Abstract
The study compared the performances of Deposit Money Bank, Bank of Agriculture and Microfinance Banks in the rural communities of Benue State Nigeria: 2010 - 2012. Data were collected from 180 respondents using multistage sampling technique. Structured questionnaire was administered on randomly selected respondents who were beneficiaries of agricultural credits from these banks. The data were analyzed using descriptive statistics. The results obtained revealed a significant level of outreach in terms of savings deposit mobilized and loan disbursed. Comparatively, the Deposit Money Bank was most successful in terms of savings mobilization (N11,825,000). The Bank of Agriculture was next (N3,471,000) and the Micro Finance Bank (N429,000). With respect to funding rural agriculture, Deposit Money Bank was highest (54.24%) followed by Bank of Agriculture (45.18%) and the least was Micro Finance Bank (0.58%). The study recommended that increased financial resources should be made available by the State and Donor Agencies to the Rural Banking Institutions to reactivate them especially during their negative cash flow stages. The Rural Banking Institutions should also embark on aggressive mobilization of savings and recovering of their loans to enable them become self-sustainable.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: IOSR Journal of Agriculture and Veterinary Science
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
