EFFECT OF DEBT MANAGEMENT ON THE PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA
(A CASE STUDY OF ACCESS BANK NIGERIA PLC)
 	
By:
OLATAYO ABOSEDE ABIOYE
HND/23/BFN/FT/0127

A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF BANKING AND FINANCE, INSTITUTE OF FINANCE AND MANAGEMENT STUDIES, KWARA STATE POLYTECHNIC, ILORIN.

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF HIGHER NATIONAL DIPLOMA (HND) IN BANKING AND FINANCE

MAY, 2025
CERTIFICATION
This project has been read and approved as meeting the requirements for the award of Higher National Diploma (HND) in the department of Banking and Finance Department, Institute of Finance and Management Studies, Kwara State Polytechnic Ilorin.

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MR. AJIBOYE W.T.					DATE
(Project Supervisor) 		

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MRS. OTAYOKHE E.Y					DATE
(Project Coordinator) 

	

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MR. AJIBOYE W.T.					DATE
Head of Department (H.O.D)	

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DATE
(External Examiner)

DEDICATION
This project is dedicated to God Almighty the owner of Heaven and Earth, my creator, my father, my helper, my supporter, my hope, my future and my everything may His name be praise forever (Amen) and also to my late mother MRS. OMOLARA SHAKO may her soul rest in peace in Jesus Name

ACKNOWLEDGEMENT 
Blessed be the name of the Lord for His faithfulness upon my life. Thank you Jesus for your help, strength, instructions, leading guidance and support throughout this journey.
Special thanks to my awesome and amazing project supervisor, MR. AJIBOYE W.T, thanks so much for your patience, understanding and effort towards my project. God bless your sir.
To my irreplaceable father MR. MICHEAL SHAKO, I pray the Lord bless you greatly and you will live to eat the fruit of your labor in Jesus Name and to my late Mom, may her soul rest in peace. Also to my small father Pastor Ayodeji Olawale thank you for your support, prayer ad advice I really appreciate you sir, to my big sister (Mummy Oyindamola thank you for your support may God bless greatly ma, to my amazing sister Queen Esther and Oluwakemi, thanks so much for supporting your girl up until  this moment. God’s blessing upon you now a forever more in Jesus name.
To my father in faith, REV. SAMUEL OYEYIPO thanks for the fatherly support, prayers, love and care towards me. Great Grace sir.
To my wonderful friends and families on campus and at home, OLUWABUSOLA, DUPE, OLUWAFEYINTOLA, OLUWAPELUMI, OPEAYOMI, MOYINOLUWA, BOLANLE. Thanks so much, friends and family in Christ, for your huge support and prayer. God will reward you abundantly

TABLE OF CONTENTS
Title Page									i
Certification									ii
Dedication									iii
Acknowledgment								iv
Table of Content								v
CHAPTER ONE
INTRODUCTION								
1.1	Background to the Study						1
1.2	Statement of the Problem 						3
1.3	Research Questions							4
1.4	Objective of the Study						4 
1.5	Research Hypothesis 							4
1.6	Significance of the Study						5
1.7	Scope and Limitation of the Study					6
1.8	Definition of Terms							6
1.9	Plan of the Study							7
CHAPTER TWO
LITERATURE REVIEW							
2.1	Conceptual Review							9
2.2	Theoretical Review							16
2.3	Empirical Review							17
2.4	Gap in Literature							20
CHAPTER THREE
RESEARCH METHODOLOGY						
3.1	Introduction to Methodology						22
3.2	Research Design							22
3.3	Population of the Study						22
3.4	Sample size and Sample Techniques 					23
3.5	Method of Data Collection						24
3.6	Method of Data Analysis 						24
3.7	Limitations to Methodology						25
CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND INTERPRETATION 	
4.1	Data Presentation							27
4.2	Data Analysis 								29
4.3	Data Interpretation 							37
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS 
5.1	Summary of Findings							38
5.2	Conclusion								39
5.3	Recommendations							39
	References								41

