Forecast: Number of Commercial Bank Branches in Ivory Coast

Between 2013 and 2023, the number of commercial bank branches in Ivory Coast per hundred thousand adults exhibited fluctuations with an overall modest downward trend in recent years. As of 2023, there were 4.95 bank branches per hundred thousand adults, reflecting a 1.64% year-on-year increase. However, this followed a period of stagnation and decline, particularly between 2018 and 2021.

Over the last five years, the compound annual growth rate (CAGR) stood at -0.44%, indicating a slight average annual decline in the number of branches. The pre-pandemic years (2013-2017) generally saw more robust growth, but this momentum slowed down markedly post-2017.

Looking forward, projections for 2024-2028 indicate a return to mild growth, with a forecasted five-year CAGR of 0.86%, culminating in a total forecasted growth rate of 4.38% by 2028.

Future trends to watch for include:

• The impact of digital banking and fintech solutions potentially reducing the need for physical branches.
• Government policies and economic conditions affecting banking sector expansions.
• Technological advancements in financial services and increased internet penetration.