Want to say banking institution differently? Here are other words for banking institution and its similar synonyms and opposite words to say in unique way.
Meaning of banking institution
A banking institution refers to a financial organization that provides banking services, including accepting deposits, making loans, and facilitating transactions.
Etymology of banking institution
The term "banking institution" originates from the word "bank," which comes from the Italian word "banca," meaning bench or table, referring to the benches used by money changers in Italy during the Renaissance.
The concept of banking institutions dates back to ancient times, with evidence of early banking systems in civilizations such as Greece, Rome, and China.
Over time, the term "banking institution" has evolved to encompass a wide range of financial organizations, including commercial banks, investment banks, credit unions, and other types of financial establishments.
Synonyms
Definitions
- A banking institution is defined by Oxford Languages as an organization that provides financial services, including deposit accounts, loans, and payment services.
- It can also refer to a financial establishment that is authorized to accept deposits, make loans, and provide other financial services to individuals, businesses, and organizations.
Usage Examples
- The banking institution provided a range of financial services to its customers, including checking and savings accounts, loans, and credit cards.
- The government established a new banking institution to provide financial support to small businesses and entrepreneurs.
- The banking institution was fined for its role in the financial crisis, having engaged in reckless lending practices and speculative investments.