An assessment of risk culture in business banking: A case study of Keystone Bank, Abuja
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Background of the Study
Risk culture refers to the values, beliefs, and attitudes that underpin an organization’s approach to risk management. At Keystone Bank in Abuja, a strong risk culture is recognized as essential for maintaining operational stability and ensuring sustainable growth in business banking. The bank has cultivated a risk-aware environment through comprehensive training programs, robust internal controls, and an emphasis on ethical practices (Adenuga, 2023). A positive risk culture encourages proactive identification and management of risks, fostering an environment where employees are empowered to report potential issues and take corrective actions. This cultural framework is particularly vital in business banking, where exposure to credit, market, and operational risks is significant (Oluwaseun, 2024). However, developing and sustaining a robust risk culture remains challenging due to factors such as resistance to change, communication gaps, and the complexity of risk management processes (Chukwu, 2025). This study examines the risk culture at Keystone Bank to assess its impact on business banking performance and identify strategies for further improvement.
Statement of the Problem
Despite efforts to instill a strong risk culture, Keystone Bank encounters challenges in fully embedding risk awareness across all levels of its business banking operations. A primary problem is the inconsistency in risk perceptions among employees, which can lead to lapses in risk identification and reporting (Adenuga, 2023). Furthermore, legacy practices and a reluctance to adopt new risk management approaches impede the evolution of a robust risk culture. The lack of integrated communication channels between risk management teams and operational units further exacerbates these issues. These challenges diminish the bank’s ability to manage risks effectively and may result in increased non-performing loans and operational losses (Oluwaseun, 2024). The study aims to analyze these cultural deficiencies and propose interventions to strengthen the overall risk culture.
Objectives of the Study
- To assess the current risk culture within Keystone Bank’s business banking division.
- To identify factors that impede the development of a strong risk culture.
- To recommend strategies for enhancing risk awareness and management practices.
Research Questions
- What is the current state of risk culture at Keystone Bank?
- What challenges hinder the effective integration of risk management practices?
- What measures can improve risk culture and operational resilience?
Research Hypotheses
- H₁: A strong risk culture significantly reduces the incidence of operational losses.
- H₂: Inconsistent risk perceptions among employees negatively affect risk management effectiveness.
- H₃: Enhanced training and communication improve the overall risk culture.
Scope and Limitations of the Study
This study focuses on Keystone Bank’s business banking division in Abuja, examining risk culture over recent periods. Limitations include reliance on self-reported data and the influence of external economic factors.
Definitions of Terms
- Risk Culture: The collective values and practices that shape an organization’s approach to risk management.
- Business Banking: Financial services provided to corporate and commercial clients.
- Operational Losses: Financial losses resulting from failed internal processes or external events.
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