Commercial Bank, abbreviated as CB in English, is a kind of bank, whose duty is to act as a credit intermediary for financial institutions through deposits, loans, remittances and savings. The main business scope is to absorb public deposits, issue loans and discount bills. General commercial banks do not have the right to issue money, and the traditional business of commercial banks is mainly deposits and loans.
From August 20 14 1 day, individual customer account management fees, annual fees and pension withdrawal fees are conditionally exempted, and some charging standards are reduced. The highest handling fee for personal inter-bank counter transfer and remittance is capped in 50 yuan, and the handling fee for public inter-bank counter transfer and remittance is capped in 200 yuan.
According to the Law of People's Republic of China (PRC) Commercial Bank, China Commercial Bank can engage in the following businesses: absorbing public deposits and issuing loans; Handling domestic and overseas settlement, bill discount and issuance of financial bonds; Acting as an agent to issue, honor and underwrite government bonds and buy and sell government bonds; Engage in interbank lending; Buying and selling, acting as an agent to buy and sell foreign exchange; Providing letter of credit services and guarantees; Agency payment and insurance agency business, etc. According to the regulations, commercial banks are not allowed to engage in securities business and non-bank financial business other than government bonds.
Although the organizational form, name, business content and focus of commercial banks in different countries are different, their main businesses are generally divided into debt business, asset business and off-balance sheet business. With the development of internationalization of banks, these domestic businesses can also be extended to international businesses.