Are Banks A Business?
- Thread starter Hate2Wait
- Start date
Banks are more business than the word business itself. They don't joke with their business. That's why they won't waste time to sell off your property of you default a loan.
The essence of dropping a property as collateral is to help them use it and recover their money if you default.
I think, yes they are business. Most of the time I see banks advertise their credit cards, car loan, house loan promos. And in return they earn money from the interest.
Banks are purely businesses institutions. They do business with the money you deposit with them in the form of loans and make profits as interest.
Yes, banks are a business. Banks provide financial services and generate revenue by charging fees and interest on the services they provide, Banks make a profit by lending money at a higher interest rate than they pay on deposits, investing in securities, and providing various financial products and services.
I agree with you. Banks are more than a business and they never joke. This is the main reason I never get a loan from the bank.
They are only nice when you are given the loan. When you default, you wouid be wondering if it is the same people were smiling with you.
It is so sad but this is true. They always want their money back and they are serious about it.
I believe that the banking institution is a private business sector which is set up under the principles of Central Bank to operate with a financial code in helping people to save their money and also making profit in the process.
Banking in other countries are public sector businesses. In my country though, it is a private sectors venture that have profit maximization as their major aim. They are run by serious businessmen who are profit oriented.
- Thread starter
- #19
Yes these are the basic principles and because of this large number of depositors are moving towards private banks because of better services
Some of those charges can be plain annoying. Someone would send money to your account and you would see a different amount in your balance. That's how they make money. From every transaction.
