An Assessment of Branch Network Expansion Effects on Increasing Service Accessibility in Banking: A Case Study of Union Bank of Nigeria
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Background of the Study
Expanding branch networks is a key strategy for enhancing service accessibility, especially in regions where a significant portion of the population remains underserved. Union Bank of Nigeria has focused on expanding its branch network to improve geographical coverage and deliver essential financial services to both urban and rural communities. By modernizing existing branches and opening new ones in strategic locations, the bank aims to reduce access barriers, boost customer satisfaction, and promote financial inclusion. The integration of digital tools such as self-service kiosks further enhances the service delivery model, providing a hybrid approach that meets diverse customer needs.
Statement of the Problem
Despite significant branch expansion efforts, Union Bank of Nigeria faces challenges in increasing service accessibility. High infrastructure costs in remote areas, inconsistent network connectivity, and variations in customer financial literacy can limit the effective utilization of new branches. These challenges may result in suboptimal service delivery and hinder the bank’s ability to fully capture the unbanked market, thus affecting overall financial inclusion.
Objectives of the Study
- To assess the impact of branch network expansion on service accessibility at Union Bank of Nigeria.
- To identify infrastructural and operational challenges in branch expansion.
- To recommend strategies for enhancing service delivery and financial inclusion.
Research Questions
- How does branch network expansion affect service accessibility at Union Bank of Nigeria?
- What challenges impede effective branch expansion in underserved areas?
- How can operational strategies be optimized to improve service accessibility?
Research Hypotheses
- H1: Branch network expansion significantly increases service accessibility.
- H2: Infrastructural challenges negatively impact branch performance.
- H3: Enhanced operational strategies improve accessibility and financial inclusion.
Scope and Limitations of the Study
This study focuses on Union Bank’s branch expansion initiatives. Limitations include regional disparities and variations in customer financial literacy.
Definitions of Terms
- Branch Network Expansion: Increasing the number and geographical coverage of bank branches.
- Service Accessibility: The ease with which customers can access banking services.
- Financial Inclusion: The availability of financial services to all segments of society.
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