







































American Interdisciplinary Journal of Business 

and Economics 
ISSN: 2837-1909| Impact Factor : 6.71 

Volume. 10, Number 3; July-September, 2023; 

Published By: Scientific and Academic Development Institute (SADI) 

8933 Willis Ave Los Angeles, California 

https://sadijournals.org/index.php/aijbe| editorial@sadipub.com 

 

 

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ELECTRONIC BANKING AND MARKETING PERFORMANCE OF 

DEPOSIT MONEY BANKS IN UYO, AKWA IBOM STATE 
 

 

 
1Dr. Aniebiet Etuk, 2Aniefiok Okon Akpan and 2Aniekan Eyo Awah 

1Department of Marketing, Akwa Ibom State University, Obio Akpa Campus1 

2Ph.D Student, Department of Marketing, Akwa Ibom State University, Obio Akpa Campus 

DOI: https://doi.org/ 10.5281/zenodo.8346738 

ABSTRACT: The introduction of electronic banking for the purpose of delivering effective and efficient service 

to customers, rather brought disappointments to the customers. There are issues of network failure, fraud, 

unreliable machines, etc. With these disappointments, it is unclear if electronic banking is actually helping banks 

in their marketing effort to acquire new customers. This study therefore investigated the influence of electronic 

banking on marketing performance of deposit money banks in Uyo, Akwa Ibom State. The survey research design 

was used. Primary data were collected from senior staff members of four deposit money banks in Uyo metropolis. 

The banks were First Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Guaranty Trust Bank Plc. 

Census technique was adopted to reach out to the respondents since the population was not very large, and 

questionnaire was used in collecting data. The proxies of electronic banking were automated teller machines, 

point of sales, internet banking, and mobile banking, while the proxy of marketing performance was customer 

acquisition. The regression results revealed that electronic banking significantly influence marketing performance 

of deposit money banks. Thus, it was concluded that adopting electronic banking innovations can enhance 

customer acquisition efforts of deposit money banks. It was therefore recommended among others that deposit 

money banks should continue to deploy electronic banking services through the use of automated teller machine, 

point of sales, internet banking, and mobile banking, as this will help them to keep winning new customers and 

remain competitive. 

KEYWORDS: Electronic banking, Deposit money bank, Banking innovations, Marketing performance, business 

performance, Customer acquisition. 

 

 

 INTRODUCTION  

1.1 Background to the Study 

 Electronic technology has significantly altered the way things are done in today’s world. Now, almost 

every facet of human existence has an electronic aspect. Thus, we have such concepts as electronic learning, 

electronic voting, electronic signature, etc. The business sector is not left out of this electronic revolution, as we 



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have electronic commerce, which consists of several electronic sub-systems, one of which is electronic banking 

(Acha, 2008). 

 The concept of electronic banking (e-banking), according to Batchelor (2017), began in the mid-1970s. 

However, due to lack of internet users, coupled with the cost associated with offering electronic banking services, 

its growth was hindered. But, following the internet explosion in the late 1990s, e-banking received a boost and 

bounced back, as many people became more comfortable with monetary transactions on the web. Since then, 

adoption of e-banking has continued to increase.  

 In Nigeria, electronic banking began in the 1980s, when Automated Teller Machines (ATMs) were 

introduced by some banks. This was followed by tele-banking, introduced in the 1990s among corporate 

customers. Quoting Zarma (2001), Acha (2008) noted that corporate customers also enjoyed the introduction of 

intranet banking, which provided them the opportunity of transacting business with their banks through the use 

of personal computers. Then later on, different forms of smart cards were introduced in to the Nigerian electronic 

banking environment. Today, a wide range of electronic banking services are offered by Nigerian banks such as 

mobile banking, internet banking, point of sales (POS), etc.  

 The emergence of e-banking in Nigeria has greatly helped deposit money banks to enhance their 

performance. It has helped them to reduce their cost of operation and then make more profit (Jimoh, 2019). E-

banking is increasingly playing a great role in determining how banks profitably serve their customers in Nigeria. 

It has brought an average customer, a convenient way of handling financial transactions (mapharing & Basuhi, 

2017) 

1.2 Statement of the Problem  

 Electronic banking is gaining acceptance and popularity in Nigeria. This is reflected in the huge volume 

of financial transactions done through electronic channels (Enoruwa, Ezuem & Nwani, 2019). 

 The inefficiency in service delivery, which characterized the traditional banking system, led to the 

emergence of electronic banking. However, the introduction of electronic banking for the purpose of delivering 

affective and efficient service to customers rather brought disappointments to the customer (sigyanbola, 2013). 