CHAPTER ONE
INTRODUCTION
1.1	Background of the Study
Debt management in our banking sector today has taken a different dimension from what it used to be. The banking industry has adopted a lot of strategies in checking debt management in order to stay in business. Thu the banking industry in Nigeria has lost large amount of money as a result of the turning source of credit exposure and taken interest rate position. Nigerian banks are being required in the market because of their competence to provide transaction efficiency, market knowledge and funding capability. To perform these roles, the banks act as the most important participants in their transaction process of which they use their own balance sheet to make it easier and making sure that their associated risk is absorbed.
Credit extension is essential function of banks and the bank management strives to satisfy the legitimate credit needs of the community it tends to serve. This credit advances by banks as a debtor to the depositor requires exercising prudence in handling the funds of depositors. The Central Bank of Nigeria established a credit act in 1990 which empowered banks to render returns to the credit risk management system in respect to its entire customers with aggregate outstanding debit balance of one million naira and above (Ijaiya and Abdulraheem (2020). This made Nigerian banks to universally embark on upgrading their control system and risk management because this coincidental activity is recognized as the industry physiological weakness to financial risk. The researcher, a New yolk-based, said that 40% of Nigerian banks that made up exchange rate value in west Africa, has reduced the operating lending as a result of bad debts which hit more than $10 billion in 2009 and this has led to a tied-up questioning asset that is holding almost half of Nigerian banks.
There are three classes of debts, and these are the short-term debt with a maturing period of one year or less, medium-term maturing between one to five years and long- term debt maturing after five years. However, short term debt mainly sourced from depositors remains the most crucial source of finance available to deposit-taking institutions. The optimal capital decision is always desirable to management, for the simple fact that it represents the best combination of debts and shareholders fund that produces a low cost of capital and maximizes the firm's value. Consequently, poor capital decision, for example, the wrong mix of debt and equity may lead to the high cost of capital, increase financial risk, lower the firm's financial performance and eventually hinder its survival (Anarfo, 2015). This implies that an inefficient debt capital decision may force a firm to extinction.
Financial performance determines the firm's efficiency in resources utilization, as well as its ability to make a profit (Aymen, 2013). Financial performance of banks is essential because of the critical role the industry plays in the economy in terms of provision of financial intermediation, the transmission mechanism of monetary policy and maintenance of economic stability (Abbadi and Abu-rub, 2012). Stressing the importance of sound financial performance in the banking industry, Scott and Timothy (2006) as cited in Ronoh and Ntoiti, (2015) pointed out that banks with sound financial performance and sufficient capital can withstand adverse shocks. This implies that a sound banking sector will remain firm and continue to provide the needed financial intermediation services. Thus, a healthy and sound banking sector enhances financial deepening, creates more employment opportunities and promotes financial stability (Hafiz, 2018). However, financial stability report indicates a declining trend in the Nigerian banks' financial performance metrics. For instance, return on equity (ROE) and return on assets (ROA) have dropped from 14.90 %, and 2.67 % in 2019 to 1.18 %, and 0.16 % in 2020 (IMF, 2017; CBN, 2020). This development is capable of eroding public confidence and in the extreme, could trigger runs on the banks. Hence, the need for improvement in the key decision areas such as capital structure becomes imperative, because of their close relationship with the bank’s performance and survival.
1.2 	Statement of the Problem
Effective debt management is critical to the financial health of deposit money banks, particularly in developing economies like Nigeria, where access to capital is often limited and interest rates are relatively high. Poor debt management practices, such as excessive borrowing, inefficient loan utilization, and failure to service debt promptly, can lead to increased financial costs, liquidity crises, and eventually reduced profitability (Onaolapo & Kajola, 2010). In the case of Access Bank PLC, the need to maintain a balance between leveraging debt to finance growth and ensuring consistent profitability presents a significant managerial challenge. Despite regulatory frameworks and internal control systems, the persistence of non-performing loans and fluctuations in profitability indicate potential lapses in the bank’s debt management strategies (CBN, 2021).
Furthermore, while numerous studies have explored the determinants of bank profitability, few have isolated the impact of debt management practices as a key variable within the Nigerian banking context (Akinyomi & Olagunju, 2013). This gap in literature makes it difficult to ascertain whether poor financial performance in some periods is due to external economic shocks or internal financial mismanagement. Given the centrality of debt in the financial operations of banks, it is imperative to investigate how debt structure, servicing strategies, and management decisions affect the bottom line of banks like Access Bank. This study aims to fill this gap by providing empirical insight into the relationship between debt management and profitability, thereby guiding better financial planning and policy decisions within the banking industry.
1.3	Research Questions
To guide the study, the following research questions will be addressed:
i.	what is the relationship between debt ratio and the profitability of Access Bank PLC?
ii.	how do short-term and long-term debts affect the financial performance of Access Bank?
iii.	how effective are the debt management strategies employed by Access Bank PLC?
1.4	Objectives of the Study
The main objective of this study is to examine the effect of debt management on the profitability of deposit money banks in Nigeria, using Access Bank PLC as a case study. The specific objectives are to:
i.	assess the relationship between debt ratio and the profitability of Access Bank PLC.
ii.	examine the impact of short-term and long-term debt on the financial performance of Access Bank.
iii.	evaluate the effectiveness of debt management strategies adopted by Access Bank PLC.
1.5	Research Hypotheses
The following hypotheses will be tested in the course of the study:

Hypothesis One
H₀: There is no significant relationship between debt ratio and the profitability of Access Bank PLC.
H₁: There is a significant relationship between debt ratio and the profitability of Access Bank PLC.
Hypothesis Two
H₀: Short-term and long-term debts have no significant effect on the financial performance of Access Bank PLC.
H₁: Short-term and long-term debts have a significant effect on the financial performance of Access Bank PLC.
Hypothesis Three
H₀: Interest expense does not significantly influence the net profit margin of Access Bank PLC.
H₁: Interest expense significantly influences the net profit margin of Access Bank PLC.
1.6	Significance of the Study
This study is significant as it provides insights into how debt management practices influence the profitability of deposit money banks, with a focus on Access Bank PLC. The findings will be valuable to bank managers and financial analysts in understanding how best to structure and manage debt to optimize performance. Effective debt management can help reduce financial risk and enhance the bank’s competitiveness in a dynamic financial environment.
Additionally, this research will be beneficial to policymakers and regulators such as the Central Bank of Nigeria (CBN), as it will offer empirical evidence on the consequences of poor debt management and support the formulation of more effective regulatory frameworks. Furthermore, academic researchers and students in finance and banking will find the study useful as a reference for future research and theoretical development in the area of financial performance and debt management.
1.7	Scope of the Study
This study focuses on examining the effect of debt management on the profitability of deposit money banks in Nigeria, using Access Bank PLC as a case study. It covers a period of five years (e.g., 2018–2022), during which relevant financial statements and debt records of Access Bank will be analyzed. The research considers key debt management indicators such as debt ratio, short-term and long-term debt, interest expenses, and their relationship with profitability indicators like return on assets (ROA), return on equity (ROE), and net profit margin.
1.8	Definition of Terms
Debt Management: The process by which a bank plans, organizes, and controls its borrowing and debt servicing activities to ensure financial sustainability.
Profitability: A measure of the efficiency with which a bank uses its resources to generate earnings, often assessed through metrics like return on assets (ROA) and net profit margin.
Deposit Money Banks (DMBs): Financial institutions that accept deposits from the public and provide loans and other banking services, including Access Bank PLC.
Debt Ratio: A financial ratio that indicates the proportion of a bank’s assets that are financed by debt.
Short-term Debt: Borrowings that are due for repayment within a year, often used to meet immediate financial needs.
Long-term Debt: Loans or financial obligations that are due for repayment over a period longer than one year.
Interest Expense: The cost incurred by a bank for borrowed funds, which affects its overall profitability.
Net Profit Margin: A financial ratio that shows the percentage of revenue that remains as profit after all expenses are deducted.
1.9	Plan of the Study
This study is organized into five comprehensive chapters, each contributing to the overall objective of examining the effect of debt management on the profitability of deposit money banks in Nigeria, with a particular focus on Access Bank Plc.
Chapter One (Introduction): This chapter presents the background to the study, the statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study, and definition of relevant terms. It sets the foundation upon which the study is built.
Chapter Two (Literature Review): This chapter provides a detailed review of both theoretical and empirical literature related to debt management and bank profitability. It covers the conceptual framework, theoretical underpinnings, and empirical studies conducted by past researchers. Gaps in the literature are also identified to justify the need for the current study.
Chapter Three (Research Methodology) This chapter outlines the research design adopted for the study, population of the study, sample size and sampling technique (using Yaro Yamane formula), methods of data collection, instruments used, and the method of data analysis. It also highlights the limitations encountered during the research process.
Chapter Four: Data Presentation, Analysis and Interpretation
In this chapter, the data collected from the administered questionnaires are presented, analyzed, and interpreted. Tables, frequency distributions, and percentages are used to describe the responses of the 80 participants. The analysis provides insight into how debt management practices affect the profitability of Access Bank Plc.
Chapter Five: Summary, Conclusion and Recommendations
The final chapter summarizes the major findings of the study, draws conclusions based on the data analyzed, and provides practical recommendations for improving debt management in deposit money banks. Suggestions for further research are also included.

