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COMMERCIAL BANKS AND ITS IMPORTANCE TO ECONOMIC DEVELOPMENT — Economics Keypoint

COMMERCIAL BANKS AND ITS IMPORTANCE TO ECONOMIC DEVELOPMENT

The commercial banks also plays prominent role in the development of the economy of a country through the following ways:

  1. Stimulating savings and investments thereby removing capital deficiency.
  2. Making provision for availability of credit facilities for financial priority sectors.
  3. Making provision for optimum utilization of the financial resources of the community.
  4. Encouraging expansion of credit.
  5. Promotion of international trade.

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