FINANCIAL PRODUCTS MARKETING AND ITS IMPLICATIONS ON THE PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

Abstract

The study examined the effect of financial products marketing on the Performance of deposit money banks (DMBs) in Nigeria, for the duration of 2008-2022 which is 20years. The secondary data (time series) was gotten from Central Bank of Nigeria (CBN) Statistical Bulletin and Nigeria Deposit Insurance Corporation (NDIC) for the duration under review. The study identified the following measures financial products such as Automated Teller Machine (ATM), Point of Sale (POS), INTB (INTB) and NIBSS Electronic Funds Transfer (NEFT) which was analyzed in relation to the Return on Assets (ROA) (proxy with performance of DMBs in Nigeria). The DP for the preliminary description of the data set, correlation analysis will be use to ascertain the co-movement of the independent variables in relation to the dependent variable while the Multiple Regression analysis were employed with the aid of E-VIEW version 9.0 for the purpose of testing the research hypothesis. The study found that ATM, POS, and INTB significantly affect DMB ROA in Nigeria, while NEFT did not. Finally, financial product marketing has a substantial impact on DMB performance in Nigeria. If DMB management wants to boost ROA, they could focus on ATM service improvements, which will boost customer happiness and patronage.
 Keywords: Financial Products, Marketing, Internet, Point of Sales and Performance.