A bank is a monetary establishment that provides banking services such as accepting deposits and giving loans. There are also monetary establishment that provide certain banking services without meeting the legal definition of a bank that are called non-banks.
The main occupation of a bank include heaving funds by attracting deposits, using money in the inter-bank market, and issuing financial instruments in the money market or a securities market and then offering most of these funds to borrowers including individuals, government or companies।
Other services provided by banks are facilitating international payments, issuing credit cards, provisioning safe locker facilities for valuables, project financing, merchant banking facility, online banking, personal banking, ATM and investment banking.A bank typically makes profits from transaction fees on financial services and the interest charges on its loans.
Today banks require highly qualified, dedicated, and consistent staff because of strong competition from other financial organizations like insurance companies that provide some banking services to the communal.
There are various types of banks including central banks, investment banks, merchant banks, private banks, savings banks, offshore banks, commercial banks, retail banks, and universal banks.
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