CHAPTER TWO
LITERATURE REVIEW
2.1 CONCEPTUAL FRAMEWORK
2.1.1 	Debt Management
Debt management refers to the strategies, policies, and actions taken by an organization to handle its debt portfolio efficiently. It involves the planning, acquisition, utilization, and repayment of debt in a way that supports the institution’s financial objectives. For banks, effective debt management ensures that borrowed funds are used productively, while also maintaining the ability to meet repayment obligations without compromising profitability or liquidity (Salawu, 2007).
In the context of banking, debt management is crucial because banks deal with large volumes of both short-term and long-term debt instruments. Poor debt decisions can expose a bank to financial distress, while efficient management helps stabilize operations and sustain investor confidence. A well-structured debt portfolio helps a bank balance risk and return, especially in a volatile financial market (Uremadu & Efobi, 2012).
A key aspect of debt management is determining the right mix of debt to equity in the capital structure. The Modigliani and Miller (1958) theorem suggests that in a perfect market, the capital structure is irrelevant. However, in real-world markets with taxes and bankruptcy costs, the choice of capital structure becomes crucial. Banks must consider interest rates, maturity periods, and repayment flexibility when managing debt.
Debt management also entails continuous monitoring of debt service obligations. This includes making timely interest and principal payments and ensuring that loan covenants are not violated. Failure to service debts can damage a bank’s credit rating and access to future financing. Hence, having a clear repayment schedule aligned with cash flows is essential for maintaining financial stability (Kipesha, 2013).
In Nigeria, the Central Bank and other regulatory authorities impose certain guidelines and ratios banks must comply with, including liquidity and capital adequacy ratios. These indirectly influence how banks manage their debts. For example, over-leveraging can trigger regulatory penalties and reduce customer confidence. As such, Access Bank Plc and other financial institutions must operate within these regulatory frameworks while optimizing their debt strategies (CBN, 2020).
Effective debt management also involves evaluating the cost of borrowing. Banks often borrow to expand operations or meet short-term obligations, but it is important to ensure that the return on investment exceeds the cost of debt. High interest rates can erode profits if the borrowed funds are not used efficiently. Strategic borrowing, therefore, must be guided by profitability projections and risk assessment (Akinleye & Sanusi, 2018).
Furthermore, modern debt management practices utilize financial modeling and forecasting tools to analyze different borrowing scenarios. These tools help banks assess how changes in interest rates or inflation affect debt sustainability. By simulating different outcomes, management can make informed decisions about when and how much to borrow, and under what terms (Almazari, 2014).
Lastly, transparency and accountability in debt reporting are critical components of sound debt management. Banks must keep accurate records of all debts, including off-balance-sheet items. Stakeholders such as shareholders, auditors, and regulators rely on these reports to evaluate the financial health of the institution. Inadequate reporting or mismanagement can lead to reputational loss and even insolvency (Nwude & Agbo, 2018).
2.1.2 	Profitability of Deposit Money Banks
Profitability is a critical performance metric that reflects a bank’s ability to generate earnings relative to its expenses and other costs incurred during a specific period. In the banking sector, profitability is not only essential for survival but also for sustaining growth and enhancing shareholder value. Profitability indicators such as Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM) are commonly used to assess the financial health of deposit money banks (Almazari, 2014).
The profitability of a bank is influenced by both internal and external factors. Internal factors include operational efficiency, asset quality, capital structure, and cost management, while external factors involve macroeconomic variables like inflation, interest rates, and regulatory policies. Effective management of these variables enhances a bank’s ability to maximize profit and remain competitive in the industry (Onaolapo & Kajola, 2010).
In Nigeria, deposit money banks operate in a dynamic and highly regulated environment. Profitability in this sector is closely tied to the management of interest income, non-interest income, and operational costs. Banks such as Access Bank Plc derive much of their income from interest earned on loans and advances, and thus must manage their lending operations effectively to ensure returns outweigh the risks involved (CBN, 2020).
Moreover, the capital adequacy ratio, liquidity ratio, and asset quality are key determinants of a bank’s profitability. A well-capitalized bank can absorb shocks and sustain lending activities, which enhances profitability. Similarly, banks with high-quality assets are less exposed to defaults, thereby securing their income streams and improving their financial standing (Uremadu & Efobi, 2012).
Another important factor is cost efficiency. Banks that minimize their operational and administrative costs tend to achieve higher profit margins. Cost-to-income ratio is widely used to measure this efficiency. A lower cost-to-income ratio indicates better profitability management. For Access Bank Plc and other Nigerian banks, investments in technology and process optimization have helped reduce overheads and boost returns (Egbide & Salawu, 2017).
Furthermore, banks must maintain a stable and diversified revenue base to remain profitable. Overdependence on interest income may expose banks to interest rate volatility and credit risks. Therefore, successful banks diversify into non-interest income sources such as commissions, trading income, and digital services. This diversification strategy has become increasingly important in Nigeria’s competitive banking landscape (Akinleye & Sanusi, 2018).
Lastly, profitability is also a function of customer satisfaction and retention. Banks that provide quality services, innovative products, and effective customer support are more likely to attract and retain clients, thereby increasing transaction volumes and revenue. Maintaining strong relationships with customers also encourages deposit mobilization, which is essential for funding loans and enhancing profitability (Kipesha, 2013).
2.1.3 	Bad Debt and Its Causes
Bad and doubtful debts have become the bane of banking institution in recent times. These bad debts do erode the liquidation position and profitability of the bank and enhance bank failure if not timely and adequately checked. The causes of bad debts are enumerated below:
1)	Non — Monitoring System: According to Njoku (1998) loans and advances granted to customers are in most cases monitored or supervised by credit officers of the bank. Such funds if not properly checked, beneficiaries of the funds miss- manage it by diverting them to areas not initially stipulated in the loan application form. When this practice of diversion of funds into unhealthy, unproductive and non-profitable venture is envisaged, sources of payment will no longer be feasible and account will develop into problem loan with interests increasingly increasing having a resultant effect of bad debts.
