DISRUPTIVE TECHNOLOGIES ON CORPORATE PROFITABILITY OF SELECTED LISTED DEPOSIT MONEY BANK ON NIGERIA EXCHANGE GROUP
Keywords:
Disruptive Technologies, Corporate Profitability, Listed Deposit Money BanksAbstract
This study investigated the effect of disruptive technologies on the corporate profitability of five major listed financial institutions on the Nigeria Exchange Group. Disruptive technologies such as electronic transfer, digital lending platforms, and blockchain-based payments have rapidly transformed the financial services landscape in recent years. The study provides analysis of how these technologies are altering traditional banking models, enhancing operational efficiencies, and driving profitability. The research analyzes financial data from 2018-2022 for five top Nigerian banks listed on the Nigerian Exchange Group to assess how these technological disruptions have affected key profitability metrics like return on assets, net interest margins, and non-interest income. The five financial institutions selected for this study include Zenith Bank, Guaranty Trust Bank, First Bank of Nigeria, Access Bank, and United Bank for Africa. The findings indicate that the electronic transfer has a significant positive impact on the return on assets ratio in listed financial institution on Nigeria Exchange Group and digital lending platforms has a significant negative impact on the return on assets ratio in listed financial institution on the Nigeria Exchange Group. The study concluded that traditional banks need to strategically adapt to challenges from new digital channels by leveraging profitable technologies like electronic transfer while mitigating risks to income from threats to existing business lines. The study recommended that developing integrated digital ecosystems and partnerships can help strengthen this revenue channel and collaborating with fintech startups can help identify viable use cases and integration approaches to position themselves for this evolving area.
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