Commercial Banks
Accept deposits from customers and lend money to borrowers
Provide a range of financial services to individuals, businesses, and governments, including checking and savings accounts, loans, credit cards, and investment services.Â
Process transactions such as checks, wire transfers, and electronic payments
Offer credit cards and investment services.
Industrial Banks
Provide financing for industrial and commercial enterprises
Offer loans to small and medium-sized businesses
May offer leasing and asset-based lending services
May provide equipment financing and lines of credit
Development Banks
Provide long-term financing for economic development projects
Fund infrastructure projects, promote industrialization, or support entrepreneurship
Offer lower interest rates and longer repayment periods than commercial banks
May provide technical assistance to projects they finance
Agricultural Banks
Provide financing for agriculture and related activities
Offer loans for land, equipment, supplies, crop and livestock production
May offer insurance products and farm management services
May provide technical assistance to farmers and ranchers
Savings Banks
Specialize in savings and mortgage products
Accept deposits and lend money to borrowers
May offer lower fees and higher interest rates than commercial banks
May offer checking accounts and other banking services
Exchange Banks
Specialize in foreign currency exchange services and international trade financing
Provide services such as money transfers and letters of credit
May offer trade finance and hedging products
May provide advisory and consulting services to businesses engaged in international trade
Central Bank
Regulate and oversee the country's monetary system
Set interest rates and manage the money supply
Provide financial stability to the economy
Act as a lender of last resort to commercial banks in times of financial crisis
Conduct monetary policy to achieve macroeconomic objectives such as price stability, employment, and economic growth.