CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Engaging an expert with marketing orientation in a bank many years ago would have been considered a misnomer. This is because marketing was considered applicable only to goods and not services for which commercial banks belonged. In order words, banks are now fully marketing conscious and have an equipped marketing department with an expert in the field at the helm. However, before inept insight on “the Role of Marketing in the Commercial Banks in Anambra State” a purview of the development of commercial banks industry in Nigeria is necessary.

 The business of modern banking started in Nigeria in1892 with the establishment of African Banking Corporation. The bank existed for two years and had its assets and liabilities taken over by the bank of British West African in 1894, which later changed to the Standard Bank and is now known as the First Bank of Nigeria Plc.  In 1917, Colonial Bank (Barclays Bank and now Union Bank of Nigeria Plc.) was established.

                  Other banks that were established during the

Neophytic banking era include, the Nigeria Merchant Bank

(1931), Agbommagbe Bank, 1945 (now Wema Bank), the

African Continental Bank Plc (now ACB International Bank Plc. 1947) to mention a few. The failure of many banks during the outset of the neophytic banking era led to the regulated banking era of 1952. it is on record that the activities of these banks centered on commercial banking with much emphasis on the financing of exports and imports activities and does not contribute much on

industries until recently.

 Nigeria has got to the realm of world awareness with amazing speed in the recent past. The present economic situation in Nigeria portrays different pictures to what the situation was some twenty to thirty years ago; hence, it caught the fancy of many industries and commercialists from every sector of the global activities.

 There is the changing industrial and technological landscape in the attempt to diversify the economy, the changing management and administrative technique in all the sectors, the increasing international outlook of the business sector and above all, the changing tastes expectation and increasing sophistication of the people all of which have had tremendous impact on the marketing of goods and services in Nigeria.

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