JAMB - Commerce (2022 - No. 20)
One of the functions of commerical banks that cannot be performed by central banks is
collection of old notes
collection of deposits from the public
issuance of treasury bills
printing of bank notes
Vysvetlenie
Commercial banks are financial institutions which accept deposits and other valuables from the public for safekeeping with the sole aim of making profit. One of the functions of commercial banks is the acceptance of deposit and lending to customer etc.