There are issues of network failure, fraud, unreliable machines, etc. (Agbaje & Ayanbadejo, 2013).With these 

disappointments, it is unclear if electronic banking is actually helping banks in their marketing effort to acquire 

new customers. 

 Although many studies have been done to ascertain the contributions of electronic banking to the 

performance of banks in Nigeria (Deekor, 2021; Kabir, Kurfi & Isa, 2021; Ekele & Ukpata, 2020; Aduaka & 

Awolusi, 2020; Jimoh, 2019; Enoruwa, Ezuem & Nwani; 2019; Ajayi&enitolo, 2016; Ojokuku & Sajuyigbe, 

2012), however, most of these studies focused on financial performance. No study was found on the influence of 

electronic banking on marketing performance of banks in Nigeria. This creates a gap in literature. This study 

therefore contributes to closing the gap by investigating the influence of electronic banking (represented by 

Automated Teller Machine (ATM), Point of Sales (POS), Internet banking and Mobile banking) on marketing 

performance (represented by customer acquisition) ofdeposit money banks in Uyo, Akwa Ibom State. 

1.3 Objectives of the Study  

The main objective of the study was to investigate the influence of electronic banking on marketing performance 

of deposit money banks in Uyo, Akwa Ibom State. The specific objectives of the study were to; 



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(i) assess the influence of automated teller machine (ATM) on marketing performance (customer acquisition) 

of deposit money banks in Uyo, Akwa Ibom State. 

(ii) investigate the influence of point of sales (POS) on marketing performance (customer acquisition) of 

deposit money banks in Uyo, Akwa Ibom State 

(iii) examine the influence of internet banking on marketing performance (customer acquisition) of deposit 

money banks in Uyo, Akwa Ibom State 

(iv) ascertain the influence of mobile banking on marketing performance (customer acquisition) of deposit 

money banks in Uyo, Akwa Ibom State.  

1.4 Research Questions 

 The following research questions were raised: 

1. How does automated teller machine (ATM) influence marketing performance of deposit money banks in 

Uyo, Akwa Ibom State? 

2. What influence does point of sales (POS) have on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State? 

3. To what extent does internet banking influence marketing performance of deposit money banks in Uyo, 

Akwa Ibom State? 

4. What influence does mobile banking have on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State? 

1.5 Hypotheses of the Study 

The following null hypotheses were formulated to guide the study: 

Hoi: Automated teller machine (ATM) has no significant influence on marketing performance of deposit 

money banks in Uyo, Akwa Ibom State. 

Ho2: Point of sales (POS) does not significantly influence marketing performance of deposit money banks in 

Uyo, Akwa Ibom State. 

Ho3: Internet banking does not significantly influence marketing performance of deposit money banks in Uyo, 

Akwa Ibom State. 

Ho4: Mobile banking has no significant influence on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State. 

1.6 Significance of the Study  

This study focuses on the influence of electronic banking on marketing performance of deposit money banks in 

Uyo, Akwa Ibom State. The outcome of the study will help deposit money banks to adjust their e-banking 

strategies to acquire more customers. This will no doubt enhance their profitabilityand overall performance. The 

study will also add to the body of knowledge in electronic banking. 

1.7 Scope of the Study 

The study covered the period 2013 to 2022, and considered four major e-barking channels namely automated 

teller machine (ATM), point of sales (POS), internet banking and mobile banking. It focused on marketing 

performance in term of customer acquisition. The study concentrated on four deposit money banks in Uyo 

metropolis namely, First Bank of Nigeria Plc, Zenith Bank Plc, United Bank for African Plc, and Guaranty Trust 

Bank Plc. 

 



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LITERATURE REVIEW  

2.1 Conceptual Review  

2.1.1Electronic Banking 

Electronic banking involves the use of electronic channels and devices to perform banking operations. It can 

remotely deliver financial services to bank customers (Ekele & Sunday, 2020). Electronic banking is an 

innovative solution to financial service delivery that offers a wide range of services. According to Rad, Rasoulian, 

Mirzaei & sharifipour (2017), electronic banking offers such services as cash withdrawal, funds transfer, cash 

deposit, balance enquiry, account statement, signature verification, etc. The emergence of electronic banking has 

made business transactions seamless and almost effortless. The impact is felt not only in the banking/financial 

sector but also in the entire economy (Aduaka & Awolusi, 2020). 

