Explain the services offered by commercial banks to their customers.

Answer:

-Safe keeping of valuable items such as wills, title deeds, jewelry etc
-They lend money to their clients in form of loans, overdrafts or discounting bills of exchange
-They facilitate transfer of money through cheques, credit transfers etc.
-They advice their clients on financial management and investment
-Facilitate international payments through letters of credit.
-They act as referees for their clients during a credit status inquiring.

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