Determinants of savings mobilization in commercial banks in Uganda, A case of Centenary Bank Greater Kampala Region-Uganda
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The study evaluated the determinants of savings mobilization in commercial Banks with a specific focus on Centenary Bank greater Kampala region in Uganda. It was based on the following objectives; to examine the factors that determine Savings mobilization in Centenary Bank greater Kampala region, to evaluate the levels of savings mobilization in Centenary Bank greater Kampala region and to assess the different Savings mobilization strategies in Centenary Bank greater Kampala region. The study employed a descriptive research survey design based on a sample size of 92 out of 120 study population. Data was collected using questionnaires and interviews which were distributed to staff of Centenary Bank in various departments and few selected customers based on their knowledge on the study variables. Data was analyzed using computer programs such as SPSS 20, and presented using frequency tables and Pie charts; Findings revealed that there was no consensus on agreement that all determinants of savings mobilization were fairing well within centenary bank, furthermore, findings showed that the levels and strategies of savings had average scores on responses that they were also fairing well in the bank. The study found out that income and age of the savers attracted a high positive response with the majority agreeing that it influences saving levels within the bank. In conclusion, we would say that from the analysis, a proper management of money supply and per capita real income variables will help to increase the rate of private domestic savings mobilization by commercial Banks, this will bring increase in savings growth via increase in private domestic savings by commercial Banks and their credits to private sector when adequately monitored for the purpose in which the credit was availed for. The study recommended that commercial banks should manage liquidity that contributes some for reduction of deposit growth and Centenary bank should also keep its liquidity requirement in the future to increase the savings growth of the Bank.