This study's findings underscore the crucial need for continued assessment of the financial performances of the quoted Deposit Money Banks (DMBs) in Nigeria. The importance of this assessment is heightened by the factors that endanger the financial situation of the DMBs, which is where the need for continued improvement exists. The study explores the impact of financial risk on the performance of quoted deposit money banks in Nigeria, using nine (9) years of data between 2015 and 2023 retrieved from the published annual reports of thirteen (13) DMBs. The analysis includes descriptive statistics and inferential statistics of correlation and panel regression. The result indicates that CRSK (-0.431133) and LIQSK (0.086019) have a negatively weak correlation and a positively weak correlation with ROA. Also, CRSK (-0.226855) and LIQSK (0.320620) have a negatively weak correlation and a positively weak correlation with EPS. Consequently, BSIZE has ROA (0.052601), EPS (0.166463), CRSK (-0.072838) and LIQSK (0.083215), which means that it has an extremely weak correlation with ROA, CRSK and LIQSK while it has an extremely weak correlation with CRSK. The panel regression model indicates an R Square of .2642, .2133 and .2509, which represents about 26%, 21% and 25% impact of the variables CRSK, LIQSK and BSIZE on ROA for pooled effect model, fixed effect model and random effect model respectively. At the same time, the rest are covered by the error terms, as the other factors have not been considered in this study. This study concluded that credit and liquid risk have largely minimised significant impact on the performance of quoted deposit money banks in Nigeria, with several other factors being defined as the triggers of change in the DMB's performances overtime in Nigeria, which includes but not limited to board diversity, risk management insufficiency incidences of high non-performing loans, poor corporate governance, lax credit administration and failure to meet prudential ratios of liquidity, solvency status and capital ratio which the bank administrator have been able to tackle head-on. It recommended that commercial banks in Nigeria implement effective risk management methods to achieve long-term and improved profitability via interest revenue from loans and advances. Banks need sufficient and precise information from internal and external sources to evaluate the credit risks associated with a loan request.