of payment
  • Online modes of payment
  • National transfers: Origin, destination, amounts and frequency
  • International transfers: Origin, destination, amounts and frequency
  • Family expenditures by category
  • Payment locations of bills
  • Modes of internet access: 3G, Mobile phone, home internet
  • Savings and in which institution
  • Loans: Type, amount, and purpose
  • Mobile payments: Brand awareness and usage frequency

 

Publication format

  • PDF document
  • 75 pages