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This study presents credit control procedures towards credit provision and loan repayment that have been practiced at Akiba Commercial bank Plc. Specifically, the study determines criteria used to set the prevailing interest rate on credit given to the clients at Akiba Commercial Bank Plc (ACB); to investigate the extent to which credit management policy and procedures affect customer satisfaction at Akiba Commercial Bank Plc (ACB); and evaluate the credit follow up procedures at Akiba Commercial Bank Plc (ACB).
However, the study covered by taking sample of 50 respondents. Simple random sampling technique and purposive sampling entails were used to get a sample. The study used case study design in which both qualitative and quantitative approaches of data analysis were adopted. Data were collected using questionnaires, interviews and documentary review.
The research found that; existing control procedures at Akiba Commercial Bank Plc (ACB) is principally focused on creating a single market for financial services. There appears only modest scope to encompass environmental issues in most areas, as it is not evident that the environmental risks are sufficient to warrant special treatment by regulators. At Akiba Commercial Bank Plc (ACB) there is a potential argument for making some form of environmental management compulsory or by requiring the disclosure of credit to high risk sectors.
This study concluded that, most of the respondents argued that, financial institutions have tended to play down their potential role in moving towards sustainable development, believing that such matters are primarily the role of government. Indeed, their view has often tended towards dismissing credit policy concerns as of marginal importance to their business.
Moreover, the study recommended that, senior management should have responsibility for implementing the provision of credit strategy approved by the board of directors and for developing policies and procedures for identifying, measuring, monitoring and controlling credit trend. Such policies and procedures should address credit risk in all of the financial institutions’ activities and at both the individual credits and portfolio levels. |
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