The Impart Of Economic Recession On The Banking Industry" A Case Study Of Oceanic Bank International Plc, Ughelli, Delta State

📄 Project Abstract

The banking industry has been under going several changes in Nigeria in recent years. These change are due to certain environmental factors which include social technological political and economic factors. In discussing the impact of economic recession on the banking industry. It is pertinent (relevant) for us to understand what economic recession is. Recession in an economy can be described as being associated with trade or business cycle which itself can be conceptualized as a continuum of recession; depression, recovery and boom, that is, usually characterized by a significant and worsening drop in the employment and a crippling rise in the level of inflation. Generally, economic recession tend to impact negatively on a country's economy in area such as employment, production, money and wages investment, prices and profits. However, recession may not be harmful to every business organization at a particular point in time or the same company overtime. Hence, while most sectors of t...