THE ROLE OF COMMERCIAL BANKS IN DEVELOPMENT OF EDO STATE. A RESEARCH PROJECT MATERIAL ON ECONOMICS
The main purpose of this important research was to examine the role of commercial banks in the development of Edo State. The project work was divided into five chapters. Chapter one deals with introduction, statement of problems, objective of the study, significance of the study. Chapter two deal with literature review. Chapter three talks about the methodology of the study. Chapter four deals with data analysis and interpretation. And lastly chapter five deals with summary, conclusion and recommendation. The researcher used the questionnaires for eliciting information from the respondents. Finally recommendations were made by the researcher.
BACKGROUND OF THE STUDY
A major engine of economic growth and development in any nation it its financial market. It impacts in directly and positive on the economy providing financial resources through its intermediation process, for the financing of short, medium and long term projects (AL-Faki, 2007). Finance is one of the basic organic functions of any organization revolves, be it a profit seeking or non profit concern financial management decision are sing anon to all other organizational decisions, therefore the way the finance of a firm is manage determines to a very large extent it survival and growth it is a function practiced by all organization irrespective of type, form or size, and has been very dynamic over the years basically as a result of the changing environment of business (Ajayi, etal 2003). To facilitate financial transactions therefore, commercial banks are provided.
Banks refer to financial institutions who serve as a store of money and other valuable items, generally. Banks offer financial services such as keeping money for individual people of companies, exchanges currencies, makes loans, are offers financial services. (A.L FAKI 2007)
Banking therefore, is the business, the basic services to consumers are business, the basic services a bank are checking accounts, which can be used like money to make payments and time deposits that can be used to save money for future use. Loans that consumer and businesses can use to purchase goods and services and basic cash management services such as check cashing and foreign currency exchange four types of banks specialize in offering these basic banking services, Commercial Bank, savings and loans association, saving banks and credit union. (Redmond, 2007)
A broader definition of bank is nay financial institution that receives, collects, transfers pays exchanges lends, invest, or safeguards money for it customers. This boarder’s definition includes many other financial institutions that are not usually thought of the broadly defined banking services, these institutions include finance companies, investment companies, investment banks, insurance companies, pension funds, security brokers and dealers, mortgage companies, and real estate investment trusts.
Leave a Reply
You must be logged in to post a comment.