Quick Answer: What Is Another Name For Commercial Bank?

Which bank is best in Ethiopia?

Top Banks in EthiopiaThe top banks in Ethiopia include:Dashen Bank.

Dashen Bank was established in 1995 under the NBE’s National Licensing and Supervision of Banking Business Proclamation 84/1994 and the Commercial Code of Ethiopia 1960.

Cooperative Bank of Oromia.

Bank of Abyssinia.

United Bank.

Awash Bank.

Zemen Bank.

Wegagen Bank.More items….

What is another word for vault?

In this page you can discover 69 synonyms, antonyms, idiomatic expressions, and related words for vault, like: tomb, time vault, leap over, crypt, grave, sepulcher, ossuary, catacomb, pit, tumulus and mound.

What is another name for state banks?

In the United States the term “state chartered bank” or “state chartered savings bank” is used in contradistinction to “national bank” or “federal savings bank”, which are technically chartered across all US states.

What are the five functions of commercial bank?

Top 5 Functions Performed by Commercial Banks– Discussed!(a) Accepting Deposits:(b) Advancing Loans:(c) Discounting Bills of Exchange or Hundies:(d) Transfer of Money:(e) Miscellaneous Functions:

When did commercial banks start?

1924The Commercial Bank was founded in 1924 by local businessmen in Oglethorpe County with the mission of serving the financial needs of the citizens and businesses of the area.

What is the opposite of a bank?

Antonyms of BANK item, withdraw, spend, entity, level, take out, straighten, disburse, unit, single, even.

Who is the owner of commercial bank?

KCB GroupTypePublicIndustryBankingFounded1896HeadquartersKencom House, Moi Avenue Nairobi, KenyaKey peopleAndrew Wambari Kairu Chairman Joshua Oigara Chief Executive Officer7 more rows

What is role of commercial bank?

Role. The general role of commercial banks is to provide financial services to the general public and business, ensuring economic and social stability and sustainable growth of the economy. In this respect, credit creation is the most significant function of commercial banks.

Who owns Bank of Africa Kenya?

OwnershipRankName of OwnerPercentage Ownership1Bank of Africa – Benin*31.342Netherlands Development Finance Company (FMO)20.003AFH-Ocean Indien SA*14.014Bank of Africa Madagascar*11.654 more rows

What are the examples of commercial bank?

Examples of Commercial BanksState Bank of India (SBI)Housing Development Finance Corporation (HDFC) Bank.Industrial Credit and Investment Corporation of India (ICICI) Bank.Dena Bank.Corporation Bank.

Why do we need commercial banks?

Commercial banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner. … These financial services help to make the overall economy more efficient.

What are the aims and objectives of commercial bank?

ADVERTISEMENTS: The three main and traditional functions of commercial banks are to accept deposits, to lend and to enable customers to make payments. The first function enables customers to keep their money in a safe place. Deposits can be made into two types of bank accounts.

What are commercial banks also called?

As a result of credit creation, money supply in the economy becomes higher. It is because of this credit creation power of commercial banks (or banking system) that they are called factories of credit or manufacturer of money.

What is the other name of bank?

What is another word for bank?lendermortgageefinance companyfinance housefinancial institutionsavings bankbuilding societyclearing bankhigh-street bankmerchant bank8 more rows

What is the structure of commercial bank?

Commercial banks comprise: (1) Schedule Commercial Banks (SCBs) and non-scheduled commercial banks. SCBs are further classified into private, public, foreign banks and Regional Rural Banks (RRBs); and (2) Co-operative banks which include urban and rural Co-operative banks.

What are the three functions of commercial bank?

The three fundamental functions of commercial banking are, then, discount, deposits, and note issue; discount (and loan) is, in practice, but one method of creating deposits and note issue; and the three functions readily reduce themselves to one, namely, the guaranty of the credit of individuals.

Is RRB Nationalised bank?

Thus, we can say that RRBs are smaller banks that work only in few of the districts, providing loans to agriculture and priority sector. They lack professionalism of nationalised banks and get their top management from the sponsor bank (nationalised banks).

What are the two meanings of bank?

bank noun [C] (MONEY) an organization where people and businesses can invest or borrow money, change it to foreign money, etc., or a building where these services are offered: … I need to go to the bank at lunchtime.