Question

introduction to banking

Answer 1

Answer:

Banking is defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to conduct economic activities such as making profit or simply covering operating expenses.

Answer 2

Answer:

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. ... A bank is a financial intermediary for the safeguarding, transferring, exchanging, or lending of money.