one of the function of a commercial bank is that it

Assessment: WAEC SSCE - Economics - 1994 (Objective) Subject: Economics

Question 1 Report

one of the function of a commercial bank is that it
Answer Details
Commercial banks play a significant role in the economy by accepting deposits from customers and using them to provide loans to businesses and individuals. This function is known as "intermediation," which means they act as intermediaries between savers and borrowers. The banks also provide a range of other services, such as processing payments, offering credit cards, and providing financial advice. Therefore, one of the functions of a commercial bank is accepting demand and time deposits from customers.
Read lesson note on Banking (JAMB)
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