Question

Choose three different types of financial institutions and research their websites. Write a report (about 500 words) describing at least three services that each of these financial institutions provides to consumers and businesses.

Answer 1

Three types of financial institutions and the services they offer include:

Commercial banks:

• Issue loans to businesses and individuals.
• Deposit services to entities.
• Payment agent for trade partners.

Insurance company:

• Offer protection from financial losses.
• Wealth accumulation.
• Investment services to grow wealth.

Investment banks:

• Underwrite stocks for IPOs.
• Offer advisory services to companies and individuals.
• Oversee mergers and acquisitions.

What are some types of financial institutions?

Commercial banks are one of the largest and they offer deposit services to people and companies. They then use these deposits to make loans.

Insurance companies act to protect their clients from financial losses arising from unforeseen circumstances. They also help with wealth accumulation if a claim is not made.

Investment banks are very important for stock issuance, and mergers and acquisitions where they act as financial advisors and facilitators.

Find out more on investment banks at brainly.com/question/25787830.

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