PREAMBLE Today, banks do much more than accept deposits or make loans. They provide a variety of financial service to meet the diverse requirements of their customers. The link between the customer and the bank is the banker. To serve customers well and fulfill their responsibilities, bankers must have a through working knowledge of banks products, service, policies, and practices. Banks also contribute to the community, the economy, and the welfare of the nation. As businesses that operate for the benefit of their shareholders, banks seek ways to operate efficiently and profitably. To achieve all these goals, banks form business alliances, merge with or acquire other financial institutions, and support technological innovations to deliver and streamline operations. Required: (a) Discuss why banks are special in every society. (b) Discuss two specific financial services provided by banks to meet the need of Small and Medium Enterprise (SME) in Ghana. (c) Discuss three ways in which banks use to make profit. (d) Discuss the examples of two universal banks in Ghana who have form business alliances, merge with or acquire other financial institutions to deliver and streamline operations for the benefits of stakeholders.
PREAMBLE
Today, banks do much more than accept deposits or make loans. They provide a variety of financial service to meet the diverse requirements of their customers. The link between the customer and the bank is the banker. To serve customers well and fulfill their responsibilities, bankers must have a through working knowledge of banks products, service, policies, and practices. Banks also contribute to the community, the economy, and the welfare of the nation. As businesses that operate for the benefit of their shareholders, banks seek ways to operate efficiently and profitably. To achieve all these goals, banks form business alliances, merge with or acquire other financial institutions, and support technological innovations to deliver and streamline operations.
Required:
(a) Discuss why banks are special in every society.
(b) Discuss two specific financial services provided by banks to meet the need of Small and Medium Enterprise (SME) in Ghana.
(c) Discuss three ways in which banks use to make profit.
(d) Discuss the examples of two universal banks in Ghana who have form business alliances, merge with or acquire other financial institutions to deliver and streamline operations for the benefits of stakeholders.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