 The major channels of electronic banking are automated teller machine, point of sales, internet banking 

and mobile banking (Demaki, Eromafuru & Festus, 2021). These channels are used as measures of electronic 

banking in this study. 

Automated Teller Machine (ATM) 

ATM is an electronic machine that has record-keeping system and vault, permitting bank customers to enter the 

book-keeping system of the bank through the use of an electronic card, having a personal identification number 

(PIN), and providing customers a 24/7 access to their accounts (Deekor, 2021; JImoh, 2019). A major advantage 

is that ATM does not necessarily need to be located within the bank premises. It can be located in stores, shopping 

malls, restaurants, fuel stations, open market, and any social place. ATM permits bank customers to use any other 

ATM around the world to conduct financial transactions. It is regarded as the basic form of non-branch banking. 

According to Jegede (2014), ATM has significantly enhanced the performance of deposit money banks in Nigeria. 

Point of Sales (POS)  

 This is a retail payment system used to process card payments using PIN. It can be used to make payment 

in retail places like supermarkets, eateries, fuel stations, etc (Deekor, 2021). In Nigeria today, POS has become a 

form of business, where people perform financial transactions such as cash withdrawal, deposits, transfer, etc. at 

a fee.  

POS transfers funds from the customer’s account to the merchant’s account, and records every transaction. It can 

print receipts if needed. The device reads information embedded in the customer’s credit/debit card, checks if 

funds available in the customer’s account are sufficient, and then carries out the required transaction. 

Internet Banking 

 Internet banking involves using the internet to conduct banking activities via the bank’s website. It 

provides home banking services to customers. (Demaki, Eromafuru & Festus, 2021). Internet banking can be 

done anywhere and anytime, provided the enabling facilities are available, such as internet connection and 

personal computer (PC). According to Hassan, Mamman & Farouk (2013), internet banking is used for a variety 

of vital banking services such as payment for goods and services, funds transfer, viewing and printing of account 

statement, etc.  

 

 



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Mobile Banking 

Mobile banking is one of the most recent forms of electronic banking. It involves the use of mobile devices such 

as mobile phones to conduct banking activities. It can be done with or without the use of internet. It helps to 

process and execute transactions on the go (Deekor, 2019). Services that can be performed using mobile banking 

include among others, payment for goods and services, funds transfer, purchase of airtime / data for phone, credit 

application, and checking of account balance (Ndunga, Njati & Rukangu, 2016) 

2.1.2Marketing Performance  

 Marketing performance is simply the results of marketing activities in relation to marketing goals 

(Allocadia, 2021). There are many marketing performance measures available in literature. The concern is always 

with the one(s) to choose (Gronholdt & martensen, 2006). Such measures include brand awareness, customer 

engagement, customer loyalty/ retention, customer acquisition, revenues and sales, etc. The measure has to be 

simple enough to be useable and comprehensive enough to assess the marketing performance. However, the 

measure to use depends on the core objectives the marketer intends to achieve as enshrined in the marketing plan 

(Wrike, 2022). 

 For this study, the measure chosen is customer acquisition because the objective has to do with the 

influence of electronic banking on marketing efforts of banks to acquire new customers. 

2.1.3Deposit Money Banks in Nigeria  

 The Central Bank of Nigeria (CBN), defines deposit money bank as a financial institution licensed by the 

regulatory authority to mobilize deposits from the surplus unit and channel the funds through loans to the deficit 

unit and performs other financial services activities (CBN, n.d.). All commercial banks in Nigeria such as First 

Bank of Nigeria Plc, Guaranty Trust Bank Plc United Bank for Africa Plc. Zenith Bank Plc, etc are deposit money 

banks. 

 According to Adesola & Ewa (2020), the most important institutions for savings mobilization and 

allocation of financial resources are the deposit money banks (DMBs). Thus, DMBs occupy prominent positions 

in economic growth and development in Nigeria.  

It is therefore pertinent to continue to carry out researches aimed at enhancing the performance of these banks. 

2.2 Theoretical Framework  

Bank Focused Theory (Kapoor, 2010) 

 This study was anchored on bank focused theory propounded by Kappor (2010). The theory aims at 

explaining how branchless banking is done. It also highlights the risks and opportunities that come with it. This 

theory has been used widely in electronic banking related studies (Chimezic, Chukuwuemeka & Uche, 2019; 

Dzombo, Kilika & Maingi, 2017; Mwanda, 2013). 

