Commerce SSS2 Third Term
The student should be able to:
1. Distinguish between the operations of commercial banks and specialized banks.
Development Banks are specialised financial institutions which provide long term credit or loans to other enterprises for capital projects. They provide loans for projects in the area of agriculture, commerce, and industry. Examples of development banks in Nigeria are; Nigeria Industrial Development Bank, Nigeria Bank for Commerce and Industry and Nigeria Agricultural and Co-operative Bank.
Functions of Development Banks
The following are the functions of development banks:
1. Development Banks provide long term loans for capital projects in specific areas.
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