Al-Hikmah University Journal

This study investigated the financial soundness of Nigerian Deposit Money Banks (DMBs) over ten years (2011-2020), using the bankometer model and compared the financial health of banks categorised as systemically important (DSIBs) with others considered nonsystemically important (D-NSIB)using the bankometer model, the financial standing of banks classified as nonsystemically important (DNSIBs) and those classified as systemically important (DSIBs)were compared. The study used secondary data from the websites of purposively selected six (6) DSIBs and six (6) D-NSIBs, listed on the Nigeria Exchange Group on 13 May 2021. The performance indicator is measured by each bank’s soundness was indicated by its bankometer solvency score (S-score while the six bankometer parameters, namely- Capital to assets ratio, Equity to assets ratio, Capital adequacy ratio, non-performing loans ratio, cost-to-income ratio and loans to assets ratio, were employed as explanatory variables. The study found both categories of banks in Nigeria financially healthy in the category of ‘Super Sound’, during the study period and an independent sample t-test conducted showed no significant difference (p = 0.075; > 0.05) between the financial health of the two groups. Therefore, the study suggested that Nigerian regulators' oversight efforts be balanced between the two groups and that they refrain from overly enhancing one group's supervision at the expense of anot her.