Types of banks 2022
Banks and banks in the business environment are divided into several types, and each type is distinguished by its own method of work. The following is information about the most important types of banks and banks:
Central banks: are financial institutions that seek to support the economic environment and the monetary system in a particular country and in another form called state economic institutions; Therefore, these banks are owned by their own countries, and the central bank is called the Bank of Banks; Therefore, the central bank is at the forefront of the banking system in countries.
Commercial banks: are the banks that are interested in maintaining all financial deposits and withdrawn using checks or cash withdrawals; Where it contributed to providing financial financing for short-term loans; That is, those whose repayment period is equivalent to one year, but at the present time, the Commercial Bank offers various and varied loans that are used in their repayment periods, exceeding one year and classified under medium and long-term loans.
Specialized banks: They are the banks that contribute to financing and supporting projects and various economic processes within countries, whether they are commercial, agricultural, or industrial, based on the specialization of each bank. These banks are divided into several types, including:
Industrial banks: They are banks specialized in financing industrial activities. They provide a range of credit loans based on certain guarantees or mortgages. They are also interested in providing financing for all industrial operations; By purchasing products and raw materials that support the activities of the industry and its continuity.
Agricultural banks: They are financial institutions specialized in financing agricultural activities. To obtain the largest amount of agricultural products resulting from the cultivated lands; They are valuable institutions in countries.
Real estate banks: They are banks that seek to provide the necessary loans; In order to support the purchase of various real estate, such as: buildings and land, these banks often provide long-term loans, as well as managing projects, and providing appropriate advice for various real estate activities.