An Evaluation of Budgeting Practices and Financial Sustainability in Sterling Bank, Plateau State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Budgeting is an essential tool for financial planning and management in any organization, especially in the banking sector. Effective budgeting practices enable banks to allocate resources efficiently, control costs, and achieve long-term financial sustainability. Sterling Bank, a prominent player in Nigeria’s banking industry, has adopted various budgeting practices aimed at enhancing financial performance and sustainability. With the growing economic challenges in Nigeria, it is imperative for financial institutions like Sterling Bank to implement robust budgeting strategies to maintain profitability and ensure long-term viability.
In Plateau State, where Sterling Bank operates, understanding how budgeting practices influence financial sustainability is crucial. The region’s economic environment presents both opportunities and challenges, requiring the bank to adapt its budgeting practices to meet local needs while maintaining financial stability. This study aims to evaluate the budgeting practices of Sterling Bank and assess their role in ensuring the bank’s financial sustainability in Plateau State.
Statement of the Problem
While Sterling Bank has implemented various budgeting strategies, the effectiveness of these practices in ensuring financial sustainability remains under-explored. As the bank navigates economic uncertainties, the impact of its budgeting practices on long-term financial performance is critical. This study aims to evaluate the effectiveness of these budgeting practices and their role in ensuring financial sustainability in Sterling Bank, with a focus on its operations in Plateau State.
Objectives of the Study
1. To evaluate the budgeting practices implemented by Sterling Bank in Plateau State.
2. To assess the impact of these budgeting practices on the bank’s financial sustainability in Plateau State.
3. To identify the challenges faced by Sterling Bank in implementing budgeting practices in Plateau State.
Research Questions
1. What budgeting practices does Sterling Bank implement in Plateau State?
2. How do these budgeting practices affect the bank’s financial sustainability in Plateau State?
3. What challenges does Sterling Bank face in implementing budgeting practices in Plateau State?
Research Hypotheses
Ho1: Budgeting practices do not significantly impact the financial sustainability of Sterling Bank in Plateau State.
Ho2: The budgeting practices implemented by Sterling Bank are not significantly effective in maintaining financial sustainability.
Ho3: There are no significant challenges faced by Sterling Bank in implementing budgeting practices in Plateau State.
Scope and Limitations of the Study
This study will focus on evaluating the budgeting practices and their impact on financial sustainability in Sterling Bank, Plateau State. The research will be limited to the bank’s operations in the region, and the findings may not apply to other branches of Sterling Bank or other financial institutions. Limitations include potential challenges in obtaining detailed financial data from the bank and the subjective nature of assessing financial sustainability.
Definitions of Terms
• Budgeting Practices: The processes and procedures employed by organizations to plan, allocate, and control financial resources effectively.
• Financial Sustainability: The ability of a company to maintain long-term profitability, growth, and stability through sound financial management practices.
• Cost Control: The practice of managing and minimizing operational expenses to maximize profits and ensure financial stability.
Related Project Materials
The Effect of Environmental Scanning on Business Adaptability: A Case Study of Real Estate Firms in Yobe State
Background of the Study
Environmental scanning refers to the systematic analysis of external and internal factors that a...
Quantitative Analysis of the Role of Nigerian Stock Exchange in IFRS Compliance
Background of the Study
The Nigerian Stock Exchange (NSE) is a central institution in Nigeria’s financial markets, pl...
Impact of Accounting Information System on SMEs’ Financial Reporting in Gumel Local Government Area
Background of the Study
Small and Medium Enterprises (SMEs) are critical to economic growth, yet many s...
An Examination of the Challenges in Pension Fund Accounting in Nigerian Public Institutions: A Study of the Federal Ministry of Finance
Background of the Study
Pension fund accounting is a specialized area within public sector accounting t...
Exploring the Use of Computational Geometry in University Campus Navigation Systems: A Case Study of Abubakar Tafawa Balewa University, Bauchi (Bauchi LGA, Bauchi State)
Background of the Study
Navigating large university campuses can be challenging for both new students and visitors. Abubaka...
The impact of school safety on students' academic achievement in secondary schools in Ningi LGA, Bauchi State
Background of the Study
School safety is a critical component in fostering an environment conducive to learning, and its in...
An Investigation of Semantic Shifts in Nigerian Social Media Discourse: A Comparative Study of Instagram and Facebook
Background of the Study
Semantic shifts—the changes in word meanings over time—are increasingly observed in dig...
An assessment of moral education’s role in shaping students’ commitment to schoolwork and assignments in Ilorin East LGA, Kwara State
Background of the Study:
Moral education is an integral component of the educational system, not only fostering ethical beh...
An Investigation of the Impact of Chronic Diseases on the Mental Well-being of Elderly Patients in Kaduna State
Background of the Study
Chronic diseases, such as hypertension, diabetes, and arthriti...
THE EFFECT OF QUALITY SERVICE DELIVERY ON CUSTOMERS PATRONAGE IN THE BANKING INDUSTRY OF NIGERIA (FIRST BANK PLC,)
ABSTRACT
This research work revealed the effect of quality service delivery on customers’ patronage in First Bank...
