Banks Flashcards
1
Q
What is a commercial bank
A
It is bank that offers services to the general public and to companies.
Nedbank, standard bank, first national bank.
2
Q
What is the South African reserve bank
A
It is the main bank in sa. It is responsible for sustaining economic growth in sa, lending money to commercial banks and making banknotes and coins for sa.
3
Q
What services do bank offer
A
Investments, savings, loans
4
Q
What are the roles of a bank
A
Banks keep our money safe
Pays interest to people who put in money
Charges interest to people who borrows money
Contribute to economic growth
Banks brings borrowers and lenders together *intermediaries