2)	Imperfection Of Security Item Generally, banks accept either primary security or collaterals from borrowers as hedges against defaulting customers and unforeseen circumstances, these security items provide some measures of protection to the lending banker. When the borrowing customer is unable to repay loans and advances extended to it, the bank will call in the advance and sell the security value to recover its money. 
3)	Political Or Social Lending According to Adnumi (1999) "these are loans made to banks on apparent influence, they usually grant to the so called prominent people in the society who pledge little or no collaterals to support the loans and advances. Since these type of loans are granted without the normal consideration of the SC" of credit (character, capacity, capital, condition and collateral) lending usually constitute high rate of debts for banks.
4)	Under and Over Lending According to Njoku (1979) "both types of lending emanate from improper appraised and costing of project to ascertain customers exact financial requirement. Under lending will bring operations to a lack and hence also make repayment of loaned fund impracticable while over lending could bring unchecked expansion which could tamper with the smooth running of the organization. These unseen trends creates bad and doubtful debt to a large extent.
2.1.4	 Effects of Debts on Banks' Performance. 
It is imperative that loans be properly monitored to check the possibility of their getting bad. The incidence of bad debts takes a great chunk of banks' annual profit which they need to stay in business. Akwaeze (1988) in his article "how to deal with bank debtors" observed that many well established banks overseas have been reporting operating losses which were brought about by the phenomenal increase in bad and doubtful debts. Ajani (1992) posits that one of the most serious lapses that can make a high flyer manager lose everything overnight is the mismanagement or maladministration of his credit portfolio. Usually money lost by a bank in this way is not easy to recover. He opined that a branch manager should personally review his credit portfolio as often as possible so as to detect early warning signals (EWS) and tackle such. Some of the EWS include persistent overdrawing without previous arrangement, Kite flying or cross flying of cheques, paying creditors in round amounts/figures, persistent incidence of unpaid items, regular appropriation of lodgements, artificial/bogus turnover, adverse grapevine report on client etc. According to him, in tackling this, while others demand the red card approach, others demand the yellow card approach. The yellow card approach takes the form of telephone calls, returning cheques with reason 'Drawer Attention Required' (DAR) while the red card approach can be by way of formal letter expressing displeasure, returning cheques with reason- 'refers to drawer' mandatory notice to put account in order and so on.
2.1.5	Debt/Credit Management Strategies
Madel (1999) stated, "it is quite obvious that greater percentage of most bank earnings come from the interest earned from loans and advances (credits) granted to customers. Banks should therefore employ policies and strategies that would ensure effective management of banks loan portfolio. Graham therefore suggests that one of the policies to be adopted by banks is policy strategy. This is where banks and other financial institutions should endeavour to have a credit policy manual which should be updated regularly to meet the changing business environment. Such credit manuals should provide rules and regulations guiding the important aspect of work being performed within their credit department. The reason for the manual is to understand and recognize important issues and to ensure consistent thinking and action on these issues by people inside the department Nwite (2009) also suggested the following credit management strategies.
•	Establishing principles to apply in lending decisions about granting loan. 
•	Formulating and implementing a policy for credit. 
•	Credit assessment of individual customers for decisions on whether to grant loan or not. 
•	Monitoring the credit worthiness and credit limit of customers. 
•	Arranging secured methods of payment. 
•	Continue monitory of debtors and bad debts.
2.2 	THEORETICAL FRAMEWORK
2.2.1 	Portfolio Theory
Since the 1980s, companies have successfully applied modern portfolio theory to market risk. Many companies are now using value at risk models to manage their interest rate and market risk exposures. Unfortunately, however, even though credit risk remains the largest risk facing most companies, the practice of applying modern portfolio theory to credit risk has lagged (Margrabe, 2007). Traditionally, organizations have taken an asset-by-asset approach to credit risk management. While each company’s method varies, in general this approach involves periodically evaluating the quality of credit exposures, applying a credit risk rating, and aggregating the results of this analysis to identify a portfolio’s expected losses. The foundation of the asset-by-asset approach is a sound credit review and internal credit risk rating system. This system enables management to identify changes in individual credits, or portfolio trends in a timely manner. Based on the changes identified, credit identification, credit review, and credit risk rating system management can make necessary modifications to portfolio strategies or increase the supervision of credits in a timely manner. While the asset-by-asset approach is a critical component to managing credit risk, it does not provide a complete view of portfolio credit risk, where the term risk refers to the possibility that actual losses exceed expected losses.
2.2.2 	Arbitrage Pricing Theory (APT)
A more interesting alternative was the Arbitrage Pricing Theory (APT) of Ross (1976). Stephen Ross's APT approach moved away from the risk vs. return logic of the CAPM, and exploited the notion of pricing by arbitrage to its fullest possible extent. As Ross himself has noted, arbitrage-theoretic reasoning is not unique to this particular theory but is in fact the underlying logic and methodology of virtually all of finance theory. This theory subscribes to the fact that an estimate of the benefits of diversification would require that practitioners calculate the covariance of returns between every pair of assets. In their Capital Asset Pricing Model (CAPM), Morris (2001) solved this practical difficulty by demonstrating that one could achieve the same result merely by calculating the covariance of every asset with respect to a general market index. With the necessary calculating power reduced to computing these far fewer terms (betas), optimal portfolio selection became computationally feasible.
2.2.3 	Information Theory 
