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BusinessModeAboutCommercialBanks(II)

(2019-03-11 10:39:23)

Functions of Commercial Banks

The main function of commercial banks is to absorb public deposits and provide loans to the public. However, in addition to these functions, these banks also perform many other functions. All these functions can be divided into the following categories:steel and pipe

 BusinessModeAboutCommercialBanks(II)

Deposit Acceptance

The most important function of commercial banks is to absorb public deposits. erw steel pipe The money is deposited in banks at all levels of society according to needs and economic conditions.

 

Granting Loans

The second important function of commercial banks is to provide loans to customers. Banks charge interest to borrowers, which is the main source of their income.

 

Overdraft

If there is no deposit in the current account, the bank will lend to the customer through an excess bill of exchange for a sum not exceeding a certain amount. Therefore, banks require customers to provide guarantees and charge high interest rates.

 

Discount on exchange

This is the most common and important way to provide short-term loans to traders. Under this system, banks lend money to traders and businesses through discount bills. In this way, the merchant can obtain a loan according to the bill of exchange before its maturity.

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