You must complete Handling and Distribution of Chemicals to unlock this Lesson.
Please subscribe for the subject to access this lesson.

COMMERCIAL BANKS

CONTENT

  1. Definition of Banks and Commercial Banks
  2. Functions of Commercial Banks
  3. Ethical Issues in Banking

 

Definition of Banks

Banks are public limited liability companies that are in the business of providing financial services to customers and businesses.

They receive, transfer, pay, exchange, lend, invest and safeguard money and other valuables for people or companies.

 

Meaning of Commercial Bank

A commercial bank is a financial institution that renders financial activities/services to customers to make profit. It performs a number of functions which are listed below:

 

Functions of Commercial Banks/Services Provided by Commercial Banks

  1. Accepting deposits from depositors/customers
  2. Keeping money and valuables in safety for customers
  3. Assisting customers with loan and overdraft to start or expand their business
  4. Giving financial/investment advice to customers
  5. Trading in foreign currency and giving traveler’s cheque to customers travelling abroad.
  6. Assisting customers to transfer money from one country to another
  7. Acting as a trustee or guarantor on behalf of their customers.

Please subscribe for the subject to access this lesson.
Lesson tags: Business Studies Lesson Notes, Business Studies Objective Questions, JSS2 Business Studies, JSS2 Business Studies Evaluation Questions, JSS2 Business Studies Evaluation Questions First Term, JSS2 Business Studies First Term, JSS2 Business Studies Objective Questions, JSS2 Business Studies Objective Questions First Term
Back to: Business Studies – JSS2 (Upper Basic 8) > First Term
© [2020] Spidaworks Digital - All rights reserved.

We are resetting the game!

ClassHall is built on game design principles, and the top performers are the MVPs!

By 11:59 pm Dec. 31st, 2019, we will reset all user performance data, including points and ranks to enable newcomers compete favourably for the limelight!

Prizes will be given to the top 5 MVPs of the Hall of Fame, at the end of the 2019/2020 academic session.

Earn a referral fee per user for recommending us to your students, colleagues and school admins.

Heard of our TRC?

We believe teachers should earn their full reward on earth!

Congratulations to the TOP 5!

Sophia Awhata

Final Points

2709

Rank

Senior Prefect

Seun Adeniyi

Final Points

2395

Rank

Prefect

Mary Adebayo

Final Points

1669

Rank

Prefect

Aderonke Babalola

Final Points

975

Rank

Student

Olufunke Fasipe

Final Points

932

Rank

Student

Classhall live video classes

LIVE VIDEO CLASSES!

You can now join the live classes from the SUBJECT PAGE on the Smartclass.

error: Alert: Content is protected !!