MOBILE BANKING WITHDRAWS AND PROFITABILITY OF COMMERCIAL BANKS IN UGANDA. A CASE STUDY OF THE CENTENARY BANK (MAIN BRANCH) KAMPALA. A CORRELATIONAL, CROSS-SECTIONAL STUDY.

Abstract

Background

This study aims to document the relationship between withdraws and the profitability of Centenary Bank's main branch in Kampala, Uganda. Mobile banking refers to the act of enabling bank customers to access its services using mobile applications like phones and tablets. Withdrawal refers to taking money out of an account. Mobile withdrawals refer to the access to withdrawals using mobile phones. Services include performing withdrawals through a mobile device such as a mobile phone which is most used in developing countries like Uganda. Centenary Bank is one of the leading commercial banks in Uganda. Therefore, this study seeks to assess the relationship between mobile withdrawals and the profitability of Centenary Bank's main branch in Kampala, Uganda.

Methodology

The study adopted a correlational, cross-sectional case study survey design.

Results

Based on the findings, there were significant positive correlations between profitability and mobile bank withdraws (0.613). This means that as these mobile withdrawals increase, the profitability of Centenary Bank tends to increase as well. Further, findings showed that 62.6% of the variation in profitability was explained by mobile bank withdrawals.

Conclusion

It can be concluded that mobile banking activities, including withdrawals, have a positive impact on the profitability of Centenary Bank in Uganda.

Recommendation

Centenary Bank should consistently monitor and analyze the financial performance associated with mobile banking to identify any trends or areas for improvement.

Centenary Bank should continue to invest in upgrading its technology infrastructure and implementing robust security measures to ensure the smooth and secure operation of its mobile banking services.