SAVING MOBILIZATION FOR ECONOMIC DEVELOPMENT IN NIGERIA BANKING INDUSTRY (A STUDY OF UNION BANK OF NIGERIA PLC) 2000-2022.
Abstract
This study is saving mobilization for economic development in Nigeria banking
industry (A study of union bank of Nigeria plc) 2000-2022. The objective is to
assess the contribution of savings to domestic credit to the private sector, to
explore the effect of savings on money supply and to examine the impact of savings
on deposit rate. The research methodology involved sampling tools development
and choice of variables used as measures of banking performance. The variables
include domestic credit to the private sector, ratio of money supply to GDP and
ratio of deposit rate to GDP, each of which serves as response variable while
savings deposit in commercial banks represent general savings and serve as the
explanatory variable. Descriptive statistics was first considered so as to observe
the statistical behaviours of the variables. Following the descriptive statistics is the
statistical analysis which was carried out using the ordinary least squares
technique which involved the use of regression on the measures of financial
deepening, assuming linearity in the model. Results from the analysis showed that
savings increased domestic credit to the private sector during the period under
review and is significant. Increase in the aggre
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