Commercial banks are referred to as departmental stores of banking because they

Assessment: JAMB UTME - Commerce - 1997 Subject: Commerce

Question 1 Report

Commercial banks are referred to as departmental stores of banking because they
Answer Details
Commercial banks are often referred to as departmental stores of banking because they offer a wide range of services to their customers. They provide services such as savings and current accounts, loans, overdraft facilities, credit cards, and foreign exchange services, among others. Just like a departmental store that offers a variety of goods under one roof, commercial banks offer various financial services to their customers in one place. This makes it convenient for customers to access different financial services they need from a single institution.
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