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Functions Of Banks (Financial Services (Banking, Capital Markets,…
Functions Of Banks
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Borrowing Money
The money which is deposited, the bank lends money by giving loans to other customers and companies.
With the difference between the 2 rates, the bank makes a profit
Therefore banks play a key role in the economy as these loans and business investments affect economic growth.
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Agency Functions
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Acting as the agent of the customer the bank may transfer funds, the collection of cheques and etc.
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