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PRICING OF FINANCIAL PRODUCTS AND SERVICES IN THE NIGERIAN BANKING INDUSTRY: A CASE STUDY OF AFRICAN INTERNATIONAL BANK LTD
ABSTRACT
The study titled pricing of financial and services a case study of African International Bank Limited is justified by the realization that pricing is less developed in the Nigeria banking industry compared to other aspects such as credit analysis or legal documentation. The reason for this was traced to the fact that in highly deregulated financial market the prices of almost all financial products and services as set by the regulatory bodies such as the CBN . The inefficiencies of price controls has led to deregulation and banks are free to set many prices of their products and services. The objective of the study is to allow more flexibility in pricing and increased profitability through superior pricing of bank products and services. The study took a broad look at pricing in the African International Bank Limited. In doing that primary data was acquired though inter personal interviews with some of the management staff of the bank and the secondary data was obtained from a review of relevant literature. The study found that commercial banks are in strict adherence to provisions of the bankers tariff which allows them little room to develop a systematic approach to pricing. The only evidence of deregulation and consequently some degree of systematic pricing is in the area as interest rate. Even here the pricing mechanisms are not fully developed. The following recommendations were made. Loan terms should reflect the borrowers contribution to the banks over all risk. Banks should identify and offer fixed rates to those firms whose cash flow as relatively fixed in nominal terms. Banks should use the customer profitability model in assessing and pricing loans; as well as ensuring that adequate strategies are put in place for business accounts on one hand and customer accounts on the other. Banks should also adopt a split rate pricing scheme so as to improve profit and simultaneously maintain customer incentive to hold large balance. The CBN should also abolish the use as the Bankers tariffs.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
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