The Impact Of New Money Market Products On Profit Performance Of Commercial Bank In Nigeria

The commercial banks provides their numerous customer across the county with the full range of commercial money market banking products (service) but not related to currents savings and deposit accounts. Loans and overdrafts provision of international money market banking services, export credits and financial  advisory services, farmer loan scheme, time deposit current account, statement savings scheme, house saving an loan scheme, first cash, UBA card, current account management services, money gram or international money transfer system, scholarship schemes. 

All this products were aimed at generating profit to the banks concerned but due to change in market demand for these products and infavourable economic environment, there is a decline in sales of these product and subsequent decline in their profit performance (ANIBUEZE 1998) (BANKING PRATICE)

As a result the banks introduced new money market products such as Network, money gram, Western union money Transfer, save for school scheme, JAMB form sales, cash evacuation scheme, online real time scheme banking services, which were all aimed at improving the profit performance of these banks (NWANKWO 1990: Marketing Bank Products and Services). Therefore, the problem here is how profitable would these products be so as to make any impact on the profit performance to these banks.

The objective of embarking on this research finding is to determine whether the impact on the profit performance of these banks is as result of the new products introduced.  

REVIEW OF RELATEDLITERATURE

RESEARCH DESIGN AND METHODOLOGY

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