There has been a significant rise in the number of large businesses in the recent past. Multinational, Government and Private Companies are expanding their horizons and growing rapidly. They hire innumerable employees, to make sure that the finances of the organization are intact and that all transactions are carried off, in an orderly manner. However, almost all business practices will come to a screeching halt, without the involvement of Banks.
Over the years, banks have become increasingly aware of the large chunk of income they receive from the businesses. This is why, a number of banks have started offering corporate banking, which aims at offering basic banking facilities, as well as other services, tailor made for large-scale organizations.
Some of the features of Commercial Banking include:
International Transactions: Globalization has resulted in constant over-seas trading. This means that, different currencies are involved while making payments. In order to aid the transfer of money in a hassle free manner, banks provide foreign exchange transactions. They also protect the interests of their customers from currency fluctuations and help to ensure the best possible rate.
Financing of Projects: Businesses are constantly growing and expanding. They are always on the lookout for new sectors, where they can setup and increase profits. However, expanding and diversification involves huge investments. Banks provide these businesses with loans at reasonable rates of interest. The risk of the project is directly proportional to the rate of interest. A risky project will have a significantly higher rate of interest.
Insurance: Some private banks offer their clients insurance policies as well. Thus, both banking and insurance can be covered by one financial organization. This can be a great convenience to the corporate organizations.
Advisory Services: All financial transactions are carried out through the bank. This gives the bankers access to all the financial information of the company. Thus, they will be in a good position to lend advice. This includes input with regards to management of assets, taxation and consulting of mergers and acquisitions.
Brokerage Facilities: Banks offer a number of brokerage related services with regards to negotiating. This is especially useful in terms of mergers and acquisitions. They play a significant part to help companies get the best rate, in case they are looking to sell part of the business or acquire a new entity.
Shareholding: Banks help in the managing and maintaining of company shares. They are also allowed to purchase shares of the organization in order to increase its liquidity and thus, facilitate the business.
Asset Management: Banks can also help in the management of company assets. This includes setting up of accounts to store them and regular audits to make sure that they are undamaged.
These are just few of the services that the banking sector offers to corporate clients. These services help to make sure that business practices can be carried out conveniently.
CL King & Associates has a team of highly skilled and highly pro active personnel who are able to cater to all of the requirements of a corporate client, no matter how unique or difficult the requirement may be. CL King banking personnel proactively find ways in which to complete the request of the client as it could make a lot of difference to the functioning and growth of the client’s business which is anyways the main reason they need specialized corporate banking services.
If you want to learn more, consult with the experts at CL King. You can call at 518.447.8050