The bank focused theory proposes that traditional banks can use non-traditional, inexpensive channels to deliver 

banking services to their existing customers. Examples include using automated teller machines, internet banking, 

and mobile banking among others to provide banking services to bank customers (kapoor, 2013). The theory 

indicates that although branchless banking provides financial institutions with more control and brand visibility, 

it also has challenges, as customers are primarily concerned about such issues as quality, reliability and 

accessibility of service, security of transactions, ease of usage, etc. 

 

 



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2.3 Review of Empirical Studies  

 Deekor (2021) investigated the impact of electronic banking on deposit money banks’ performance in 

Nigeria using secondary data obtained from quarterly reports of the central bank of Nigeria, from 2010 to 2018. 

The author measured electronic banking using four variables; automated teller machine (ATM), point of sale 

(POS), mobile banking, and web pay. Bank performance was measured in terms of net interest margin. Jarquebera 

normality and diagnostic tests as well as Augmented Dickey Fuller unit root test were used on the variables, and 

the results showed ATM, POS, and web pay as being insignificant to net interest margin, while mobile banking 

had a positive and significant impact on bank performance.  

 A similar study was conducted by Demaki, Eromafuru & Festus (2021) to examine the relationship 

between electronic banking and the performance of deposit money banks in Nigeria. Ex-posit facto research 

design was employed for the study. Time series data were obtained from the central Bank of Nigeria quarterly 

bulletin on automated teller machine,internet banking, point of sales and return on assets, from 2009-2019. 

Descriptive and inferential statistical techniques such as mean, standard deviation, Pearson correlation, unit roots, 

co-integration, error correction model Jacque-Beta test and variance inflation factor test were used. Results 

showed that automated teller machine, mobile banking and point of sales were significant in enhancing banks’ 

performance. Internet banking was found to have insignificant influence on banks’ performances. 

Kabir, Kurfi & Isa (2021) examined the impact of electronic banking on financial performance of deposit money 

banks in Nigeria. The study used secondary data obtained from publications and reports covering the period 2013 

to 2017. The electronic banking variables of interest were ATM, mobile banking and internet banking, while 

financial performance was represented by return on assets. A multiple linear regression model was used to 

determine the relationship between electronic banking and return on assets. Findings revealed that electronic 

banking variables (ATM, mobile banking and internet banking) were positively and significantly related with the 

performance of Nigeria deposit money banks. 

 Another study to assess the impact of electronic banking and profitability in the Nigerian banking industry 

was carried out by Aduaka & Awolusi (2020). The survey research design was adopted and primary data were 

collected through the use of questionnaire. The primary data were complemented with secondary data obtained 

from the audited financial reports of the surveyed banks for the period 2010 to 2017. Descriptive and inferential 

statistics were used to analyzed the data. Hypotheses were tested using multiple regression analysis. The 

independent variable (electronic banking) was represented by point of sales (POS), Automated teller machine 

(ATM), cards, internet banking, mobile banking, and corporate payments, while the dependent variable 

(profitability) was represented by net interest margin. The results showed that electronic banking significantly 

influenced profitability of the surveyed bank (Access Bank Plc). 

 Ekele & Sunday (2020) investigated the implications of electronic banking on commercial banks’ 

performance in Nigeria between 2000 and 2017. The study adopted ex-post facto research design. Secondary data 

on personal costs, profit, cost of training and pension benefit were obtained from the audited annual reports of the 

deposit money banks surveyed. Analysis of data was done using panel regression techniques. Findings showed 

that there is a significant relationship between electronic banking and the performance of commercial banks in 

Nigeria.  

 On his part, Jimoh (2019) examined the effect of electronic banking on the profitability of deposit money 

banks in Nigeria. The independent variable (electronic banking) was internet banking, mobile banking, POS, and 



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ATM, while profit margin was used to represent the dependent variable. Time series data were obtained from 

annual reports of Nigerian deposit money banks covering the period 2006 to 2015. Four hypotheses formulated 

were tested using least square regression technique.The results revealed the existence of a positive relationship 

between mobile banking and profitability of deposit money banks. Also, the relationship between POS, ATM, 

mobile banking and profitability was found to be statistically significant, while that of internet banking was 

statistically insignificant. 

Enoruwa, Ezuem & Nwani (2019) studied the relationship between electronic banking and bank performance in 

Nigeria using ex-post facto research design. Secondary data were obtained for the study from the central bank of 

Nigeria bulletin covering the period between 2009 and 2017. The authors used the total bank deposit to measure 

bank performance while transactional values of automated teller machine, mobile banking, point of sales and web 

pay were used as proxies for electronic banking. Pearson correlation analysis was carried on the data and the 

results showed the existence of significant positive relationship between each of the electronic channels and bank 

performance. The study also revealed a high correlation existing between the predictors. 