Derban, Binner and Mullineux (2005) recommended that borrowers should be screened especially by banking institutions in form of credit assessment. Collection of reliable information from prospective borrowers becomes critical in accomplishing effective screening as indicated by symmetric information theory. Qualitative and quantitative techniques can be used in assessing the borrowers although one major challenge of using qualitative models is their subjective nature. However according to Derban, Binner and Mullineux (2005), borrowers attributes assessed through qualitative models can be assigned numbers with the sum of the values compared to a threshold. This technique minimizes processing costs, reduces subjective judgments and possible biases.
2.3 	EMPIRICAL REVIEW
It is universally acknowledged that the banking industry plays a catalytic role in the process of economic growth and development (Uwuigbe, Uwuigbe and Daramola, 2014). This acknowledgement is reinforced by contemporary conceptualization to the effect that banks are veritable vehicles for mobilizing resources (funds) from surplus units and channeling them to deficit units. These resources belong to customers so a programme must exist for the management of these funds. Prior studies suggests that a good credit risk architecture, policies and structure of credit risk management, credit rating system, monitoring and control contributes to the success of credit risk management system Bachi (2003). Similarly, Muninarayanappa and Nirmala (2004) in a related study opined that the success of credit risk management require maintenance of proper credit risk environment, credit strategy and policies. Thus the ultimate aim should be to protect and improve the loan quality. In the same vein, findings from Salas and Saurina (2002) revealed that growth in GDP, rapid credit expansion, bank size and capital ratio had a significant impact on the non-performing loans.
Felix and Claudine (2008) examined the association between the performance of banks and credit risk management. As part of their findings, they observed that return on equity and return on assets both measuring profitability were inversely related to the ratio of non-performing loans to total loans of financial institutions thereby leading to a decline in profitability. Also, Hosna, et al. (2009) in their study opined that credit risk has a significant positive effect on the profitability of commercial banks in Sweden. Correspondingly, Kithinji (2010) examined the effects of credit risk management on commercial banks profitability in Kenya. They observed that the level of credit was high in the early years of the implementation of Basle II but decreased significantly in 2007 and 2008, probably when the Basle II was implemented by commercial banks. The findings revealed that the bulk of the profits of commercial banks are not influenced by the amount of credit and non-performing loans suggesting that other variables other than credit and non-performing loans impact on profits. Funso et al. (2012) investigates the quantitative effect of credit risk on the performance of commercial banks in Nigeria for the period 2000-2010. Findings from their study showed that the effect of credit risk on bank performance measured by the return on assets of banks is cross sectional invariant.
Robert and Gary (1994) stated that most obvious characteristics of failed banks are not poor operating efficiency, however, but an increased volume of nonperforming loans. Nonperforming loans in failed banks have typically been associated with regional macroeconomic problems. Koehn and Santomero (1980), Kim and Santomero (1988) and Athanasoglou et al. (2005), suggest that bank risk taking has pervasive effects on bank profits and safety. Bobakovia (2003) asserts that the profitability of a bank depends on its ability to foresee, avoid and monitor risks, possible to cover losses brought about by risk arisen.
In Nigeria, Kargi (2011) examined the impact of credit risk on the profitability of Nigerian banks. Findings from the study revealed that credit risk management has a significant impact on the profitability of Nigerian banks. Hence, they opined that banks’ profitability is inversely influenced by the levels of loans and advances, non-performing loans and deposits thereby exposing them to great risk of illiquidity and distress. Although, some considerable amount of literature exists on the interaction between finance and credit management on banks liquidity position, however, the same is not true in developing economies like Nigeria where there is a relatively dearth in literature in this area, coupled with the huge institutional differences between Nigeria and other developed economies.
Owojori et al (2011) highlighted that available statistics from the liquidated banks clearly showed that inability to collect loans and advances extended to customers and directors or companies related to directors/managers was a major contributor to the distress of the liquidated banks. At the height of the distress in 1995, when 60 out of the 115 operating banks were distressed, the ratio of the distressed banks’ non-performing loans and leases to their total loans and leases was 67%. The ratio deteriorated to 79% in 1996; to 82% in 1997; and by December 24th the licenses of 35 of the distressed banks had been revoked. In 2003, only one bank (Peak Merchant Bank) was closed. No bank was closed in the year 2004. Therefore, the number of banking licenses revoked by the CBN since 1994 remained at 36 until January 2006, when licenses of 14 more banks were revoked, following their failure to meet the minimum recapitalization directive of the CBN. At the time, the banking licenses were revoked, some of the banks had ratios of performing credits that were less than 10% of loan portfolios. In 2000 for instance, the ratio of non performing loans to total loans of the industry had improved to 21.5% and as at the end of 2001, the ratio stood at 16.9%. In 2002, it deteriorated to 21.27%, 21.59% in 2002 and in 2004, the ratio was 23.08% (NDIC Annual Reports- various years).
2.4 	GAPS IN THE LITERATURE
Despite the extensive body of research on debt management and bank profitability, a significant portion of the existing literature tends to focus on developed economies, with limited empirical studies tailored specifically to the Nigerian banking sector. While some scholars have examined capital structure and its influence on profitability (Uremadu & Efobi, 2012; Almazari, 2014), few have explored the intricate dynamics of debt management strategies within individual deposit money banks like Access Bank Plc. This creates a gap in understanding how debt decisions are made and how these decisions directly affect operational performance and financial outcomes in the context of Nigeria’s unique regulatory and economic environment.
Furthermore, previous studies have often concentrated on general financial performance without isolating the specific impact of debt composition, maturity structure, or cost of debt on profitability (Egbide & Salawu, 2017). Many studies also employ macro-level analysis, which overlooks the internal operational policies and strategic management decisions that significantly influence profitability at the firm level. This study addresses these limitations by providing a focused case analysis of Access Bank Plc, combining both theoretical insight and primary data to assess the relationship between debt management practices and profitability. By doing so, it contributes to bridging the knowledge gap and offering practical insights for policymakers, bank managers, and researchers.

