Which of the following is not a characteristic of a commercial bank?

  • A Established as limited liability company
  • B Established by individuals or organizations
  • C Established to issue bank notes
  • D Established with the view of making profit
jamb 2022commerce

The correct answer is C. Established to issue bank notes

The characteristics of commercial banks are:

- it is a limited liability company

- the motive for its establishment is profit making

- they are members of the money market

- commercial banks are incorporated

- they accept deposits and other valuables.

- they are owned by private individuals, institutions or governments.

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