what are the roles of commercial banks in nigeria?

1 ANSWERS

1. Guest3034
   

   • processing of payments by way of telegraphic transfer, internet banking, or other means
   
   • issuing bank drafts and bank cheques
   
   • accepting money on term deposit
   
   • lending money by overdraft, installment loan, or other means
   
   • providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures
   
   • safekeeping of documents and other items in safe deposit boxes
   
   • sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a “financial supermarket”
   
   • cash management and treasury services
   
   • merchant banking and private equity financing
   
   • traditionally, large commercial banks also underwrite bonds, and make markets in currency, interest rates, and credit-related securities, but today large commercial banks usually have an investment bank arm that is involved in the mentioned activities.
   
    

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