CHAPTER THREE
RESEARCH METHODOLOGY
3.1 	Introduction to Methodology
This chapter provides an overview of the research methodology employed in examining the effect of debt management on the profitability of deposit money banks in Nigeria, with a focus on Access Bank PLC. The methodology includes the research design, data collection methods, sampling techniques, and data analysis procedures. This chapter also discusses the limitations associated with the chosen research methodology. The goal is to outline how data was systematically gathered, analyzed, and interpreted to answer the research questions while ensuring reliability and validity.
3.2 	Research Design
The research design adopted for this study is descriptive, which is suitable for exploring the relationship between debt management practices and the profitability of Access Bank PLC. Descriptive research helps in understanding the characteristics of the subject under study without manipulating any variables. This design will allow the researcher to capture the key variables, including debt management practices, profitability indicators such as Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM). A descriptive approach also aids in identifying patterns or trends that may exist between debt management and profitability over time at Access Bank.
3.3 	Population of the Study
The population for this study consists of 100 employees and management staff from various departments within Access Bank PLC. These individuals were selected because they play a key role in debt management decision-making or are impacted by its outcomes. They include employees from the finance, risk management, strategic planning, and operations departments. The study assumes that these employees, given their involvement in day-to-day banking operations, can provide valuable insights into how debt management strategies affect the bank's profitability.
3.4 Sample Size and Sampling Techniques
The sample size for this study is determined using Yaro’s Formula, which is commonly used in determining sample sizes for a finite population. Yaro’s formula is given by:
n =	
Where:	
	n =	Sample size
	N =	Population size
	e =	Level of error
	I =	Mathematical constraint
The level of error of 0.05 was chosen by the researcher
Therefore;
		n =	
		n =	
		n = 80Thus, the sample size for the study is 80 respondents.
The sampling technique used for this study is simple random sampling. This method ensures that each member of the population has an equal chance of being selected. Simple random sampling is appropriate as it minimizes bias and helps ensure that the sample is representative of the larger population. Respondents will be chosen from the list of employees at Access Bank PLC, with an effort to include representatives from all relevant departments.
3.5 	Method of Data Collection
This study uses both primary and secondary data collection methods. Primary data will be collected through the use of structured questionnaires. The questionnaires will contain both closed-ended and open-ended questions designed to capture information on debt management practices, the strategies employed by Access Bank PLC, and their impact on profitability. The primary data will be obtained from the selected sample of 80 respondents.
Secondary data will be obtained from Access Bank’s annual reports, financial statements, and other publicly available documents. These documents will provide quantitative data on profitability indicators, such as Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM), as well as historical data on the bank’s debt levels and management strategies. These secondary sources will supplement the primary data and allow for a more comprehensive analysis.
3.6 	Method of Data Analysis
The data collected will be analyzed using descriptive statistics, specifically using tables, frequencies, and percentages. Descriptive statistics help summarize the data and make it easier to identify trends and patterns in the relationship between debt management and profitability.
1.	Tables will be used to present data in an organized and easy-to-read format.
2.	Frequencies will indicate how often a particular response or data point occurs, helping to identify the most common practices or perceptions among the respondents.
3.	Percentages will be calculated to provide an understanding of the distribution of responses, making it easier to compare the various variables.
3.7 Limitations to Methodology
While the research methodology outlined above provides a strong framework for understanding the impact of debt management on profitability at Access Bank PLC, there are some limitations:
1.	Sample Size Limitations: Despite using Yaro’s formula to calculate the sample size, the sample of 80 respondents may not fully capture all perspectives within the bank, especially in larger institutions with many departments. Some groups may be underrepresented, and this may affect the generalizability of the findings to the entire population of employees at Access Bank.
2.	Non-Response Bias: Since the study relies on questionnaires, there is a possibility of non-response or incomplete responses, especially if some employees feel that the information being sought is too sensitive. Non-responses could skew the results.
3.	Secondary Data Limitations: The secondary data used in the study is dependent on the accuracy and availability of financial records from Access Bank. Any inconsistencies or limitations in the financial data could affect the analysis and interpretation of profitability indicators.
4.	Time Constraints: The study is cross-sectional in nature and covers a specific time period. As such, it may not fully capture long-term trends or the impact of any recent changes in the bank’s debt management strategies.
5.	Generalization: The findings of the study may be limited to Access Bank PLC, and care should be taken when attempting to generalize the results to other banks in Nigeria or beyond.

