What is the purpose of banks?
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A bank is a financial institution which is involved in borrowing and lending money. Banks take customer deposits in return for paying customers an annual interest payment. The bank then uses the majority of these deposits to lend to other customers for a variety of loans. read more
Source: economicshelp.org
From the point of view of a bank, the purpose of banking is to make a profit. Banks are companies just like any other, trying to make money. They make money by taking in deposits and lending them out. read more
Source: enotes.com
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Further Research
Purpose of Banks
www.economicshelp.org
SparkNotes: Banking: Purpose of Banks
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What is a bank?
money.howstuffworks.com
What is the purpose of banking?
www.enotes.com
World Bank: Definition, Purpose, History, Statistics
www.thebalance.com
