InvestorQ : what is corporative bank?
tusi samanta made post

what is corporative bank?

1 year ago
It is a retail and commercial bank organized on a cooperative basis. Now, cooperative here means, where people are ready to make adjustments to come to an agreement. These banking institutions take deposits and lend money in most parts of the world. Therefore, it also includes retail banking carried out by credit unions, mutual savings banks, building societies, etc.
These banks are owned by their customers and follow the principle of one person one vote. Unlike schedule banks, these banks have regulated under both banking and cooperative legislation. These banks also provide services to non-members. In general, local branches of these banks can select their own board of directors and manage their own operations, however, most strategic and other major decisions require approval from the central office.