Effect of Interest Rate Determinants on the Aggregate Performance of Deposit Money Banks in Nigeria’s Banking Sector
Oluwarotimi Ayokunnu Owolabi ORCID ↗ · Ibukun Omoshola Fayemi
International Journal of Finance & Banking Studies · 2018 · Vol. 6 / Issue 6 · 29
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Abstract
This study explores the effect of selected interest rate determinants and their significance on the performance of Deposit money banks in Nigeria, and whether the determinants are significantly different between High performance and low performance periods, over the period of 1998 to 2015. Multivariate ordinary least squares regression and paired samples t-test were employed in performing the study. The findings of Multivariate ordinary least squares regression revealed that exchange rate has a positive and statistically significant effect on deposit money bank performance, Monetary policy rate and Credit Risk have a negative and statistically significant effect on deposit money bank performance , while Inflation rate and savings deposit rate have a statistically insignificant effect on deposit money bank performance. Results of paired samples t-test revealed significant difference in means of determinants. The study recommends Naira devaluation and reduction of monetary policy rate amongst other recommendations to boost bank performance in Nigeria
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Oluwarotimi Ayokunnu Owolabi
Affiliation not supplied
Ibukun Omoshola Fayemi
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