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Banks are established as corporations because corporation is formed by number of persons who pool in their resources to enter business for profit. The methods of financing available to such type of organization. The sale of stock and bonds can raise a greater amount of capital which is needed to undertake the business with multifarious functions. Banks, which by their very nature, invest into large amounts of capital. Furthermore, loans are given out for long durations and only an entity with a long tenure could be beneficial in such a case. Corporations then meets this test because of its perpetual life.
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∙ 11y ago
Jessa Mae Bernardino
Banks are established as corporations because corporation is formed by number of persons who pool in their resources to enter business for profit.
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When was Bank of America established?
The Bank of Italy was founded in San Francisco by Amadeo Giannini in 1904, He renamed The Bank of Italy in 1967 to the Bank of America, hence the Bank America Corporation was established
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The chairman of corporation bank is Ajai Kumar.
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Does Bank of America offer secured business credit cards?
Bank of America is a huge, well established corporation which offers multiple types or credit cards. You can apply for a secure business card by phone or online application.
Why bank established as corporation in Philippines?
why bank are establish as corporation
When was Bank of America established?
The Bank of Italy was founded in San Francisco by Amadeo Giannini in 1904, He renamed The Bank of Italy in 1967 to the Bank of America, hence the Bank America Corporation was established
Who is the owner of BPI?
Bank of the Philippine Islands (BPI), is owned by the Ayala Corporation. The corporation was founded by Domingo Roxas and Antonio de Ayala in 1834. The bank was established in 1851.
When was the company First US established?
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When was Well Fargo Bank established?
Wells Fargo is an extremely popular, trusted and credible bank used by many. It was established in 1998 when companies rmereged between Minneapolis based Norwest Corporation and the original Wells Fargo.
When was Corporation Bank created?
Corporation Bank was created in 1906.
Can you Use corporation in a sentence?
The Bank of America is a corporation that acts as a bank for many people.
Is RBI government company or public corporation?
RBI, the Reserve Bank of India, was established in 1935 and was privately owned. The government of India took over the bank in the nationalization in 1949.
Who is chairman of corporation bank?
The chairman of corporation bank is Ajai Kumar.
When was the Bank of America first estabilished?
The Bank of America Corporation is a financial institution headquartered in Charlotte, North Carolina. Amadeo Gianini established the Bank of America and Italy in 1922. On November 3, 1930, it was renamed the Bank of America.
Who must approve the charter in order for the corporation to be legally established?
Secretary of sate where the corporation is established
Who must approve the charter in order for a corporation to be legally established?
Secretary of sate where the corporation is established
