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The major source of income to commercial banks is?

Commerce
JAMB 2011

The major source of income to commercial banks is?

  • A. tourism
  • B. banking
  • C. communication
  • D. transportation
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Correct Answer: Option B
Explanation

Banking has to do with engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. it consist of transacting business with a bank; depositing or withdrawing funds or requesting a loan etc. in another aspect, it is the legal right of a bank to seize deposited funds to cover a loan that is in default.


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