IMPACT OF ECONOMIC ELEMENTS ON PERFORMANCE OF NIGERIA DEPOSITS MONEY BANKS

Abstract

Financial performance, in a broader sense, demonstrates the degree to which financial purposes over a given time period were attained. It is the process of determining a firm's and its operations' financial success. Stakeholders bank management analyst, policy makers and the general public have all expressed serious concerns about appropriate banking performance throughout time. The objective of the study is to assess the performance of Nigeria deposit money banks using the Central Bank of Nigeria (CBN) statistical bulletin for 2003-2022. The finding revealed that the significance of macroeconomic factors in the role played by deposit money banks in effectively contributing to the prosperity of any nation and profitability of banks cannot be overstated. The study recommended that banks should investigate tactics that will minimize operational costs associated with deposit attraction while also broadening their deposit sources. Nigerian banks should dedicate themselves to the goal of price stability in addition to strengthening the monitoring and guiding outlines to ensure a robust sector for effective intermediation in order to prevent the effects of inflation.