ELECTRONIC BANKING SERVICES AND FINANCIAL PERFORMANCE OF SELECTED DEPOSIT MONEY BANKS (DMBS) IN NIGERIA. (CASE STUDY OF FIRST BANK, UBA, AND ACCESS BANK)

This research investigates the impact of electronic banking services and financial performance of selected deposit money banks (DMBs) in Nigeria, specifically focusing on the effects of internet banking. Using a descriptive research design that integrates qualitative and quantitative methods, data were collected from 1,385 employees of First Bank, United Bank for Africa, and Access Bank, with a final sample of 310 respondents. Data collection involved questionnaires and interview guides, and analysis was performed using SPSS software version 21. The findings revealed mixed perceptions of internet banking, which scored 3.85 for its role in expanding the client base. Correlation analysis using Pearson’s coefficients indicated a strong positive relationship between internet banking and financial performance (r = 0.886), while multiple regression analysis demonstrated that approximately 78.3% of the variance in financial performance could be explained by the independent variables, with the regression model being significant (F = 23.705, p < 0.001). The study concluded that online banking significantly affects the financial performance of First Bank, United Bank for Africa, and Access Bank. The study recommended that the management of First Bank, United Bank for Africa and Access Bank should prioritize upgrading online banking platforms to improve usability and overall customer experience. This includes making interfaces more intuitive and user-friendly, as well as ensuring that all features are easily accessible. Additionally, management should implement mechanisms for gathering regular customer feedback, such as surveys or focus groups, to identify areas for continuous improvement. Keywords: Electronic Banking services, financial performance, internet banking, DMBs