GTBank and UBA have emerged as the top performers, with Nigerian banks experiencing a 15% surge in digital engagement, driven by organic channels that lead conversion growth.
A new report from Conversion Tracker has revealed a 15% quarter-over-quarter (QoQ) increase in digital engagement across Nigeria’s banking sector, with total sessions reaching 35.8 million in Q3 2025.
The analysis spans 15 leading banks, including Access Bank, GTBank, UBA, Fidelity Bank, Stanbic IBTC, and Standard Chartered, offering insights into traffic sources, conversion rates, bounce metrics, and platform-specific performance.
Others include Citibank, Ecobank, First Bank of Nigeria, FCMB, Globus Bank, Keystone Bank, Polaris Bank, Sterling Bank, and Union Bank.
Organic search remains the dominant traffic source, accounting for 26% of total sessions, while direct traffic leads at 43%. Paid search and social media combined contributed 15%, followed by email/referrer traffic (10%) and mainstream news sources (6%).
The report notes that younger demographics are increasingly responsive to paid and social campaigns, with platforms like GTBank and UBA leading in volume and conversion efficiency.
“Organic referrers such as Google, which drove 5 million sessions, correlate with lower bounce rates (r = -0.45), likely due to high user intent,” the report states. “Paid social, including Twitter at 4.6 million sessions, drives spikes but also higher drop-offs, averaging 44% bounce, suggesting causation from impulse clicks.”
Conversion rates across all banks averaged 2.8%, marking a 1.8% QoQ improvement. Bounce rates dropped to 41%, indicating better landing page engagement but highlighting areas for further optimization.
The majority of user sessions were tied to logins and account openings (45%), followed by loans/applications (25%), investments/remittances (15%), cards/savings (10%), and insurance/wealth management (5%).
GTBank led with a 4.2% conversion rate and the lowest bounce rate at 32%, driven by strong organic search (54%) and social engagement (30%). UBA followed closely with a 4.0% conversion rate and 33% bounce, supported by balanced traffic sources and high brand loyalty.
Access Bank posted a 3.8% conversion rate, with higher reliance on paid search (15%) and strong social CTR (4.4%).
GTBank and Fidelity Bank topped organic search performance at 54% and 51%, respectively, reflecting robust SEO strategies. In contrast, Globus Bank (39%) and Keystone Bank (40%) lagged, suggesting underinvestment in content optimization.
Globus and Standard Chartered led paid search investment at 19% and 18%, while GTBank (8%) and Stanbic IBTC (9%) relied more on organic reach.
Social traffic, both organic and paid, averaged in the mid-20% range across banks. GTBank (30%) and Ecobank (29%) led with viral content strategies, while Globus (21%) showed weaker platform presence.
The report identifies social media as a key amplifier for youth-targeted campaigns, with strong correlations between social engagement and CTR.
Email campaigns proved effective for retention, with Globus (10%) and Standard Chartered (9%) outperforming peers.
Email campaigns proved effective for retention, with Globus (10%) and Standard Chartered (9%) outperforming peers.
Smaller banks leveraged email to reactivate loyal users amid rising acquisition costs. Referrer traffic, averaging 7.6%, was highest for Union Bank and Keystone (13%), driven by affiliate partnerships, while GTBank registered the lowest at 4%.
The report underscores the importance of balancing organic and paid strategies, optimizing landing pages, and leveraging social and email channels for targeted engagement.
As mobile usage rises and economic conditions stabilize, Nigerian banks are well-positioned to scale digital adoption through data-driven marketing.