SAVINGS MOBILIZATION IN WAMFIE RURAL BANK IN BONO REGION

ABSTRACT This study sought to establish the trends in savings mobilization in Wamfie Rural Bank Bono Region of Ghana, and establish the extent to which the external and external factors influence the savings mobilization function by Wamfie Rural Bank. The study employed a cross sectional research design to gather the … See more

ABSTRACT This study sought to establish the trends in savings mobilization in Wamfie Rural Bank Bono Region of Ghana, and establish the extent to which the external and external factors influence the savings mobilization function by Wamfie Rural Bank. The study employed a cross sectional research design to gather the views of 40 staff directly engaged in the savings mobilization function in Wamfie Rural Bank. The study made use of qualitative and quantitative approaches. The descriptive analysis revealed a decreasing rate of savings mobilization by Wamfie Rural Bank with the current status considered unsatisfactorily. The Correlation and Binary Logit Model results revealed a significant influence of external and institutional factors on savings mobilization. The institutional factors were: inappropriate work incentives characterized by inadequate salary enumeration which does not foster staff motivation and commitment to the savings mobilization function; and inappropriate rewards and sanctions which do not significantly impact on employee motivation, job commitment and performance in savings mobilization. The major external factor was competition with other deposit-taking institutions which is partly attributed to conducive regulatory environment provided by the National Bank of Ghana which fosters entry of many other players such as Micro Finance Institutions, in the financial sector offering similar savings products and therefore sharing on the clientele base. In light of these findings, the management of Wamfie Rural Bank need devise innovative measures to position more strategically and competitively to attract more savings, and thereby mitigate the negative impact of competition with other deposit-taking institutions on their performance in savings mobilization.TABLE OF CONTENTS DECLARATION.. PAGEREF _Toc106450646 \h i 08D0C9EA79F9BACE118C8200AA004BA90B02000000080000000E0000005F0054006F0063003100300036003400350030003600340036000000 ABSTRACTACKNOWLEDGEMENTDEDICATIONTABLE OF CONTENTSLIST OF TABLESLIST OF FIGURESCHAPTER ONE: INTRODUCTIONBackground to the StudyStatement of the ProblemResearch questionsSignificance of the StudyDelimitationLimitationsDefinition of TermsOrganization of the StudyChapter SummaryCHAPTER TWO: LITERATURE REVIEWIntroductionTheoretical FrameworkSavings mobilization in GhanaFactors influencing savings mobilization: Empirical evidence from developing countriesExternal factors and saving mobilizationExternal environment factors and saving mobilizationOverview of and gaps in the literatureConceptual frameworkSavingsAttributes Savers Value MostChallenges of Saving Mobilization faced by Wamfie Rural BankClient FactorsFactors affecting Saving Mobilization among Wamfie Rural BankEmpirical Evidence of Related StudiesCHAPTER THREE: RESEARCH METHODIntroductionResearch designStudy AreaPopulationSampling and Sample SizeData Collection InstrumentsData Collection ProceduresValidity and Reliability of Research InstrumentsData Processing and Analysis Regression Analysis. PAGEREF _Toc106450688 \h 44 08D0C9EA79F9BACE118C8200AA004BA90B02000000080000000E0000005F0054006F0063003100300036003400350030003600380038000000 Qualitative analysis. PAGEREF _Toc106450689 \h 47 08D0C9EA79F9BACE118C8200AA004BA90B02000000080000000E0000005F0054006F0063003100300036003400350030003600380039000000 Ethical considerationsCHAPTER FOUR: RESULTS AND DISCUSSIONIntroductionDescription of respondents in the sampleRespondents’ Education levelRespondents’ experience in savings mobilizationFigure 4.2: Percentage distribution of respondents by experience in savings mobilizationRespondents by role played in savings mobilizationThe trend and current status of savings mobilization by Wamfie Rural BankFactors influencing of savings mobilization by Wamfie Rural BankInfluence of external factors on savings mobilizationTable 4.1: Descriptive Statistics on Bank related determinant of savings mobilization in Wamfie Rural Bank in Bono Region GhanaTable 4.2: Pearson chi-squared correlation analysis results for institutional factors and external factors of savings mobilizationInfluence of external factors on savings mobilizationBinary logistic regression model resultsTable 4.4: Binary logistic model results: factors that influence savings mobilization by Wamfie Rural BankCHAPTER FIVESUMMARY, CONCLUSIONS AND RECOMMENDATIONSIntroductionSummary of ResultsConclusionRecommendationsAreas for further ResearchREFERENCESAPPENDIXAPPENDIX 2: TOC \o "1-3" \h \z \u

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