Human capital is the only active resource in any going concern with the ability to mobilise other
resources to achieve organisational objectives. To achieve this, management often invests in
organising and developing human capital. However, studies have not identified critical internal determinants of human capital development in the Nigerian banking sector. To fill this gap, the study examines the financial perspective to the determinants of human capital development in selected Nigerian deposit money banks (DMB). The study adopted a panel data analysis methodology. The data for the study was purely secondary obtained from audited financial reports of eight DMBs in Nigeria for a period that spanned from 2001 - 2023. For the analysis panel, data method was used. The result of the study shows that total asset, profit after tax, labour and interest rate are significant determinants of human capital development of the selected DMBs in Nigeria. This finding underscores the importance of staffing levels in enhancing human capital and this indicated that as the number of employees increases, so does the potential for human capital development. It was concluded that bank asset, profit after tax, labour and interest rate determine human capital development of DMBs. Based on the findings and conclusion, it was recommended that bank management and their boards should continuously strengthen their banks’ asset, labour and size.