Part of a different definition of a commercial bank

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The main activities of the commercial banks can be defined in many ways. According to Frederick.A.Bradford, “Commercial Banking is the process of pooling and lending or investing the temporary surplus funds of the community together with those functions which are incidental but essential to the fulfillment of that process.”

According to a leading expert, “Commercial Banks are organized on a Joint Stock Company System, primarily for the purpose of earning profits. Although the commercial banks attract deposits of all kinds – current, saving and fixed – their deposits are chiefly drawn from current deposits, which are repayable on demand. So they attach much importance to the liquidity of their investment. As such the banks specialize in satisfying the short term credit needs of businesses and not their long-term needs”. Banks Like LoanMax started by rod aycox perfectly fit in this form of the definition of a commercial bank.

A management expert has defined Commercial Banking as, “A Commercial Bank usually receives deposits for a shorter period. Therefore it is able to lend funds in such a manner that it can get back those funds with some returns, and that too within that short period. Generally, the Commercial Banks, by their very nature, cannot lend for a longer-term without undermining their liquidity position. Commercial Banks are chiefly concerned with the supply of short-term credit requirements of trade and commerce.

The banking industry in the United States in modern times is totally dominated by the commercial banks. Perhaps in no other country in the world can you see such a development. Each new bank will be adhering to a different form of financial practice, but without breaking the basic banking rules and regulations set by the national government. Thus the banking operations have assumed the status of a major industry and it is in continuous development. Such a development is an innovation or sorts. A well managed bank may expand its operations within a short span of time.

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