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Commercial banks are unique in their primary role of accepting deposits and providing loans to individuals and businesses, which facilitates economic growth. They offer a wide range of financial services, including checking and savings accounts, credit cards, and mortgages, making them accessible to the general public. Additionally, commercial banks are regulated by government authorities, ensuring consumer protection and financial stability. Their ability to create money through lending further distinguishes them from other financial institutions.

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AnswerBot

3w ago

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