Characteristics of a Bank

Characteristics of a Bank

Spread the love

 Characteristics of a Bank

Characteristics of a Bank

1. Dealing in Money
Bank is a financial institution which deals with other people’s money i.e.
money given by depositors.

2. Individual/ Company/ Firm

A bank is a person or firm or a company. A banking company means a
company where the business of banking.

3. Acceptance of Deposit

A bank accepts money (deposit) from the depositors in the form of deposits
which are usually repayable on demand or after the expiry of a certain
period. It gives safety to the deposits of its customers. It also acts as a
custodian of deposited funds of its customers.

4. Giving Advances/Investments/loans

A bank lends/invests/advances out money in the form of loans to those who require it for different purposes.

5. Payments and Withdrawals

A bank provides easy payments and withdrawals facility to its customers in
the form of cheques and drafts; It also brings bank money in circulation. This money is in the form of cheques,drafts, etc.

6. Agency or Utility Services
A bank provides various banking facilities to its customers. They include
general utility services and agency services.

7. Profit and Service Orientation
A bank is a profit generating institution having service-oriented approach.

8. Ever increasing or maximizing Functions
Banking is an evolutionary concept. There is continuous expansion and
diversification as regards the functions, services and activities of a bank.

9. Connecting Link
A bank acts as a connecting link between borrowers and lenders of money.
Banks collect money from those who have surplus money and give the same to those who are in need of money.

10. Banking Business or jobs
A bank’s main activity to do business of banking which should not be
subsidiary to any other business.

11. Name characteristics
A bank should always add the word “bank” to its name to enable people to
know that it is a bank and that it is dealing in money or substitutes.

Characteristics of a Bank

Characteristics of a Bank

Characteristics of a Bank
Characteristics of a Bank

Bangladeshi Taka

Bangladeshi Taka 1 Taka Note (One Taka Note),2 Taka Note (Two Taka Note), 5 Taka Note (Five  Taka Note), 10 Taka Note (Ten Taka Note), 20 Taka Note (Twenty Taka Note), 50 Taka Note …

RBS bank image

The Royal Bank of Scotland(RBS)

The Royal Bank of  Scotland(RBS) The Royal Bank of Scotland(RBS) Group plc is a holding company of a global banking and financial services group. The Company operates in the United …

SoftbBank Image

SoftBank Group Corp.

SoftBank Group Corp. SoftBank was established in Tokyo, Japan, on September 3, 1981. In May 2015, SoftBank was ranked in the Forbes Global 2000 list as the 62nd largest public …

ing image

The ING Group

The ING Group The ING Group (Dutch: ING Groep) is a Dutch multinational banking and financial services corporation Its headquarter is in Amsterdam. Its primary businesses are retail banking, direct …

UBS bank image


UBS AG UBS AG is a Swiss global financial services company. Its headquarter is in Basel and Zürich, Switzerland. It provides investment banking, asset management, and wealth management services for …

Mizuho Financial Group image

Mizuho Financial Group

Mizuho Financial Group Mizuho Financial Group, Inc. abbreviated as MHFG, or simply called Mizuho is a banking holding company. It,s headquarter is in the Ōtemachi district of Chiyoda, Tokyo, Japan. …

Societe Generale S.A. (SocGen) image

Societe Generale

Societe Generale Societe Generale S.A. (SocGen) is a French multinational banking and financial services company. Its headquarter is in Paris. The company is a universal bank split into three main …

Satander Bank Image

Banco Santander

Banco Santander   Banco Santander is the sister concern of The Santander Group . Which is a Spanish banking group centered on Banco Santander, S.A. It is the largest bank …

UniCredit Bank Image

UniCredit Bank

UniCredit Bank   UniCredit work as the company has its registered office in Rome and general management in Milan.UniCredit’s core markets are Italy, Austria, Russia and Southern Germany. It also …