Research Objective: This study investigates the role of sustainable accounting practices in enhancing the financial performance of deposit money banks in Nigeria.
Methodology: Utilizing a structured questionnaire, data were collected from 361 respondents, including bank employees and stakeholders. The study utilized the mean and standard deviation technique. The study sampled five deposit money banks namely; Access Bank, Union Bank, First Bank, United Bank for Africa, and Zenith Bank plc.
Findings: The findings indicate a positive perception of sustainable practices, revealing that 74% of respondents believe these practices significantly contribute to bank profitability.
Conclusion: Key factors such as sustainability reporting, stakeholder engagement, and the prioritization of Environmental, Social, and Governance (ESG) criteria are crucial for financial success. The study underscores the importance of adopting sustainable practices in the banking sector, highlighting the alignment with stakeholder expectations and societal needs.
Recommendations: By enhancing sustainability reporting, strengthening stakeholder engagement, and integrating ESG factors into decision-making processes, Nigerian banks can achieve improved financial performance while positively impacting their communities and the environment.
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