Question

why banks are considered as competitors of financial market​

Answer 1

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If banks compete against each other, they have to provide great services for their customers – otherwise people will switch to another, better, bank. This makes banks more efficient and productive, which is good for the economy.

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Answer 2

Answer:

If banks compete against each other, they have to provide great services for their customers – otherwise people will switch to another, better, bank. This makes banks more efficient and productive, which is good for the economy.With more competition in financial markets, there are more firms making less profits. Thus, there is greater incentive for financial firms to take on greater risk in an effort to increase profits.

Explanation:

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