CHAPTER FOUR
DATA PRESENTATION, ANALYSIS, AND INTERPRETATION
4.1 Data Presentation
This chapter presents the data collected from the 80 respondents based on the questionnaire provided. The data is presented in tables, with each table reflecting the responses to a specific question in the survey. After presenting the data, we analyze and interpret the responses to understand the relationship between debt management practices and the profitability of Access Bank PLC.
Section A: Demographic Information
1. Gender
Gender	Frequency	Percentage (%)	
Male	40	50	
Female	40	50	
Total	80	100	
Source: Field work Analysis, 2025
The gender distribution is perfectly balanced, with 50% male and 50% female respondents. This ensures equal representation of both genders in the study.
2. Age Group
Age Group	Frequency	Percentage (%)	
18-25	12	15	
26-35	30	37.5	
36-45	20	25	
46 and above	18	22.5	
Total	80	100	
Source: Field work Analysis, 2025
The majority of respondents (37.5%) fall within the 26-35 age group, followed by the 36-45 group (25%). This indicates that most respondents are in their early to mid-career stages, which likely influences their understanding of debt management in the banking sector.
3. Level of Education
Level of Education	Frequency	Percentage (%)	
Undergraduate	15	18.75	
Graduate	40	50	
Postgraduate	25	31.25	
Total	80	100	
Source: Field work Analysis, 2025
A significant number of respondents (50%) are graduates, with 31.25% having completed postgraduate education. This shows that the respondents possess a relatively high level of education, which is likely to affect their perceptions and understanding of banking and debt management practices.
4. Occupation
Occupation	Frequency	Percentage (%)	
Student	15	18.75	
Banking Professional	25	31.25	
Business Owner	20	25	
Other	20	25	
Total	80	100	
Source: Field work Analysis, 2025
31.25% of respondents are banking professionals, followed by 25% business owners and 25% in other occupations. This suggests that a significant portion of respondents has direct experience or interest in banking, which is important for understanding debt management practices in the sector.
5. Years of Experience in the Banking Sector
Years of Experience	Frequency	Percentage (%)	
0-5 years	15	18.75	
6-10 years	25	31.25	
11-15 years	20	25	
16 years and above	20	25	
Total	80	100	
Source: Field work Analysis, 2025
The largest group (31.25%) of respondents have between 6 to 10 years of experience in the banking sector, followed by those with 11-15 years and 16+ years of experience (both 25%). This suggests that respondents are well-established in their careers and likely have substantial knowledge of banking operations, including debt management.
4.2 Data Analysis
Each table below provides the frequency distribution of responses to each question, along with their respective percentages. This allows for a clear overview of the respondents' views on debt management and its impact on profitability.
Question 1: Debt management is a critical component of Access Bank's overall profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	35	43.75	
Agree	30	37.5	
Neutral	5	6.25	
Disagree	7	8.75	
Strongly Disagree	3	3.75	
Total	80	100	
Source: Field work Analysis, 2025
A significant majority (81.25%) of respondents agree or strongly agree that debt management is a critical component of Access Bank's overall profitability. This indicates that most employees recognize the importance of effective debt management in driving the bank's financial performance.
Question 2: Effective debt management strategies positively influence the bank's return on assets (ROA).
Response	Frequency	Percentage (%)	
Strongly Agree	38	47.5	
Agree	28	35	
Neutral	7	8.75	
Disagree	5	6.25	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
Most respondents (82.5%) strongly agree or agree that effective debt management positively influences the bank's ROA. This reflects the belief that managing debt effectively contributes to the profitability of Access Bank, particularly in terms of asset utilization.
Question 3: The bank's debt servicing ability significantly impacts its profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	40	50	
Agree	25	31.25	
Neutral	7	8.75	
Disagree	5	6.25	
Strongly Disagree	3	3.75	
Total	80	100	
Source: Field work Analysis, 2025
A strong majority (81.25%) agree or strongly agree that debt servicing ability significantly impacts profitability. This suggests that respondents view timely debt servicing as critical to maintaining profitability at Access Bank.
Question 4: Access Bank's approach to managing bad debts has an influence on its financial performance.
Response	Frequency	Percentage (%)	
Strongly Agree	37	46.25	
Agree	30	37.5	
Neutral	6	7.5	
Disagree	5	6.25	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
A total of 83.75% of respondents agree or strongly agree that managing bad debts has a significant influence on Access Bank's financial performance. This highlights the importance of effective bad debt management in sustaining profitability.
Question 5: The proper allocation of the bank’s debt portfolio improves profitability in the long run.
Response	Frequency	Percentage (%)	
Strongly Agree	30	37.5	
Agree	35	43.75	
Neutral	8	10	
Disagree	5	6.25	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
71.25% of the respondents agree or strongly agree that proper allocation of debt improves profitability in the long term. This response reflects a shared understanding that a well-managed debt portfolio can lead to sustainable profitability.
Question 6: Debt restructuring practices contribute to the profitability of Access Bank.
Response	Frequency	Percentage (%)	
Strongly Agree	35	43.75	
Agree	28	35	
Neutral	10	12.5	
Disagree	4	5	
Strongly Disagree	3	3.75	
Total	80	100	
Source: Field work Analysis, 2025
A total of 78.75% of respondents agree or strongly agree that debt restructuring contributes to profitability. This indicates that debt restructuring strategies are viewed as effective tools for maintaining or boosting the bank's financial health.
Question 7: The profitability of Access Bank increases when the ratio of non-performing loans (NPLs) is minimized.
Response	Frequency	Percentage (%)	
Strongly Agree	42	52.5	
Agree	25	31.25	
Neutral	7	8.75	
Disagree	4	5	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
A substantial majority (83.75%) of respondents agree or strongly agree that minimizing non-performing loans (NPLs) increases the profitability of Access Bank. This shows that respondents view effective management of loan defaults as crucial to the bank's profitability.
Question 8: The management of debt risk is vital for the bank's sustained profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	45	56.25	
Agree	25	31.25	
Neutral	5	6.25	
Disagree	3	3.75	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
An overwhelming 87.5% of respondents agree or strongly agree that debt risk management is essential for Access Bank’s sustained profitability. This shows that risk management is a key aspect of financial sustainability, and respondents believe that managing debt-related risks is necessary for long-term success.
Question 9: Improved cash flow from better debt management increases the bank’s profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	50	62.5	
Agree	20	25	
Neutral	7	8.75	
Disagree	3	3.75	
Strongly Disagree	0	0	
Total	80	100	
Source: Field work Analysis, 2025
A significant majority (87.5%) of respondents agree or strongly agree that improved cash flow from better debt management contributes to increased profitability. This indicates that respondents see cash flow as a direct outcome of effective debt management, which in turn enhances financial performance.
Question 10: Debt management policies affect the overall liquidity position of Access Bank.
Response	Frequency	Percentage (%)	
Strongly Agree	37	46.25	
Agree	32	40	
Neutral	7	8.75	
Disagree	4	5	
Strongly Disagree	0	0	
Total	80	100	
Source: Field work Analysis, 2025
A total of 86.25% of respondents agree or strongly agree that debt management policies affect the overall liquidity position of Access Bank. This shows that effective debt management is perceived to have a direct impact on the bank's liquidity, which is a key factor in ensuring smooth operations and profitability.
Question 11: The use of debt as a source of financing has a positive impact on the bank’s return on equity (ROE).
Response	Frequency	Percentage (%)	
Strongly Agree	40	50	
Agree	28	35	
Neutral	7	8.75	
Disagree	3	3.75	
Strongly Disagree	2	2.5	
Total	80	100	
Source: Field work Analysis, 2025
75% of respondents agree or strongly agree that using debt as a source of financing positively impacts the bank's return on equity (ROE). This suggests that respondents view debt as a potential tool to enhance the bank’s equity returns, contributing positively to profitability.
Question 12: Debt management practices of Access Bank have contributed to the bank’s competitive advantage in the market.
Response	Frequency	Percentage (%)	
Strongly Agree	36	45	
Agree	34	42.5	
Neutral	6	7.5	
Disagree	3	3.75	
Strongly Disagree	1	1.25	
Total	80	100	
Source: Field work Analysis, 2025
A combined 87.5% of respondents agree or strongly agree that the bank's debt management practices have contributed to its competitive advantage. This shows that respondents believe managing debt effectively enhances the bank’s position in the competitive market, improving its overall profitability.
Question 13: The implementation of debt covenants by Access Bank improves its profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	30	37.5	
Agree	38	47.5	
Neutral	7	8.75	
Disagree	4	5	
Strongly Disagree	1	1.25	
Total	80	100	
Source: Field work Analysis, 2025
85% of respondents agree or strongly agree that debt covenants have a positive impact on profitability. This suggests that respondents view the use of covenants as an important tool to regulate debt and ensure the bank’s financial well-being.
Question 14: Inadequate debt management practices may lead to a decline in the bank’s profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	48	60	
Agree	25	31.25	
Neutral	5	6.25	
Disagree	2	2.5	
Strongly Disagree	0	0	
Total	80	100	
Source: Field work Analysis, 2025
91.25% of respondents agree or strongly agree that inadequate debt management practices may lead to a decline in profitability. This demonstrates a strong belief among respondents that poor debt management practices have a detrimental effect on the bank’s financial performance.
Question 15: The management of debt ratios at Access Bank is key to sustaining long-term profitability.
Response	Frequency	Percentage (%)	
Strongly Agree	41	51.25	
Agree	32	40	
Neutral	5	6.25	
Disagree	2	2.5	
Strongly Disagree	0	0	
Total	80	100	
Source: Field work Analysis, 2025
91.25% of respondents agree or strongly agree that managing debt ratios is crucial for sustaining long-term profitability. This indicates a strong consensus on the importance of maintaining optimal debt levels to ensure the bank's financial sustainability.
4.3 	Data Interpretation
The data gathered from the survey indicates that debt management is viewed as a critical factor in enhancing Access Bank’s profitability. Key insights include the positive relationship between effective debt management and profitability, with a focus on debt servicing, minimizing non-performing loans, managing debt risks, and improving cash flow. A significant number of respondents believe that debt restructuring, debt covenants, and managing debt ratios are essential practices that contribute to the bank's competitive edge and long-term financial success.
From the analysis of the data presented in the tables, it is evident that respondents perceive debt management as crucial to the profitability of Access Bank PLC. Most of the respondents agree that effective debt management, including debt servicing, bad debt management, debt restructuring, and debt portfolio allocation, positively influences the profitability of the bank.
The high percentage of respondents agreeing that debt servicing and bad debt management directly impact profitability indicates that Access Bank's ability to manage its liabilities and minimize non-performing loans is seen as a key factor in maintaining its financial performance.
Additionally, the importance of debt portfolio allocation and debt restructuring is emphasized, with respondents indicating that these strategies help to enhance long-term profitability. Overall, the responses suggest that Access Bank PLC’s debt management practices are critical to sustaining its competitive edge and profitability in the banking sector.

CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 	Summary of Findings
This study was carried out to examine the effect of debt management on the profitability of deposit money banks in Nigeria, using Access Bank Plc as a case study. The research focused on identifying the relationship between debt structure, debt servicing, and profitability, as well as how effective debt management strategies impact financial performance.
The findings revealed the following:
A significant number of respondents agreed that the structure of a bank’s debt portfolio (short-term vs. long-term obligations) plays a vital role in determining its profitability. A well-balanced debt structure minimizes financial risk and improves liquidity, thereby boosting profit levels.
It was discovered that poor debt servicing (i.e., inability to meet interest and principal obligations on time) negatively impacts the financial stability and profitability of banks. Respondents emphasized the need for efficient cash flow planning and debt repayment schedules to ensure profitability. The study also revealed that effective debt management strategies such as risk assessment, periodic reviews of debt ratios, and compliance with regulatory requirements significantly contribute to improved profitability. Most of the respondents were experienced banking professionals, which provided credible insights into the inner workings of bank operations, especially relating to debt management practices.
5.2 	Conclusion
Based on the findings of the study, it can be concluded that debt management has a substantial effect on the profitability of deposit money banks in Nigeria. A well-structured debt portfolio and sound debt servicing practices are essential for ensuring financial stability and profit maximization. The success of any deposit money bank depends on its ability to balance debt with assets and revenue streams.
Access Bank Plc, like many other financial institutions, operates in a competitive and regulated environment. Therefore, its ability to strategically manage its debts directly impacts its operational efficiency and long-term sustainability. When debt is poorly managed, it may lead to liquidity crises, increase in non-performing loans, and decline in profitability. However, with effective policies in place, debt can be a tool for growth rather than a financial burden.
5.3 	Recommendations
Based on the results and conclusion of this study, the following recommendations are made:
i.	Strengthen Debt Assessment Procedures: Access Bank and other deposit money banks should carry out comprehensive risk assessments before acquiring new debts to ensure that such debts will contribute positively to their profitability.
ii.	Implement Effective Debt Monitoring Systems: There should be constant monitoring and evaluation of existing debts to ensure timely servicing and to avoid the accumulation of non-performing loans.
iii.	Train Staff on Debt Management: Periodic training programs should be organized for bank staff to equip them with modern debt management skills and tools.
iv.	Adopt Technological Tools: Banks should invest in advanced financial software and analytics tools to support real-time monitoring of debt ratios and profitability metrics.
v.	Align Debt with Profit Goals: All debt decisions should be strategically aligned with the bank’s long-term profitability goals to avoid over-leveraging and financial instability.
vi.	Comply with Regulatory Standards: Banks must ensure strict compliance with CBN and other regulatory frameworks related to debt acquisition and servicing to reduce exposure to legal and financial risks.

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