The bank is an institution that deals in money and its substitutes and provides other money-related services; a bank accepts deposits and makes loans. It derives a profit from the difference between the costs (including interest payments) of attracting and servicing deposits and the income it receives through interest charged to borrowers or earned through securities.
Table of Contents
Types of banks
The principal types of banks in the modern industrial world are commercial banks, which are typically private-sector profit-oriented firms, and central banks, which are public-sector institutions. Commercial banks accept deposits from the general public and make various kinds of loans (including commercial, consumer, and real-estate loans) to individuals and businesses and, in some instances, to governments.
Central banks, in contrast, deal mainly with their sponsoring national governments, with commercial banks, and with each other. Besides accepting deposits from and extending credit to these clients, central banks also issue paper currency and are responsible for regulating commercial banks and national money stocks.
The term commercial bank covers institutions ranging from small neighborhood banks to huge metropolitan institutions or multinational organizations with hundreds of branches. Although U.S. banking regulations limited the development of nationwide bank chains through most of the 20th century, legislation in 1994 easing these limitations led American commercial banks to organize along the lines of their European counterparts, which typically operated offices and bank branches in many regions.
Fidelity Bank
Fidelity Bank is a commercial bank in Ghana which was issued with its Universal Banking License on June 28, 2006, making it the 22nd bank to be licensed by the Bank of Ghana. It is one of the twenty-seven licensed commercial banks in the country.
Fidelity Bank is headquartered in Accra, at Ridge Towers. As of January 2013, the bank operates 75 networked branches and 120 VISA-enabled ATMs at various locations
Fidelity Bank Customer Care Number In Ghana
Customer Care. Call 0800 00 3355 (Ghana only) Or +233 0302819292 (All countries) WhatsApp – 0245226400 [email protected].