A critical analysis on the use of financial statement in assessing banks performance of an organization - case study of First Bank of Nigeria Department: Banking and Finance By: Eniolamoses Project ID: 8788 Rating: (5.0) votes: 1Rate this project12345 Price:₦4000 Get the Complete MaterialAbstractThis study investigates the relationship between financial statements and bank performance in Nigeria- A case study of First Bank. Banks are a very integral aspect of an economy due to the fundamental role they play as intermediaries; therefore, it is important to establish an efficient analysis of the health of the bank, as it also reflects the state of the economy. Financial statements are effective sources of information to analyse the state of a bank, which brings about financial ratio analysis. Financial ratios enable useful interpretation and analysis of relevant information from financial statements pertaining to relevant parameters in assessing bank performance, such as: liquidity, profitability, efficiency, return on assets and return on equity, etc. The study found that the three banks, which are among the top 10 banks in the Nigerian banking industry, performed well above industry average and depicted resilience in spite of fluctuations in performance as a result of certain economic factors. It was determined that financial statements were very instrumental in detecting the strengths and weaknesses of the banks, as such information helps in determining the performance of banks. Although financial statements alone are not sufficient in determining the overall performance of bank,s as they do not take into consideration variables such as: customer satisfaction, risk, etc. It is still most effective in assessing the core performance of banks. The study recommended the continuous and efficient preparation of financial statements. Keywords: financial statements, financial ratios, liquidity, profitability, bank, bank performance...Preview Download Preview +Other Banking and Finance project topics and materials you might be interested in»The role of central bank of Nigeria (CBN) in the development of Nigeria financial sector»Appraisal of the economic implication of electronic banking in Nigerian banks (A case study of diamond bank)»The impact of strategic planning on banks performance in Nigeria (A case study of united bank for Africa plc)»Evaluation of the impact of liquidity management on banks performance in Nigeria ( A case study of UBA )»The roles of central bank of Nigeria in the prevention of bank failure or liquidation (A case study of central bank of Nigeria 2005-2009)»The role of financial institutions in promoting banking habit and saving capital formation in Nigeria»The effectiveness of monetary policy measures in controlling inflation in Nigeria»The effect of electronic banking on fraud reduction in bank (A case study of access bank plc)»Problems and challenges facing finance houses in the Nigerian economy ( A case study of mortgage bank owerri )»The role of deposit money bank in Nigeria in economy development in Nigeria - a case study of Access Bank Plc»Motivation as a way of reducing fraud in banking industry ( A case study of UBA and Fidelity bank )»Identification and management of bad debts in Nigeria commercial banks(A case study of UBA plc)»The impact of insurance industry on the economic growth of Nigeria (A case study of nicon and hallmark insurance companies 2005-2009)»The contribution and effect of computer to modern day banking in Nigeria (A case study of zenith bank and first bank plc)»The use of accounting information in assessing control and performance in an organization (A case study of first bank of Nigeria owerri)