The study evaluated Impacts of Commercial Banks on the Economic Development of Small and Medium Scale Enterprises(SMEs) in Lagos State. The main objective of the study was to critically examine Impacts of Commercial banks on economic development of SMEs in Lagos state. Other specific objectives were, establish the effect of commercial banks’ credits on Gross Domestic Product(GDP) SMEs contributions in Lagos state, check whether there is relationship between commercial banks’ credits and creation of employment by SMEs in Lagos state, Identify the problems of SMEs in Lagos state amongst others. Both primary and secondary data were utilized in this study. The primary data were obtained from staff of selected SMEs in Lagos state. The secondary data were isolated from Central Bank of Nigeria(CBN) statistical Bulletin of 2013.The data obtained were Commercial banks credits to SMEs in Lagos state and SMEs contribution to GDP in Lagos state between 2005 to 2013.The population of the study was represented by the total number of SMEs in Lagos state. Asample of 100 respondents were randomly drawn from selected SMEs in Lagos state. The adoption of random sampling technique was to allow the respondents equal chance of participating in the study. The actual sample size based on those that collected and returned their questionnaires was 95. A structured questionnaire was designed and used to elicit information from respondents. The use of structured questionnaire was necessitated by the fact that it generates high response rate and it has ability to reduce incidence of bias. The primary data were analyzed using frequency and percentages and chi-square(X2) was used in testing the hypotheses. The secondary data were analyzed using regression analysis and hypothesis was tested using F-statistics. The trend analysis of the data was conducted through charts. The major findings established based on data analysis were that commercial banks’ credits will significantly affect SMEs contribution to GDP in Lagos state, there is significant effect of commercial banks’ credits on number of employees of SMEs operating in Lagos state amongst others. Furthermore, based on established findings, we conclude that Commercial banks’ credits affect SMEs contribution to GDP in Lagos state, Commercial banks’ credits have effect on number of employees of SMEs operating in Lagos state, Commercial banks affect economic development of SMEs in Lagos state and Small and Medium Scale Enterprises(SMEs) contribute to Economic Development in Lagos state.Based on the above conclusions, the following recommendations were offered; Regulatory agencies like CBN and NDIC should ensure that commercial banks relax conditions that SMEs are expected to meet before credit facilities are granted to them, Soundness of banking system should be pursued vigorously by regulatory agencies so as to prevent commercial banks failure or distress which will introduce illiquidity in the system that will impact negatively on SMEs, Basel 11 accord which Nigerian commercial banks are expected to key into by October 2015 for global best practices should be pursued, NDIC should continue with its stress testing initiatives to see the extent to which Nigerian commercial Banks can withstand shocks so that what happened during the 2008 global banks’ crisis will not repeat itself and so on.

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