Banking Sector

The banking sector refers to the segment of the economy comprised of financial institutions that provide various banking services, including accepting deposits, providing loans, and offering investment products. This sector plays a crucial role in the overall economy by facilitating financial transactions, enabling savings and investments, and supporting economic growth and stability. It includes commercial banks, investment banks, credit unions, savings and loans associations, and other financial institutions that operate in the financial markets. The banking sector is regulated by government entities to ensure stability, protect consumers, and promote fair practices.