Year: 2018 | Month: April | Volume 9 | Issue 1
Electronic Banking and Financial Performance of Commercial Banks in Migori County
Abstract:
Devolution in Kenya has brought changes in many sectors of the economy. With the aim to attain the vision 2030 of industrialized nation and technological invention and innovation, many industries have embraced innovation in the field of information communication technology. ICT is seen as the main drive towards attainment of technological goals. Innovation in IT has been the force behind transformation of financial institutions in Migori County. Tremendous development in IT and the struggle to attain the vision’s goals has made banking services more effective, accessible and cheaper. The study investigated the effects of E-banking on financial performance of commercial banks in Migori County. There are 4 variables used to investigate the main objective of the study. The study investigated 6 banks in five towns in Migori County. 56 respondents filled the questionnaires and emailed them back. Purposive sampling was used to select banks in the towns whereas stratified random sampling was used to cover the total population. The study adopted descriptive research design where qualitative and quantitative approaches were used. Primary data was be collected through questionnaires developed and sent to respondents of commercial banks. The data was augmented with secondary data that was incorporated in the questionnaires and the central bank of Kenya supervisory reports. Regression analysis with aid of Statistical packages for social science and Microsoft Excel played a major role aid in data analysis and presentation. To test for significance, paired t-test and non-parametric test was used at 0.05 level of significance. The analysed data was presented using narrations, tables and line graphs.
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