 In Kenya, Ogutu & Fatoki (2019) examined the effect of e-banking on financial performance of listed 

commercial banks in the country. Four objectives were formulated to guide the study in order to be able to 

establish the effect of mobile banking, ATM banking, agency banking, and online banking on financial 

performance of commercial banks in Kenya. Quantitative research design was adopted for the study. Secondary 

data used in the study were obtained from the banking supervisory reports of the central Bank of Kenya and 

annual reports of Kenyan commercial banks. Descriptive and inferential statistics were used to analyze the data, 

and the results showed a strong positive relationship existing between mobile banking, ATM banking, agency 

banking, online banking and financial performance of banks in Kenya.  

 Similarly, Mapharing & Basuhp (2017) earlier carried out a study on the relationship between electronic banking 

and bank performance in Botswana. The study employed the descriptive design to find out if electronic banking 

indicators such as automated teller machine, electronic fund transfer, cheque clearance, and electronic cash 

transfer at point of sale have an effect on financial performance of banks in Botswana. Secondary data for a period 

of ten years were obtained from the financial statistics reports of the Bank of Botswana. The data were analyzed 

using multiple regression technique to determine the relationship between the dependent variable (profitability, 

measured by return on assets) and the independent variable (electronic banking indicators). The results showed 

that the relationship between electronic fund transfer, automated teller machine, electronic fund transfer at point 

of sale and financial performance was statistically insignificant. It was only cheque clearance that had statistically 

significant relationship with bank performance. 

Ajayi & Enitilo (2016) investigated the impact of electronic banking on bank performance in Ekiti state, Nigeria. 

The authors adopted census sampling technique and collected primary data from one hundred and twenty eight 

senior staff members of the seventeen deposit money banks surveyed. The data were analyzed using multiple 

regression to achieve the objectives of the study. Results of the analysis revealed that electronic banking has 

significant influence on bank performance.  

  



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2.4 Conceptual Model 

Based on the hypotheses, the following conceptual model was constructed 

 

 

 

 

 

 

 

 

 

 

Independent Variables     Dependent Variable  

Fig 1: Research model of electronic banking and marketing performance  

Source: Researcher’s construct 2023 

SECTION 3: METHODOLOGY 

3.1 Research Design  

 For this study, the survey research design was adopted to investigate the influence of electronic banking 

on marketing performance of deposit money banks in Uyo, AkwaIbom State. 

3.2 Population and Sample Size 

 The population of the study comprised senior bank staff (bank managers, marketing managers/officers, 

operation managers, and customer experience officers) in all the branches of the selected deposit money banks 

(First Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Guaranty trust Bank Plc) in Uyo metropolis, 

Akwa Ibom State. The total population was 114 as detailed below: 

Table 3.1 Population of the study 

Banks No. of Branches No of staff members 

qualified for the Study  

First Bank PLc 5(Aka Rd., Abak Rd., Udo Udoma Ave.,91Oron Rd; and 252 

Oron Rd.) 

35 

Zenith Bank Plc 4 (Aka Rd., Abak Rd., Oron Rd., and Udo Udoma Ave.) 30 

United Bank for 

Africa Plc 

4(Aka Rd, Abak Rd, Nwaniba Rd, and Udoudoma Ave) 32 

Guaranty Trust 

Bank Plc 

2 (Abak Rd & Udoudoma Ave) 17 

Total 15 114 

Source: Field survey, 2022 

Since the population was not very large (less than 200) the population was taken as sample, so as to obtain a 

meaningful result (Israel, 2003). Thus, the sample size was 114. 

 

 

Automated Teller Machine   

Point of Sales   

Internet Banking    

Mobile Banking    

Marketing  

Performance  

(i) Customer 

           Acquisition  

 

Electronic Banking 



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3.3 Sampling Technique  

 The census technique was adopted to reach members of the population to obtain data. Census in a 

quantitative research technique that involves collecting information on all elements of the population (Cantwell, 

2011). 

3.4 Research Instrument  

 The research instrument was a structured questionnaire. The instrument was divided into two sections: A 

and B. Section A contained personal data of the respondents, while section B contained likert scale items used in 

testing the hypotheses.  

