8 Facts about Banks
Facts about Banks talk about the money creator and financial intermediary. This institution lends the money to the borrowers to create money. The lending process can be performed directly and indirectly. If the bank chooses the indirect way, it will lend the money to the capital market. The regulation applies to all banks in the world for it has a significant role in the national economy. Here are some interesting facts about banks:
Facts about Banks 1: the banking dynasties
Some of the banking dynasties which play an important part in the history of banking include the Medicis, the Rothschilds, the Berenbergs and the Welsers. Monte dei Paschi di Siena is considered as the oldest existing retail bank. Berenberg Bank is called as the oldest existing merchant bank.
Facts about Banks 2: the activities of bank
Based on the activities, bank is divided into several types such as retail banking, corporate banking, business banking, investment banking and private banking. The small business and individuals are handled in retail banking. If you want to get involved with the activities related to the financial market, you have to check the investment banking.
Facts about Banks 3: the owners of the banks
The profit making private enterprises are the most common owners of banks. But there are some banks owned by the nonprofit organizations or even government.
Facts about Banks 4: the commercial banks
The term commercial bank is applied to the normal bank. It involves with only banking activities. The US Congress limited the activities of the common banks and investment banks after the Great Depression. The investment banks only involve with capital market activities. Get facts about Bank of America here.
Facts about Banks 5: Land development banks
If you want to get the Long Term Loan, you can go to Land Development banks. People often call it LDB. In 1920, the first LDB was established at Jhang in Punjab. The main function was to increase the development of agriculture and land. Get facts about agriculture here.
Facts about Banks 6: the national postal system
Another type of bank deals with the national postal system. It is called as postal saving banks.
Facts about Banks 7: Ethical banks
The banks which provide high quality of transparency are the ethical bank. If you like to know the bank without any physical branches, you can access the direct or internet only bank.
Facts about Banks 8: channels
You can use the services of banks in different channels. You can access it via call center, Automated Teller Machines, the branches of bank, online banking, mobile banking, mail, or even telephone banking.
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