Browsing by Author "Sampong, William Yeboah"

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    EFFECT OF BANK INNOVATIONS ON FINANCIAL PERFORMANCE OF UNIVERSAL BANKS IN GHANA
    (August, 2015) Sampong, William Yeboah
    The Ghanaian Banking industry is witnessing a revolution as a result of technological innovations that have become a common feature of banking in the contemporary business environment. The arrival of the Internet and the proliferation of mobile telecommunication companies in Ghana present both an opportunity and a challenge to banks in Ghana. The test for the banking sector has been how to profitably formulate a new service delivery means in such a way that its clients will enthusiastically learn to use and trust. The purpose of this work is to identify the effect of bank innovations on the financial performance of universal banks in terms of their income or revenue generation, liquidity, efficiency, profitability and the general patronage of banking services in Ghana. This work is a survey of bank executives from fifteen (15) universal banks in Accra and Kumasi. Questionnaires were administered to find out the opinions of bank executives on the effect of bank innovations on financial performance. It was discovered that most of the innovations have positive effect on the income generating potentials of the banks, they also improves efficiency, liquidity and profitability of the banks. This study also found out that E-zwich as an innovation in the financial sector has no direct effect on financial performance of the universal banks in Ghana. It is recommended that corporate banks must make it a policy to establish an efficient and effective marketing department to oversee the publicity of all bank innovative products. The Government through Bank of Ghana must continue to invest in researching into innovations in the financial sector, and the universal banks whose operations are affected by any national innovative products or platforms such as E-zwich should be consulted and their concerns factored in the product before implementation.