Essential Concepts About Commercial Banks And The...

In current intensely competitive economic market, banking plays an extremely significant role because it not only enhances economic development, but also provides valuable services to the whole country (Cv, 2015). Banks accept deposits from savers and lend these deposits to those who need them by generating financial products such as mortgages and loans. Based on Boatright’s perspective, even though banks are different in size and nature owing to both historical and geographical factors, they can be broadly defined as financial institutions that perform as a bridge connecting savers and borrowers throughout providing valuable financial products and services (Boatright, 2010). The object of this paper is to briefly explain some essential concepts about commercial banks and the corresponding ethical issues derived from these concepts. There are various types of banks depending on the area they specialize in, including central banks, commercial banks, investing banks, and retail banks and so on (Boatright, 2010). This paper focuses on commercial banks, which deal with a variety of business activities and maintain the core of being financial intermediation (Boatright, 2010). As a financial intermediation, banks generate profits for all savers, borrowers and themselves by applying interest rate on both deposits and loans. To have enough money for lending, banks pay savers interest to encourage them to deposit money into their account. Correspondingly, they alsoShow MoreRelatedAccounting Information System3639 Words   |  15 Pagesexpansion of business, Rebecca found some issues with management and control. She change the management model to solve the current predicament, however, it cannot treat inherent issues. At the same tome, competition is a common finding in business. 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