There are Types of banks and their different functions. Today, the banking sector focuses on solving a variety of problems that individuals or companies may face on a daily basis, interacting with a wide range of organizations on a daily basis. The problem is that banks have different problems because each person or company has different needs, and each bank operates a different business and has different products. It’s very important that we all know 100% and above to get closer to the bank we need. Are the products it offers.
There are individuals in turn who have different situations and what specialties this category offers . Within Spain, the Bank of Spain is responsible for overseeing all financial institutions and their operations. However , the products offered to each of these banks provide regulations and requirements to each government . This means that each bank is governed by different rules. So today we will talk a little bit about banks and how each of them works with different banks.
Types of banks based on assets
What are private banks?
Private banks are banks that have the same shareholders as different private entities or individuals with large investments. This type of banking became popular a few years ago. One great example is the popular ING Direct Bank.
What are public banks? How do they work?
Regarding public banks. This category is wholly owned by the state. These banks are the most well-known and have been around for most of their lives. Types of banks An example of this is the Bank of Spain or the European Central Bank.
What are mixed banks? How do Private Bank work?
Mixed banks are, as they are called, private-owned banks with public capital. These types of banks are well-known and commonly used. The Spanish government invests in these banks through FROB.
Depending on their movement. Various banks
One of the most interesting categories is the Bank’s operations or prospects. First of all, it may seem like everyone is the same, but you will tell them what that goal is and what its customer base is. We can find in this list
Issuing bank or central bank; What? How do they work?
This category is called banks. From here To oversee the entire financial system of the country. This category is responsible for maintaining the integrity of all the country’s currencies and all the country’s reserves, as well as for monetary policy. Within Spain, the Spanish Bank, which is responsible for it, is responsible for the entire Spanish financial crisis. But the central bank is the body that really controls everything.
What are commercial banks? How do they work?
Commercial banks are banks that focus on customer service. These banks provide loans, Deposits These are not investment banks.
At this stage, the separation of the banks took place in 1929 due to US orders to avoid a bankruptcy. In Europe, there is no law that separates finance, but banks do make it secure.
Investment banks; What are they? How does it work?
Within investment banks we find all the products of the future. These banks focus only on companies and individuals and you can look for options in these banks, such as buying companies or merging two. Here you can see the range of securities on sale. You get leverage to grow your business faster.
What are corporate banks? How do they work?
Most companies in corporate banks have customers. Here are some suggestions on how to look or get an appointment for antique items. These types of products can be used to pay for services, such as credit lines; Special discounts on pledges; Items related to income from payments and checks or receipts.
Consumer banks; What are they? How does it work?
Consumer banks have individuals. These types of banks are the places we visit every day. Personal loans to buy our dream home; Mortgage agreements; Credit card requests;
Savings banks; What are they? How does it work?
These savings banks in Spain are non-profit. In the wake of the recent crisis (as many have turned into banks), there have been few clues to the Savings Bank, but these organizations exist to make it possible for both individuals and companies to do social work. Savings banks.
What are mortgage banks? How do they work?
These types of banks are very popular when it comes to lending to buy real estate. This bank is made up of individuals and companies. In Spain You can not find this type of bank; Because they are popular in the United States but not yet widespread, but there are some companies in Spain that you can go to for this purpose.
These types of financial banks are well known among companies. These banks are responsible for injecting capital to help companies recover. There are no public offices in this category
Official credit institutions; What are they? How does it work?
Official credit institutions are responsible for operating in Spain through the official credit bureaus. These categories are for businesses that have direct contact with the Ministry of Economy. One of the main objectives of this type of organization is to increase the wealth gained at the national level and to increase the capacity for almost all of it to be properly distributed. The aim is not only to increase employment for a variety of economic and cultural activities, but also to boost tourism in the area.
The ICO aims to capitalize on companies across Spain that are responsible for providing this type of project . These companies aim to increase competition between these companies and contribute to the development of the whole country.
In addition, the platform assists and encourages companies to cooperate through economic policies when problems arise due to natural policies and economic crises.
As you can see from this position, approaching the bank is not as easy as we might think. Because our bank knows what we want. We need to know what we need to ask more precisely. We want it.
Each bank has set standards for its products, but sometimes you can offer 100% substandard products to win over some customers. Although the Bank of Spain tries to control all of this, it is important that each type of bank informs us of what it can offer us and for what purpose it is more secure for all our business and requests.
However, the best option is to approach our trusted bank and tell them what we want to achieve. Usually the same bank has different branches and each bank has a specialist from each of them. Go to him before you have any doubts.