COMMERCIAL BANK Meaning and
Definition
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A commercial bank is a financial institution that offers a range of services and products to individuals, businesses, and organizations. Its primary function is to accept deposits and provide loans to customers. These banks generate profits by charging interest on loans and fees for various services.
The services provided by commercial banks include opening and maintaining checking and savings accounts, issuing debit and credit cards, facilitating money transfers, providing business loans, mortgages, and personal loans, and assisting with investment and wealth management.
Commercial banks serve as a vital intermediary between depositors and borrowers. They primarily rely on the deposits made by individuals and businesses to fund loans to other customers. By accepting deposits, commercial banks provide a safe place for individuals and businesses to hold their money while also ensuring that these depositors can withdraw or transfer their funds as desired.
Furthermore, commercial banks play a crucial role in supporting economic growth and development. They provide necessary financing to individuals and businesses for various purposes, such as starting or expanding a business, purchasing a home or a vehicle, or funding education or healthcare expenses.
Additionally, commercial banks often provide financial advice and guidance to their customers and can help individuals and businesses with their financial planning needs.
Overall, commercial banks play a significant role in facilitating financial transactions, providing access to credit, and fostering economic growth within a country.
Common Misspellings for COMMERCIAL BANK
- xommercial bank
- vommercial bank
- fommercial bank
- dommercial bank
- cimmercial bank
- ckmmercial bank
- clmmercial bank
- cpmmercial bank
- c0mmercial bank
- c9mmercial bank
- conmercial bank
- cokmercial bank
- cojmercial bank
- comnercial bank
- comkercial bank
- comjercial bank
- commwrcial bank
- commsrcial bank
- commdrcial bank
Etymology of COMMERCIAL BANK
The word "commercial bank" originates from the combination of two terms: "commercial" and "bank".
The term "commercial" comes from the Latin word "commercium", which means "trade" or "commerce". It evolved from the Latin verb "commercari", which means "to trade" or "to deal with". The term "commercial" is used to describe activities related to trade, business, or commerce.
The word "bank" can be traced back to the Italian word "banco", which means "bench" or "counter". In medieval Italy, moneylenders would conduct their business transactions at benches or counters in the marketplaces. Over time, these moneylenders became known as "bankers", and their places of operation were called "banks".
Similar spelling words for COMMERCIAL BANK
- commercial loan,
- commercial message,
- commercial credit,
- commercial bribery,
- commercial art,
- commercially,
- commercialism,
- commercial paper,
- commercial agency,
- commercialization,
- commercialized,
- commercialise,
- commercial treaty,
- commercial artist,
- commercialize,
- commercial law,
- commercialisation,
- commercialised.
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