Commercial Banks
Offer a wide range of banking services to individuals, businesses, and governments
Provide deposit accounts, loans, credit cards, and investment services
Have a large network of branches and ATMs
Generally, have higher fees and interest rates than other types of banks
Industrial Banks
Specialize in providing financing for industrial and commercial enterprises
May provide loans to small and medium-sized businesses
May offer longer loan terms than commercial banks
Development Banks
Specialize in providing long-term financing for economic development projects
Focus on funding infrastructure projects, promoting industrialization, or supporting entrepreneurship
Offer lower interest rates and longer repayment periods than commercial banks
Agricultural Banks
Provide financing for agriculture and related activities
Offer loans for purchasing land, equipment, and supplies, as well as for crop and livestock production
May offer flexible repayment terms and lower interest rates than commercial banks
Savings Banks
Specialize in providing savings and mortgage products
Focus on serving local communities
May offer lower fees and higher interest rates than commercial banks
Exchange Banks
Specialize in providing foreign currency exchange services and international trade financing
May offer services such as money transfers and letters of credit
May have a limited range of other banking services
Central Bank
The main regulatory authority for a country's monetary system
Manages the money supply, sets interest rates, and provides financial stability to the economy
Acts as a lender of last resort to commercial banks in times of financial crisis
Provides oversight and supervision of the banking industry