PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)

Ian walks into a depository institution and says he wants to open an account. He asks for details about the institution. The employee tells Ian that they offer many services such as checking and savings accounts, mortgages, personal loans, and debit cards. Ian asks if this institution is a non-profit, and the employee tells him that they are a for-profit organization. Which type of institution is Ian considering for his account?

A. credit union

B. web-only financial institution

C. commercial bank

A commercial bank is a for-profit financial institution that lends its clients loans, receives deposits, and delivers other financial services. Businesses' medium and short-term financial needs are assisted by commercial banks.

What is commercial bank and types?

A commercial bank is a for-profit financial organization that lends loans, accepts deposits from consumers, and offers a variety of other financial services.
The medium and short-term financial needs of enterprises are assisted by commercial banks.

Responsibilities of commercial banks, Accepting deposits, approving loans, advances, cash, credit, handling overdrafts, and discounting bills are some of the primary duties.
The issuance of letters of credit, the safekeeping of assets, the provision of consumer finance, the making of student loans, etc. are all considered secondary functions.

Banks are of various types which are explained as under:

Commercial Banks: ADVERTISEMENTS.
Exchange Banks: Exchange banks are those banks which deal in foreign exchange and specialise in financing foreign trade.
Industrial Banks: ADVERTISEMENTS.
Agricultural Banks.
Cooperative Banks.
Savings Banks.
Central Bank.

Learn more about commercial bank here:

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