What Is Private Banking?
A private bank is a non-shareholding company operated by a sole proprietorship or partnership. It is an organizational form of the early Industrial Bank. Banks are owned by individuals, controlled by families, and are usually named after individuals. It has played an important role in the history of capitalist development. With the great development of the capitalist economy, it is difficult for such banks to meet the requirements for raising large amounts of monetary capital, and they have gradually been replaced by rapidly developing stock banks. [1]
private bank
(Non-shareholding banks)
Right!
- A private bank is a non-shareholding company operated by a sole proprietorship or partnership. It is an organizational form of the early Industrial Bank. Banks are owned by individuals, controlled by families, and are usually named after individuals. It has played an important role in the history of capitalist development. With the great development of the capitalist economy, it is difficult for such banks to meet the requirements for raising large amounts of monetary capital, and they have gradually been replaced by rapidly developing stock banks. [1]