What is a Bank? - Explained

What is a bank

Definition

A bank can be interpreted in many ways in general terms and there could be various ways the term of banks can be used. You can typically state the commercial banks that holds your money and valuables. But there are more than that. There are blood banks, agriculture banks, seed banks, central banks, world bank.


What's exactly a bank does?

Bank is an organization or group of organizations which holds and secure things and release upon the need or the request depending on different scenarios. Or an organization which provides a service upon a collateral or a fee.

Ambition of banks? 

Ambition gets varied due to multiple cases upon the true reason for the bank to operate. Whether it's for non profit or whether it's for profit. If the bank operates targeting profits, that means the services that bank is providing are focused on monetary or fiscal return. 

If a type of a bank provides services without expecting profits, that bank should have a non profit ambition and the services provides by the bank should have been funded or there might be a fee which is only to cover the operational cost but not year over year profits.