Bank - Page 6

A bank is a financial institution that accepts deposits from the public, provides loans, and offers various financial services. Banks play a crucial role in the economy by facilitating transactions, providing a safe place for individuals and businesses to store their money, and redistributing funds through lending. They earn money primarily through the interest charged on loans and the fees for their services. Banks may also offer investment products, currency exchange, and wealth management services. There are various types of banks, including commercial banks, investment banks, savings banks, and central banks. Each type serves different functions and caters to specific financial needs.