Which of the following is not a characteristic of a commercial bank?
- Established as limited liability company
- Established by individuals or organizations
-
Established to issue bank notes
- Established with the view of making profit
The correct answer is: C
Explanation
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.