Bank denotes any type of depository institution, usually (but not necessarily) a for-profit corporation, that accepts deposits, makes loans, pays checks, and performs related services, for individual members of the public, businesses or other organizations.
It is usually a regulated financial institution which operated under a Banking License. The range of activities such diverse ones as commercial, retail,and investment banking.
Banks can be categorized in a number of ways:
Sponsoring Legal Entity
Nature of Clients
- Banking Business Models
- Barron's Dictionary of Banking Terms, Sixth Edition, 2012
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