3.5 Validity and Reliability of the Instrument  

 To ensure that the instrument measured what it was supposed to measure (validity), few copies of the 

questionnaire were given to research experts within the university community to critique and make necessary 

inputs. The inputs were incorporated into the questionnaire before the final copy was produced and administered.  

To test for the reliability of the instrument, twenty copies of the questionnaire were distributed to twenty members 

of the population. Cronbach Alpha test was applied on the data obtained to compute the reliability coefficient. 

The reliability scores for all variables were above the 0.7 threshold of acceptable cronbach Alpha value.  

3.6 Method of Data Analysis  

 Data were analyzed using descriptive and inferential statistics. Thus, frequency count and simple 

parentages were used in analyzing personal data of the respondents, while regression analysis was carried out on 

the four hypotheses.  

SECTION 4: DATA ANALYSIS, RESULTS AND DISCUSSION  

4.1 Data analysis and Results  

Table 4.1 Questionnaire Administration  

Items  Number of copies of questionnaire  Percentage (%) 

Returned in useable form  104 91.23 

Not returned/ un-useable 10 8.77 

Total 114 100 

Table 4.1 above shows that out of the 114 copies of questionnaire that were administered to the respondents, 104, 

representing 91.23% were returned in a useable form while the remaining 10 copies representing 8.77% were 

either returned in unusable form or not returned at all. 

Table 4.2 Gender of Respondents 

 

 Frequency Percent (%) 

Valid Male 46 44.23 

Female 58 55.77 

Total 104 100.0 

Table 4.2above shows that 46(44.23%) out of the 104 respondents were male while 58(55.77%) of the respondents 

were female. Which implies that majority of the respondents were female. 

  



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Table 4.3 Age of Respondents  

 

 Frequency Percent 

Valid 20-29 years 6 5.8 

30-39 years 33 31.7 

40-49 years 58 55.8 

50 years and above 7 6.7 

Total 104 100.0 

Table 4.3 above indicates that those between the ages of 20-29 years made up 5.8% (6) of the respondents, 33 

(31.70%) were those within the age bracket of 30-39 years, 58 (55.8%) were those within the age bracket of 40-

49 years while the respondents who were 50 years of age and above were 7 (6.7%).  

Table4.4 Educational Qualification of Respondents  

 Frequency Percent 

Valid HND/BSc/PGD 61 58.7 

Masters and Above 43 41.3 

Total 104 100.0 

Table 4.4 above shows that respondents who were holders of HND/BSc/PGD were 58.7% (61) while those with 

masters degree and above were43 (41.3%). 

Table 4.5 Working Experience in Banking  

 

 Frequency Percent 

Valid Less than 10 years 7 6.7 

10-14 years 9 8.7 

15-19 years 52 50.0 

20 years and above 36 34.6 

Total 104 100.0 

Table 4.5 indicates the respondents' level of experience in the banking industry. Those with less than 10 years of 

experience were 7 (6.7%), 9 (8.7) of them were those who have between 10-14 years of experience in the banking 

sector. Respondents with 15-19 years of experience in the field were 52 (50.0%) while those with 20 years of 

experience and above were 36 (34.6%). 

Test of Hypothesis One 

H01: Automated teller machine has no significant influence on marketing performance of deposit money banks in 

Uyo, Akwa Ibom State. 

  



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Table 4.6 Model Summary for Hypothesis One 

Model Summary 

Model R R Square 

Adjusted R 

Square 

Std. Error of 

the Estimate 

1 .713a .698 .689 2.38794 

a. Predictors: (Constant), Automated Teller Machine 

ANOVAa 

Model 

Sum of 

Squares df Mean Square F Sig. 

1 Regression 213.080 1 213.080 211.067 .001b 

Residual 1963.911 102 19.254   

Total 2176.990 103    

a. Dependent Variable: Marketing Performance 

b. Predictors: (Constant), Automated Teller Machine 

Coefficientsa 

Model 

Unstandardized Coefficients 

Standardized 

Coefficients 

t Sig. B Std. Error Beta 

1 (Constant) 8.608 1.320  6.520 .000 

Automated Teller Machine .312 .094 .313 3.327 .001 

a. Dependent Variable: Marketing Performance 

The table above with R value of 0.713 indicates that there is astrong relationship between the independent and 

the dependent variables. The R-Square value of 0.698 implies that about 69.8% of the variation in marketing 

performance was explained by automated teller machine.The constant value of 8.608 indicates that keeping 

independent variable (automated teller machine) constant, marketing performancewill remain at8.608. The 

coefficient of automated teller machine was 0.312 which means that a unit change in automated teller machine 

will lead to 0.312 unit change in marketing performance. The P-value of 0.000 means that the effect of automated 

teller machine on marketing performance was statistically significant. 

