EFFECT OF QUALITY CUSTOMER DRIVEN SERVICES ON THE PERFORMANCE OF DEPOSIT MONEY BANKS IN OKELEWO, ABEOKUTA, OGUN STATE, NIGERIA

Consistently consistent profit has been recognized as a pertinent enabler of financial stability, growth, and return on investment and survival of deposit money banks globally. These profits are viewed as critical to the survival of financial services operating milieu and deposit money banks are expected to maintain profitability while conducting their banking operations. However, deposit money bank’s profitability has been on the decline as evidenced by economic meltdown, capital inadequacy, high operating expenses, thinning earnings, poor risk management, intense competition and absence of modern technology. These challenges have continued to attract the attention of scholars and policymakers. Existing literature indicates that quality customer driven services is suggestive of addressing these challenges. Therefore, this study investigated the effect of quality customer driven services on the profitability of selected deposit money banks in Okelewo, Abeokuta, Ogun State. Survey research design was adopted. Stratified random sampling method was used in selecting the respondents. Validated questionnaire was administered for data collection. Data were analysed using descriptive and inferential statistics such as multiple and hierarchical linear regression. Findings revealed that quality customer driven services had a significant effect on profitability of deposit money banks in Nigeria. The study concluded that quality customer driven services affect the profitability of deposit money banks in Nigeria. The study recommended that government and deposit money banks should lock-in to enhance customer experience, drive bank-wide profitability and promote financial inclusion in Nigeria.