Commercial Bank
Definition
- A financial institution that provides a wide range of services to its customers. Such services can include chequing and savings accounts, business loans, and credit cards.
Synonyms
service provider, corporate bank
Acronyms
CB
Related Terms and Acronyms
- Bank — Definition,
- An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
- Commercial Banking — Definition,
- Commercial banking centres serve small to medium-sized businesses such as franchising, leasing and cash management services.
- Commercial Banking Centre (CBC) — Acronym,
- Correspondent Bank — Definition,
- A bank that holds deposits of another bank, usually a smaller bank, and in turn provides certain banking services that may not be readily available to the smaller bank.
- Independent Bank — Definition,
- A locally owned bank that is operated without being affiliated with a bank holding company. Also known as a community bank.
- Joint-Venture Commercial Bank (JVCB) — Acronym,
- Niche Banks — Definition,
- Smaller banks that cater to particular communities or certain industries. These banks have been thriving in the fallout from mega-bank mergers.
- Retail Banking — Definition,
- Banking services offered to individual customers such as savings accounts, personal loans, cheque cashing, and RRSPs.
- Schedule I Banks — Definition,
- A designation in the Bank Act that refers to Canadian-owned banks that are widely held, i.e., ones in which no one owner holds more than 10% of shares.
- Schedule II Banks — Definition,
- A designation in the Bank Act that refers to foreign-owned banks and closely held Canadian banks, i.e., banks in which an owner may hold more than 10% of outstanding stock.
- Schedule III Banks — Definition,
- Foreign banks not incorporated under the bank act that are allowed to conduct business in Canada.
