Abstract:
The purpose of the study was to assess the effect of marketing mix to the performance of financial institutions in Rwanda. The case study of Equity Bank Rwanda Plc Nyarugenge Branch (2021- 2023). The specific objectives of the study were to analyze the effectiveness of marketing mix applied by Equity Bank Rwanda Plc, to examine the financial performance of Equity Bank Rwanda PLC and to assess the contribution of marketing mix on the financial performance of Equity Bank Rwanda Plc. The target population of this study was composed by 140 employees from marketing, finance and business departments of EQUITY BANK RWANDA PLC with sample size of 58. The Field data were collected using questionnaires and interview. For Role of effective marketing on the product of Equity Bank Rwanda Plc, the collected data shows that 18.9% of respondents said that effective marketing mix helps in minimizing the hindrances between the organization and customers, 24.1% of respondents confirmed that effective marketing mix help Equity Bank Rwanda Plc members to know an employment opportunities in their bank, 8.7% of respondents said that effective marketing mix help on creation of standards through competition, 20.7% of respondents confirmed that the effective marketing mix help on making provision of entertainment and relaxation, 20.7% of respondents said that effective marketing mix help to create the awareness between customers of Equity Bank Rwanda Plc and 6.9% of respondents revealed that effective marketing mix increasing faith on their bank. From 2021 up to 2023.The ratio of Return on Assets are 2.70%; 2.78% and 3.48% respectively. This means that, in 2021 for 100 RWF of invested they got 2.70 RWF; in 2022 for 100 RWF of invested they got 2.78RWF and in 2023for 100 RWF invested Equity Bank Rwanda Plc got 3.48 RWF. From 2021 up to 2023 the ratio of Return on Equity are as following: 18.90%; 22.79% and 26.26% respectively. This means that, for the 100 RWF invested in Equity Bank Rwanda, generated 18.9 RWF, in 2022 for the 100 RWF invested in Equity Bank Rwanda, generated 22.79 Rwf and for the 100 RWF invested in Equity Bank Rwanda, generated 26.26 RWF of benefit in 2023. It is also clear that Cash Ratio were; 0.33; 0.55 and 0.79 respectively from 2021-2023. In addition, the ratios of Liquid Assets to Total Deposits are: 1.38; 128 and 1.30 respectively from 2021 to 2023. Results also shows that Interest Coverage Ratio was 2.03; 2.08; 2.36 and 3.65 respectively from 2021-2023.
