GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Commercial Bank


Synonyms:corporate bank, service provider
Acronyms &
abbreviations:
CB
Filed Under: financial-banking
Tags: banking, business
 

Definition of commercial bank (CB)

commercial bank (CB)
1. A financial institution that provides a wide range of services to its customers. Such services can include chequing and savings accounts, business loans, and credit cards.

Related Terms and Acronyms:

  • bank   An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • commercial banking   Commercial banking centres serve small to medium-sized businesses such as franchising, leasing and cash management services.
  • Commercial Banking Centre (CBC)
  • correspondent bank   A bank that holds deposits of another bank, usually a smaller bank, and in turn provides certain banking services that may not be readily available to the smaller bank.
  • independent bank   A locally owned bank that is operated without being affiliated with a bank holding company. Also known as a community bank.
  • niche banks   Smaller banks that cater to particular communities or certain industries. These banks have been thriving in the fallout from mega-bank mergers.
  • retail banking   Banking services offered to individual customers such as savings accounts, personal loans, cheque cashing, and RRSPs.
  • schedule i banks   A designation in the Bank Act that refers to Canadian-owned banks that are widely held, i.e., ones in which no one owner holds more than 10% of shares.
  • schedule ii banks   A designation in the Bank Act that refers to foreign-owned banks and closely held Canadian banks, i.e., banks in which an owner may hold more than 10% of outstanding stock.
  • schedule iii banks   Foreign banks not incorporated under the bank act that are allowed to conduct business in Canada.

More Related Terms and Acronyms

  • joint-venture commercial bank (JVCB) — Acronym

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