Test of Hypothesis Two 

H02: Point of sales has no significant influence on marketing performance of deposit money banks in Uyo, Akwa 

Ibom State. 

Table 4.7 Model Summary for Hypothesis Two 

Model Summary 

Mode

l R R Square 

Adjusted R 

Square 

Std. Error of the 

Estimate 

1 .829a .709 .700 2.36189 

a. Predictors: (Constant), Point of Sales 



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ANOVAa 

Model Sum of Squares df Mean Square F Sig. 

1 Regression 236.329 1 236.329 312.421 .001b 

Residual 1940.661 102 19.026   

Total 2176.990 103    

a. Dependent Variable: Marketing Performance 

b. Predictors: (Constant), Point of Sales 

Coefficientsa 

Model 

Unstandardized Coefficients Standardized Coefficients 

t Sig. B Std. Error Beta 

1 (Constant) 8.669 1.237  7.008 .000 

Point of 

Sales 
.333 .094 .329 3.524 .001 

a. Dependent Variable: Marketing Performance 

The table (4.7) above with R value of 0.829 indicates that there is astrong relationship between the dependent and 

the independent variables. The R-Square value of 0.709 implies that about 70.9% of the variation in marketing 

performance was explained by point of sales. The constant value of 8.669 indicates that keeping independent 

variable (point of sales) constant, marketing performance will remain at 8.669. The coefficient of point of sales 

was 0.333which means that a unit change in point of sales will lead to 0.333 unit change in marketing 

performance. The P-value of 0.000 means that the influence of point of sales on marketing performance was 

statistically significant. 

Test of Hypothesis three 

H03: Internet banking has no significant influence on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State. 

Table 4.8 Model Summary for Hypothesis Three  

Model Summary 

Mode

l R R Square 

Adjusted R 

Square 

Std. Error of 

the Estimate 

1 .854a .725 .717 2.32036 

a. Predictors: (Constant), Internet Banking 

ANOVAa 

Model 

Sum of 

Squares df 

Mean 

Square F Sig. 

1 Regression 273.111 1 273.111 214.632 .000b 

Residual 1903.880 102 18.665   

Total 2176.990 103    



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a. Dependent Variable: Marketing Performance 

b. Predictors: (Constant), Internet Banking 

Coefficientsa 

Model 

Unstandardized 

Coefficients 

Standardized 

Coefficients 

t Sig. B Std. Error Beta 

1 (Constant) 8.992 1.072  8.387 .000 

Internet 

Banking 
.327 .085 .354 3.825 .000 

a. Dependent Variable: Marketing Performance 

Table 4.8 above with R value of 0.854 indicates that there is a significant relationship between the dependent and 

the independent variables. The R-Square value of 0.725 implies that about 72.5% of the variation in marketing 

performance was explained by internet banking. The constant value of 8.992 indicates that keeping the 

independent variable (internet banking) constant, marketing performance will remain at 8.992. The coefficient of 

internet banking was 0.327which means that a unit change in internet banking will lead to 0.327 unit change in 

marketing performance. The P-value of 0.000 means that the influence of internet banking on marketing 

performance was statistically significant. 

Test of Hypothesis four 

H04: Mobile banking has no significant influence on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State. 

Table 4.9 Model Summary for Hypothesis Four  

Model Summary 

Mode

l R R Square 

Adjusted R 

Square 

Std. Error of 

the Estimate 

1 .864a .733 .724 1.90252 

a. Predictors: (Constant), Mobile Banking 

ANOVAa 

Model 

Sum of 

Squares df 

Mean 

Square F Sig. 

1 Regression 288.800 1 288.800 228.601 .000b 

Residual 1888.190 102 18.512   

Total 2176.990 103    

a. Dependent Variable: Marketing Performance 

b. Predictors: (Constant), Mobile Banking 



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Coefficientsa 

Model 

Unstandardized 

Coefficients 

Standardized 

Coefficients 

t Sig. B Std. Error Beta 

1 (Constant) 8.368 1.189  7.036 .000 

Mobile 

Banking 
.377 .095 .364 3.950 .000 

a. Dependent Variable: Marketing Performance 

Table 4.9 with R value of 0.864 indicates that there is a strong relationship between the dependent and the 

independent variables. The R-Square value of 0.733 implies that about 73.3% of the variation in marketing 

performance was explained by mobile banking. The constant value of 8.368 indicates that keeping independent 

variable (mobile banking) constant, marketing performance will remain at 8.368. The coefficient of mobile 

banking was 0.377which means that a unit change in mobile banking will lead to 0.377 unit change in marketing 

performance. The P-value of 0.000 means that the influence of mobile banking on marketing performance was 

statistically significant. 

