Abstract
This study investigated the impact of Information and Communication Technology (ICT) on the profitability of Polaris Bank Limited, focusing on its branches in Osogbo Metropolis, Osun State, Nigeria. The survey research design was adopted, with the entire population of sixty-three (63) bank employees across three branches in Osogbo. Data were collected using structured questionnaires and documentary sources, while both descriptive and inferential statistics were employed for analysis. The findings revealed that a variety of ICT tools such as computers, Internet services, ATMs, POS terminals, CCTV systems, and specialized software are available and effectively utilized in the bank’s operations. ICT adoption was found to be primarily driven by management policies and customer demand for efficient and convenient services. The study established a strong and statistically significant relationship between ICT use and profitability, as well as between management support and ICT utilization for profitability enhancement. The findings further indicated that ICT enhances operational efficiency, reduces transaction costs, and improves customer satisfaction, thereby contributing significantly to the bank’s profitability. However, challenges such as the need for continuous staff training, frequent technology updates, and restrictive ICT policies were identified as factors limiting optimal ICT utilization. The study concluded that ICT plays a vital role in improving the operational efficiency and profitability of deposit money banks in Nigeria, particularly when supported by proactive management policies and continuous capacity building.
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