Are Banks A Business?

[Shavkat]

I think so because they have some schemes that offer the local people to borrow money and pay them back with an interest. It cannot be denied that this is how they make business.

 

[cherry123]

That's the truth , Some of their charges can be extremely annoying. in fact it annoys the heck out of me.they just want to make huge amount more like making money. from all transactions

 

[Reedex]

Bank is a big business and it is a profit oriented organisation.

 

[cherry123]

Banks are out to make money so it is a big business venture that also looks for ways to make money and it is a profit oriented organisation as such it generates profit

 

[Springtime]

I would consider a bank as a business. Just like other businesses, their main goal is to make money for their shareholders. They make a profit by charging higher interest on the loans they lend to borrowers than they pay to people who deposit money with them.

 

[uptrendfinancialsignal]

The answer to the question is emphatic yes because bank is a big business.

 

[Niyi Briggs]

Banks are businesses that prioritise profits over anything. Do you know the charges for ATM maintenance alone is enough for the bank to be profitable. Not to talk of small charges from other transactions like visa application and Al others.

 

[astutimeliana723]

Can we call banks as banking companies too as they also need to follow all the employee welfare programs?

Yes, banks can be said to be a business, but not just anyone can open a bank business, everything is regulated by government regulations, in my country it is called the Financial Services Authority.

 

[Niyi Briggs]

Yes, banks can be said to be a business, but not just anyone can open a bank business, everything is regulated by government regulations, in my country it is called the Financial Services Authority.

Banks in my country are mostly limited liability companies with board of directors. It is also regulated. You need to get operational license from the government owned central bank. I think you need a capital base of 20 billion to start a bank in my country.

 

[astutimeliana723]

Banks in my country are mostly limited liability companies with board of directors. It is also regulated. You need to get operational license from the government owned central bank. I think you need a capital base of 20 billion to start a bank in my country.

Yes, you are right, the banking business is not an easy business, besides requiring a very large capital, it also needs to follow very strict Financial Services Authority regulations. I don't think I'm interested in this kind of business.

 

[jetsaints30]

They lend money and earn interest, charge fees for services and invest in various things to make a profit. Its like any other business just with a lot more regulations and scrutiny.

 

[Niyi Briggs]

Yes, you are right, the banking business is not an easy business, besides requiring a very large capital, it also needs to follow very strict Financial Services Authority regulations. I don't think I'm interested in this kind of business.

It is a business I would advise you to consider trying in future. If you have a pool of 50 people that can raise the initial capital, you are good to go. Define your contracts, apply for license and turn it into a limited liability. It is profitable.

 

[astutimeliana723]

It is a business I would advise you to consider trying in future. If you have a pool of 50 people that can raise the initial capital, you are good to go. Define your contracts, apply for license and turn it into a limited liability. It is profitable.

There are already many banks in our country, both government and private banks. Apart from that, there are also many digital wallets, so I didn't even think about starting a banking business. I don't know maybe one day, maybe change my mind.

 

[Hate2Wait]

Yes, banks can be said to be a business, but not just anyone can open a bank business, everything is regulated by government regulations, in my country it is called the Financial Services Authority.

The reason why we see many private players entering in this set up is only because its a business and they have long term plans to make money from money and invest money in securities to earn more

 

[Bisolami]

It is a business because they are making money from their customers who keep money in their banks.

Can we call banks as banking companies too as they also need to follow all the employee welfare programs?

 

[Hate2Wait]

They are making very good money by using our money for different risky and risk free securities and is surely a business

 

[Magnus2022]

What do you mean? They do sell property to recover the loan amount

See! Banks don't play or joke once their money is overdue in your hand. They can see your property as fast as possible once there are available buyer. They are more cruel than the devil.

 

[Hate2Wait]

See! Banks don't play or joke once their money is overdue in your hand. They can see your property as fast as possible once there are available buyer. They are more cruel than the devil.

They are and if they don't work like that then you will see banks go down even more quickly so yes they are a business and are business minded people with no kindness for deafulters

 

[SHAHID987]

In my view banks itself are not business but they facilitate people to do business for this purpose they give loan to needy people to start their business and to earn some money.

 

[Hate2Wait]

In my view banks itself are not business but they facilitate people to do business for this purpose they give loan to needy people to start their business and to earn some money.

They are earning a very high interest when they allow bank loan and gives very low interest on savings so they are earning big