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A bank can be described as a commercial or state institution that offers financial services, including issuing money in different forms, receiving deposits of money, lending money and processing transactions and the creating of credit. Any commercial bank of the world accepts deposits from customers and in turn makes loans, even in excess of the deposits. It is a process known as fractional-reserve banking. Some of the banks have the authority to issue banknotes as legal tender. You will find many banks offer ancillary financial services to make extra profit; for example, some banks also rent safe deposit boxes in their branches for more convenience for the customers. UK is one country that has numerous top banks.
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