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Modern Banking

What Are Banks And What Do They Do?/Introduction

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Introduction

The term ‘‘banking’’ can be applied to a large range of financial institutions, from savings and loans organisations to the large money-centre commercial banks in the USA, or from the smallest mutually owned building society to the ‘‘big four’’ shareholder owned banks in the UK. Many European countries have large regional /cooperative banks in addition to three to five universal banks. In Japan, the bank with the largest retail network is Sumitomo Mitsui Banking Corporation, but its main rival for savings deposits is the Post Office.

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