A commercial bank can be described as an entity that basically deals with loans and deposits from major business organizations and corporations.
Functions of a Commercial Bank
Following are the major functions performed by these banks:
Making payments via media such as telegraphic transfers, internet banking, and EFTPOS.
Providing safe deposit boxes for safeguarding important papers and assets.
Issuing bank cheques and drafts.
Providing brokerage services for financial products like insurances and unit trusts.
Receiving term deposit money.
Treasury and cash management services.
Lending money through installment loans and overdrafts.
Private equity financing and merchant banking services.
Providing balance sheet exposures such as standby and documents of letters of credit, performance bonds, guarantees, and securities.
List of Commercial Banks
Few of the major commercial banks are included in this article. Find relevant information on them:
ABN AMRO Holding
ABN Amro is one among the leading financial services providers of the world. As to the current statistics, the total assets of the company have reached at EUR 999 billion in September 2006.
Agricultural Bank of China
The Agricultural Bank of China was founded in 1949. Since then the bank has been rendering banking and financial services to their customers.
Australia & New Zealand Banking
Australia & New Zealand Banking is a major international banking and financial services group incorporated on 14 July 1977. As to statistics, the bank holds a total asset of $222.62 billion.
Banca Intesa established in the year 1998 is one of the leading Italian banking groups. Since then the bank has been operating through a customer-oriented organizational structure.
Banco Bradesco, founded 1943, is one of the largest banks in Brazil. Since then the bank has been operating with a mission of maximizing shareholders’ value.
Banco Do Brasil
Banco Do Brasil founded in the year 1808 has been playing a major role in retail banking and international banking. The bank operates with a mission of fulfilling its promise of Social-Environmental Responsibility.
Bank of America Corp
Bank of America formed in the year 1998. Since then the bank has been operating with a mission of reaching high standards for their shareholders and customers.
Bank of China
Bank of China was established in 1912. Since then the bank has been rendering high standard financial services in the country.
Bank of Nova Scotia
Bank of Nova Scotia Established in 1832 is one of the leading financial institutions of North America and the most international bank of Canada.
Barclays is one of the leading financial services providers of the world. The bank has been rendering services with a mission of becoming ‘the employer of choice.’
BNP Paribas is one of the leading international financial services providers over the world. The bank has been operating with a mission of developing its activities for the greater benefit of its shareholders, customers and employees.
Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce has been operating with high innovative practices over the world. The mission of the bank is to help their clients, employees, and shareholders.
China Construction Bank
China Construction Bank incorporated in 1954, is a state owned bank. Since then the bank has been operating with a mission of retaining leadership role in key market segments.
Citigroup Inc. was formed when all Citicorp and Travelers Group divisions merged in 1998. Important business of Citigroup is its banking activities.
The Commerzbank was founded in 1870. Since then the bank has been operating with a mission of becoming the best bank.