Despite the fact that banks are privately owned and profit-oriented businesses, public authorities have long acknowledged the significance of banking.
How do banks generate revenue?
- The spread, or the difference between the interest rates they pay on deposits and the interest rates they get on loans they make, is how they generate revenue.
- On the securities they own, they receive interest.
- For consumer services including checking accounts, financial planning, loan servicing, and the sale of other financial goods, they are compensated (e.g., insurance and mutual funds).
- borrowing funds from other banks or from customers who deposit money at the bank.
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