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Commercial Banker; Commercial Loan Officer; Corporate Banker; Credit Officer; Credit Union Teller; Financial Representative; Billings & Collections; Biotech Resumes ; Builder Resumes; Business Operations Resume Templates; Caretaker Resumes; Want to use this resume? Top commercial banks allow individuals to open accounts free of charge. 12+ Banking Cover Letter Templates – Sample, Example Job seeking is one of the most challenging events that every individual must take. Central banks act as the supervisor of commercial banks, and they impose certain regulations to ensure banks operate within the stipulated rules. Bank - Bank - Commercial banks: The essential business of banking involves granting bank deposit credits or issuing IOUs in exchange for deposits (which are claims to base money, such as coins or fiat paper money); banks then use the base money—or that part of it not needed as cash reserves—to purchase other IOUs with the goal of earning a profit on that investment. Generally speaking, these banks are lesser known than retail banks because they are not advertised to the public at large. Since commercial banks essentially monopolize the market, they are able to charge premium prices without seeing excessive erosion in demand. Commercial banks play an important role in an economic society; in many ways, they represent intermediaries that move money through the market. The total numbers of branches of commercial banks are more than 50,000 and the regional rural banks are approximately 8,000 covering 280 districts in the country. There are currently 43 universal and commercial banks, 57 thrift banks, 492 rural banks, 40 credit unions, and 6,267 non-banks with quasi-banking functions in the Philippines. Primary Functions of Commercial Banks. Commercial banks are an important part of a modern economy. Customize this Resume. INSURED U.S.-CHARTERED COMMERCIAL BANKS THAT HAVE CONSOLIDATED ASSETS of $300 MILLION or MORE, RANKED by CONSOLIDATED ASSETS As of September 30, 2020 . Commercial Bank Services. Products and services offered by commercial banks Each commercial bank creates a monthly, quarterly, or annual balance sheet that lists in detail the assets owned. Objectives of Commercial Banks. Public Sector Banks: These are banks where majority stake is held by the Government of India or Reserve Bank of India. But in … Accepting Deposits. People who put their money in commercial banks can garner interest from their deposits and also feel a sense of security. For example, central banks make it mandatory for commercial banks to maintain bank reserves with them.   Investment banks help … In this way, they also help in raising the standard of living of the people in developing countries by providing loans for consumptive activities. 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