The number of bank branches has grown for the ninth consecutive year, according to a survey released on Wednesday by the Australian Prudential Regulation Authority (APRA).

Since the survey began in 2001, banks have lifted their branch network to 5,544. Over the last year, the net increase was 40 branches or 1 per cent.

Future branch openings are dependent on market conditions.

Australian Bankers' Association chief executive Steven Münchenberg said: "There's been a strong growth in branches over the past five years. In this period, banks have increased their branch numbers by a total of 584, an average increase of 117 branches per year."

"Banks understand that some customers need or prefer to bank face-to-face. The trend over the past five years has been to open branches especially in areas with growing populations and business activity."

"Apart from the branch services, our banks are effectively open 24/7 offering accessibility almost wherever you are through ATMs, telephone and Internet banking. Customers can get cash at midnight, pay bills from the laptop in the lounge room and check balances while on holidays."