What is the primary role of a bank?

The primary role of a bank is to handle money and keep it safe for savings and commercial purposes. Banks serve as financial institutions that accept deposits from customers and provide a safe place for individuals and businesses to store their money. They also facilitate transactions, allowing people to withdraw funds, write checks, and make electronic payments, ensuring the security of these assets.

Additionally, banks provide essential services that contribute to the overall economy, such as processing deposits and withdrawals, providing safe deposit boxes, and offering checking and savings accounts. This foundational function of managing and safeguarding money is crucial because it allows individuals and businesses to operate effectively and manage their financial resources.

While banks may offer loans, sell financial products, and help manage investments, these activities are secondary to their main purpose of providing a secure environment for people's money.