4.2 Discussion of Findings  

 The study revealed that electronic banking has a significant influence on marketing performance of deposit 

money banks in Uyo, Akwa Ibom State. The regression result indicated that the use of automated teller machine 

can enhance customer acquisition amongst Nigerian deposit money banks. The result also showed that point of 

sales is significant in helping banks to acquire new customers. Again, the result revealed that internet banking 

can make the task of getting new customers easy for banks. Furthermore, the result established that mobile 

banking can enhance marketing success of deposit money banks in Uyo, Akwa Ibom State. 

 These results are in agreement with Deekor (2021) who investigated the impact of electronic banking on 

deposit money banks’ performance in Nigeria and found that automated teller machine, point of sales, mobile 

baking and web pay have a positive and significant impact on bank performance. The results are also in consonant 

with the findings of other similar studies such as Demaki, Eromatun & Festus (2021); Kabir, Kurfi & Isa (2021); 

Aduaka & Awolusi (2020), and Jimoh (2019) among others.  

 The implication of the result is that for deposit money banks to be able to acquire new customers in today’s 

competitive business environment, they need to continue to adopt electronic banking innovations as such 

innovations will help them to enjoy competitive advantage. 

5.1 Summary  

The objective of the study was to investigate the influence of electronic banking on marketing performance of 

deposit money banks in Uyo, Akwa Ibom State. Questionnaire was the instrument used in collecting primary data 



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and the hypotheses formulated were tested using simple regression. The proxies of electronic banking (automated 

teller machine, point of sales, internet banking and mobile banking) and that of marketing performance were 

examined. 

 Hypothesis one stated that automated teller machine has no significant influence on marketing 

performance of deposit money banks in Uyo, Akwa Ibom State. The results showed that automated teller machine 

has a significant influence on marketing performance of the banks. 

 Hypothesis two stated that point of sales does not significantly influence marketing performance of deposit 

money banks in Uyo, Akwa Ibom State. Findings contradicted this hypothesis by showing that point of sales 

significantly influences marketing performance of deposit money banks. 

 Hypothesis three, which stated that internet banking does not significantly influence marketing 

performance of deposit money banks in Uyo, Akwa Ibom State, was rejected. as results showed that internet 

banking significantly influences marketing performance of the banks. 

 Hypothesis four which stated that mobile banking has no significant influence on marketing performance 

of deposit money banks in Uyo, Akwa Ibom State, was also rejected because the results revealed that mobile 

banking has significant influence on marketing performance of the banks. 

5.2 Conclusion  

 The study aimed at investigating the influence of electronic banking on marketing performance of deposit 

money banks in Uyo, Akwa Ibom State. Based on the results, it was concluded that: 

• Automated Teller Machine (ATM) has significant influence on marketing performance of deposit money 

banks in Uyo, Akwa Ibom State. 

• Point of sale (POS) significantly influences marketing performance of deposit money banks in Uyo, Akwa 

Ibom State. 

• Internet banking significantly influences marketing performance of deposit money banks in Uyo, Akwa 

Ibom State 

• Mobile banking has significant influence on marketing performance of deposit money banks in Uyo, 

Akwa Ibom State.  

5.3 Recommendations  

 On the basis of the findings, the following recommendations were made: 

(i) Deposit money banks should continue to deploy electronic banking services through the use of automated 

teller machine, point of sales, internet banking, and mobile banking, as this will help them to keep winning new 

customers and remain competitive. 

(ii) Deposit money banks should always look out for emerging electronic banking technologies to ensure 

continuous growth in their customer base and general performance  

(iii) Staff members of deposit money banks, who are in-charge of the operations of the electronic banking 

channels, should be trained and motivated on a continuous basis to deliver top notch service that will attract new 

customers  

(iv) Deposit money banks should strive to resolve the challenges that surround electronic banking, such as 

network failure, fraud, faulty machine, etc in order for customers to enjoy effective and efficient electronic 

banking services.  

 



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5.4 Suggestions for Future Research  

Future research should be done on the relationship between electronic banking and customer loyalty, because it 

is one thing to win a new customer and it is another thing to retain that customer. 

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