Roles/functions of commercial banks
- Role of Commercial Baking in Promoting Savings among People by allowing access to credit to those with savings and offering interest to savings
- They aid in the successful implementation of monetary polices.
- They boost the industrial sector by offering short, medium, and long-term finance.
- They accelerate trade by offering agency services, overdraft facilities, and other solutions to wholesale and retail businesses.
- They adopt innovative ways to facilitate easy banking—automation, digitalization, and artificial intelligence.
- They ensure a superior level of data security for their clients
- They carry out investment activities and projects. They invest their capital e.g. in form of shares, debentures.
- They offer employment opportunities in the country.
- They help in expanding the productive capacity of a country through loans
- The provide taxes to the country.
- They facilitate development of infrastructures such as roads, schools and hospitals
- Strengthen international relations especially banks by foreign investors.
CATEGORIES Economics
TAGS Dr. Bbosa Science
