ABSTRACT
Information
technology is a powerful force that drives the world towards a converging
commonality. From the beginning of the human era, technology has been of the
most essential and most important factor for the development of mankind.
The use
of Information
technology broadly referring to computers has seen tremendous growth in
service industries in the recent past. The most obvious example is perhaps the
banking industry.
This
project examines the impact of information
technology on the banking industry 2000 -2009. It will also find
out how growth rate in computer technology cost, interest: interbank, inflation
rate, total bank asset, total deposit, number of bank branches, total computer
asset cost affect the performance of First Bank of Nigeria.
The
study will analyze the problem of the impact of information technology on the
banking sector, effectiveness of information
technology to tackle the occurrence of long queues deposits and
withdrawals; facilitates fraud, saves time of customers, just to mention a few.
This
study adopted the ordinary least square multiple regression analyses, Pearson
correlation co-efficient of determination to examine and appraise the
relationship between information
technology and the banking sector of First Bank of Nigeria. The
findings show that Growth rate in computer technology cost, interest rate:
(inter bank), inflation rate, total bank asset, total deposit, number and bank
profits of First Bank of Nigeria.
This
study recommends that in order for banks to increase its profitability and
carryout good operations the bank should be saddled with the responsibility of
mapping out strategies and itemizing tactics to boost its capitalization.
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