What is a 'Bank'? Explain briefly. (2024)

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A bank is a financial institution licensed to receivedeposits and make loans. Banks may also provide financial services, such aswealth management, currency exchange and safe deposit boxes. Thereare two types of banks: commercial/retail banks and investment banks. In mostcountries, banks are regulated by the national government or central bank.

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What is a 'Bank'? Explain briefly. (2024)
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