Credit Risk Management, Disaster Recovery and Business Continuity in the Nigerian Banking Industry: Implications on Performance

Abstract

This work reviews the importance of sound credit risk management on performance of Nigerian banks and it was discovered that the efficacy of banking functions relies solely on sound credit risk management which incorporates good plans and strategies to move on if a counterparty in a credit agreement defaults on the agreement. The work also shows the way a bank ensures continued, uninterrupted operation of their activities after disaster must have occurred. Banks should not wait for a disaster to strike before they put in place measures or strategies to ensure that specific tasks can be continued or recovered in a well-timed style in the event of interruption of business activities as they should have the plan written out from inception of their existence.

Keywords: Credit Risk Management; Disaster Recovery; Business Continuity; Performance

DOI: 10.7176/IKM/9-9-05

Publication date:October 31^st 2019