What is the role of commercial banks in economy?


One of the roles of commercial banks in the economy is that it influence the foreign currency market through transfer of payments from different locations of countries. Through loans, they also provide capital to businesses which makes the country more productive and the economy more profitable. They also help promote trade and industry through checks, credit cards, bank drafts, and others.
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Role of Commercial Banks in Economy
Banks play an important part in a nation’s economy. Commercial banks are typically the intermediary between individual consumers and a nation’s central bank, which usually regulates the flow of money.... More »
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Banks are vital institutions in any society, for instance, a bank is the main source of consumer loans. Through this, banks contribute to the development of an ...
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