of Commercial Banks Luqmaan Zainulabdeen3487 CONTENTS Definition and nature of a commercial bank Primary functions Secondary functions The explanation of those functions Conclusion Definition of a Commercial Bank A commercial bank is basically a financial institution that provides services such as‚ accepting deposits‚ granting loans and so much more services. There are two functions in a commercial bank. A primary function and a secondary function. Nature of a Commercial Bank One main task
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BANK RECONCILIATION STATEMENT Introduction You have now learnt how to balance the cashbook and to find the balance of the bank account. In this chapter we look at the way in which a business deals with any differences between the balance of the bank account in the cashbook and the closing balance of the bank account shown by the bank statement for the same period. These differences are explained by a document known as bank reconciliation statement. The bank reconciliation statement lists
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Premier Bank Corporate Information Background The Premier Bank Limited is incorporated in Bangladesh as banking company on June 10‚ 1999 under Companies Act.1994. Bangladesh Bank‚ the central bank of Bangladesh‚ issued banking license on June 17‚ 1999 under Banking Companies Act.1991. The Head Office of The Premier Bank Limited is located at Banani‚ one of the fast growing commercial and business areas of Dhaka city. Corporate Information: Authorized Capital : BDT 6000.00 Million Paid up
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What is Bank:- A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities‚ either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it
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IRREVOCABLE BANK GUARANTEE THIS IRREVOCABLE BANK GUARANTEE is made and executed on this ___ day ______. BY: _______________________ Bank Limited‚ a Banking Company incorporated in Pakistan and having its head office at _______________________ (city name) and Branch at Stock Exchange Building‚ Stock Exchange Road‚‚ Karachi (herein after referred to as the “Bank”‚ which expression shall‚ wherever the context so requires‚ means and include its successors-in-interest and permitted assigns) IN FAVOUR
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Bank Reconciliation Statements (With answers) A. Purpose of a bank reconciliation It should be prepared regularly as part of the internal control system of the business to check: a) the accuracy of the cash book b) the accuracy of the bank statement c) that undue delay is not occurring between payments‚ receipts and their clearance by the bank d) to discover payments made and items received by the bank not entered in the cash book B. Reasons for differences in bank statement and cash
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ASSIGNMENT 3 WELLFLEET BANK SEMESTER 2 SESSION 2013/2014 SUBMITTED TO: PROF. MADYA MOHAMMED NASSER B. KATIB PREPARED BY: NO. NAME MATRIK NO. 1. TAN YEN THING 211366 2. LAU KOK WAI 212569 3. CHAN DE LONG 213186 GROUP A SUBMITTED DATE: 25 MAY 2014 Question 1: Given its strategy‚ what kind of risks does Wellfleet Bank face? In generally‚ Wellfleet Bank faces some kinds or a variety of risk in its daily operations. Therefore‚ risk faced by Wellfleet Bank in this case study
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contract between customers and their banks and building societies that these firms will keep their customers’ information confidential. This confidentiality is not just confined to account transactions – it extends to all the information that the bank has about the customer. But from time to time‚ banks end up releasing information that they should have kept secret about their customers to a third party which sometimes ends up in major consequences for the banks and their customers. Bank’s duty
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Introduction: Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust‚ accountability‚ participation and creativity. Grameen Bank provides credit to the poorest of the poor in rural Bangladesh‚ without any collateral. At Grameen Bank‚ credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside
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Commercial Banks Commercial Banks grant mainly short-term loans.In the beginning‚commercial Banks extended loans to traders and merchants for the transport of their goods in both domestic an international trade as well as to finance the holding of an inventories during the brief period required for their sales. To day‚commercial banks are the biggest lenders in commercial and industrial loans. They supply loan funds to business firms as well as to consumers ‚ government agencies‚ universities
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