Effect of Green Banking Practice (GBP) on Financial Performance of Quoted Deposit Money Banks in Nigeria, 2014 – 2024

This study investigated the effect of Green Banking Practices (GBP) on Financial Performance of Quoted Deposit Money Banks (QDMBs) in the South East Nigeria, 2014-2024. Specifically, the study examined the effect of Green Products and Services (GPS), Green Banking Strategy (GBS) and Green Investment (GIV) on the financial performance of quoted deposit money banks in South East Nigeria. The study utilized cross sectional survey research design. The population of the study consists of 550 employees and customers of quoted deposit money banks (QDMBs) listed in the Nigeria Exchange Group in the South East of Nigeria. Questionnaire was administered on 520 respondents, both employees and customers which were selected through random sampling method. Descriptive and inferential statistics were used to analyse the data at 0.05 level of significance. The study established that green banking practices have positive and significant effect on return on investment; (Adj.R2 = .520, f stat = 107.408) .000 p < 0.05) of quoted deposit money banks in Nigeria. It is concluded that green banking practices, green banking strategy and green investments improved financial performance of quoted deposit money banks in Nigeria within the period under review. The future of green banking seems to be very promising in Nigeria, as lots of green products and services are expected in the future. Green excellence awards and recognition, green rating agencies, green investment funds, green insurance, and green accounting and disclosure are some of the things that will be heard and seen in operations in the near future. Therefore, the study recommended that Central Bank of Nigeria should develop specific guidelines on green banking practices for the banking industry and motivate banks to adopt the practice and reporting as mainstream strategy. CBN should commit to long-term investment on green end-of-life management since it is the least employed green production practice.