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CHAPTER ONE


INTRODUCTION

1.1       BACKGROUND OF THE STUDY
The impact of development banks as catalysts for growth and development explains the global recognition of their significance particularly in the developing nations. They have in various countries been the prime movers of the development with their activities spanning through various sectors of the economy.

The government of most developing countries said the need to raise the pace of economic development and industrial development for the simple fact that outside Agriculture, private sector activity was weak or non-existence.

Developing financial institution was seen as a vehicle to promote and finance the growth of private. It is pertinent to note that the main stream business of banking. Comprises: Retail banking as practised  by commercial comprises banks and developing banking as practiced by development financial such as the Nigeria Bank for Commerce and Industry (NBCI), National Mortgage Bank (FMB), National Economic Reconstruction Fund (NERFUND) amongst others.

Although, the these categories of banks share a common impact in facilitating the mobilization and conversion of resources into investable funds.
However, they differ in their economic objectives and investment policies, whereas the commercial and Merchant Banks are propelled and sustained in their investment activities by the drive towards maximization for the benefit of a social sub-group like shareholders, business community. Etc the development banks are designed to facilitate a broader objective of accelerated economic and industrial development for the benefit of the entire nation.

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