THE ROLE OF COMMERCIAL BANKS IN FINANCING BUILDING PROJECTS IN YOBE STATE (A CASE STUDY OF FIRST BANK DAMATURU)

Commercial banks are important financial intermediaries serving the general public in any society. In most cases, commercial banks hold more assets than any other financial institution. In some cases even more than central bank, apart from their many functions, commercial banks facilitate growth and development. Banks lend in many areas or sectors of the economy. Viewed from the building and construction sector, they contribute to investment, employment creation, and by extension, the process of infrastructure and economic growth. (Farrel, 2005). The building and construction industry in both developed and developing countries may be viewed as that sector of the economy which, through planning, design, construction, maintenance and repair, operations, transforms various resources into constructed facilities. The types of public and private facilities produced ranges from residential and non-residential buildings to heavy construction, and these physical facilities play a critical and highly visible role in the process of development (Kheni, Gibb, Dainty, 2008).