How Do Banks Differ From Other Financial Institutions
In this video, Thomas Brock explains that commercial banks earn money by taking deposits, providing payment services, and offering various loans like mortgages, auto loans, student loans, and credit cards.
Video Transcript
A commercial bank makes its money by taking in deposits from its customers and offering them payment and transfer services. It also offers its customers a variety of loan products including mortgages, auto loans, student loans, and credit cards.
