Business Banking

Business Banking Meaning:
Business Banking is a targeted bank offering that provides banking and financial services to the small business and SME market. Its offering includes transaction accounts, business loans, lines of credit, cash management, trade finance, manage payments and other business related products catered to companies and not individuals.

Business Banking Example:
Business Banking seeks to meet the financial needs of multiple business sectors such as trade, agriculture and industry, playing an important role in meeting their commercial and economic requirements when establishing, managing and growing their business. Business Banking covers several financial functions such as deposits, loans and credit, money transfers, merchant banking facilities, rent payments, foreign exchange transactions and securities trading. In business banking, the bank may also perform the functions of a trustee, attorney and executor, in addition to tax planning.