Online Banking and Financial Performance of Deposit Money Banks in Anambra State (IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH)

Summary

• The population of the study comprised 2090 employees of deposit money banks in Anambra State, Nigeria.p.1
• The statistical formula devised by Borg and Gall was used to determine a sample size of 408.p.1
• Out of 408 distributed questionnaires, 354 copies (87%) were properly filled and retrieved for analysis.p.11
• A proportion of 52.1% of respondents agreed that electronic fund transfers relate to financial performance.p.11
• Electronic fund transfers showed a positive significant relationship with financial performance with a correlation coefficient of r = .890.p.12
• Electronic bill payment demonstrated a positive significant correlation of r = 0.863 with financial performance.p.13

Key insights

1. Electronic fund transfers showed a positive significant correlation of r = .890 with financial performance of deposit money banks.p.12
2. Electronic bill payment demonstrated a positive significant relationship of r = 0.863 with financial performance.p.13
3. Mobile banking services had a positive significant correlation of r = 0.891 with financial performance.p.14
4. Out of 408 distributed questionnaires, 40 copies (10%) were improperly filled and 14 copies (3%) got missing.p.11
5. The introduction of Automated Teller Machines in the 1960s marked the earliest steps in the evolution of online banking.p.4
6. Mobile banking provides an alternative to almost all functions available on Automated Teller Machines except cash withdrawal and deposit.p.6