Commercial banks earn money through different businesses, which are detailed below: 1) Interest on Loans: Commercial banks lend money to industrialists, traders, or consumers, and charge interest on the loans. This is the main source of their income. 2) Investment: Commercial banks earn profit by investing in profitable sectors like shares, issuing letters of credit, … Read more
A finance department plays a crucial role in the success of any organization, regardless of its size or industry. From tracking expenses and managing cash flow to preparing financial reports and forecasting future performance, the finance department provides essential insights and guidance that help businesses make informed decisions and achieve their financial goals. Here’s a … Read more
The finance industry encompasses a diverse array of companies that provide a wide spectrum of financial services to individuals, businesses, and governments. These services range from traditional banking and investment management to insurance, wealth management, and fintech. Major Categories of Finance Companies To better understand the breadth of the finance industry, it’s helpful to categorize … Read more
Expenditures of Commercial Banks Commercial banks make following expenditures in operating its business: 1) Giving interest to the clients on their deposits. 2) Giving interest to the central bank on the borrowed amount 3) Giving interest to commercial banks for the received loans. 4) Payment of salaries and allowances to the employees 5) Allowances of … Read more
What kind of credit inquiry has no effect on your credit score? A soft inquiry, also known as a soft pull, is a type of credit check that does not affect your credit score. Soft inquiries occur when someone checks your credit report for reasons other than lending you money, such as: When you check … Read more
Prospect of Modern Electronic Banking System and Bangladesh Electronic banking system is now providing valuable banking facilities including money transfer, delivery of remittance and 24 hour banking services to remote areas of the country. To provide these services, initially a large investment is required by the bank. However, grater number of people can be provided … Read more
A Client can close his / her bank account in various ways, which are discussed below: 1) Client’s request letter to close the account (request letter approved by the company meeting in case of a company account) 2) Unused cheque book, pass-book, debit/credit card must be returned. If there is no unpaid loan from the … Read more
Development of computer and electronic products paved the way for innovative electronic products in banking business. Bangladesh has also progressed in electronic products in banking business. Bangladesh has also progressed in electronic banking facility is available for 24 hours. We shall now be familiar with various electronic banking products: 1) Debit Card and Credit Card … Read more