EXAMINING THE IMPACT OF FIRM CHARACTERISTICS ON NIGERIAN DEPOSIT MONEY BANKS' FINANCIAL PERFORMANCE

This study examines the impact of firm characteristics on the financial performance of selected deposit money banks (DMBs) in Nigeria from 2017 to 2024. This study investigates the influence of board size, firm size, and financial leverage on earnings per share (EPS), which serves as a proxy for financial performance. An ex post facto research design was adopted using secondary data obtained from the annual reports of five selected banks. Panel regression analysis was conducted using REM alongside descriptive statistics and correlation analysis to explore the nature and distribution of the variables. The descriptive results indicate that board size and debt-to-equity ratio are approximately normally distributed, whereas firm size and earnings per share exhibit significant skewness and non-normal characteristics. The regression findings reveal that board size has a negative but statistically insignificant relationship with EPS. Firm size has a positive yet insignificant effect on profitability, whereas leverage has a weak positive and statistically insignificant influence on earnings per share (EPS). Furthermore, the overall model is not statistically significant, and the firm-specific characteristics do not collectively explain variations in financial performance during the study period. The study concludes that although firm characteristics play a role in shaping financial outcomes, other internal and external factors may exert a stronger influence on Nigeria’s bank profitability. The findings provide useful insights for bank managers, investors, and regulators in improving governance structures and capital management strategies