Sound Credit Management as a Survival Strategy for Commercial Banks in Nigeria (2005-2010) (PDF)
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– Sound Credit Management as a Survival Strategy for Commercial Banks in Nigeria (2005-2010) –

Download Sound Credit Management as a Survival Strategy for Commercial Banks in Nigeria (2005-2010). Students who are writing their projects can get this material to aid their research work.

Abstract

The growing cases of classified debt and the increasing trend in the yearly provision for bad and doubtful debt in commercial banks suggest that there may be errors in the administration of credit by commercial banks in Nigeria.

With this background, the tending polices and credit management, in a typical commercial bank. The union bank of Nigeria plc was appraised with a view to ascertain the cause of consequences of bad debts as well as to find ways and means of reducing the incidence of bad debt thereof.

The researcher thought test techniques are intended to determine the extent to which inadequate collateral security provision by borrower increases the incidence of bad debt in the bank of Nigeria plc.

He also investigated whether fund diversion has nay effect on bad debts of union bank from (2005-2010). A questionnaire was used to collect a debt; this was supplemented with oral interviews and published reports.

Two hypotheses were formulated and tested with chi-square. The result of the test shows that inadequate collateral provision by borrowers increased the incidence of bad debt in union bank.

Base on these, the researcher made his recommendations and conclusion that banks should lend to the viable projects and ensure that it is backed by adequate collateral. It is suggested that further research in this area should examine community bank like federal mortgage bank of Nigeria (FMBN).

Introduction

1.1 Background of the Study

The primary function of a commercial bank is the extension of credit to worthy borrower. In making credit available, commercial banks are rending a great social service, through their actions production is increased, capital investments are expanded and a higher standard of living is realized.

Banks make it possible for industries to produce a layered quality of goods and services which many remain in stock as or reprocessed into another form. A good example is the food industry where the quality produced maybe for in excess of what can be consumed immediately.

When credits are granted, they are expected to be paid at the expected schedule time. But when deadlines are not met, the result is bad debt. Bad debt is a debt which is unlikely to be paid which are written off from the account.

To minimize the incidence of bad debt which are in most cases caused by poor credit management, there has to be adequate knowledge of credit management by thee vested with the responsibility of granting loans to customers.

In the past when regulation and control were inadequate, there was a high incidence of classified debts (doubtful debt), and many of these were later written off as bad debts which eventually reduce profit.

Today, the central bank has woken up to the challenges of poor credit management which has brought about the “distress syndrome” in many banks.

It has issued out many circulars and guidelines to commercial banks and a lot of returns firm weekly, monthly, quarterly, yearly and bi-yearly are expected to be rendered to the central bank of Nigeria.

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