The english commercial banks have branches in all the major towns and a similar structure and mode of working is common to them all. the owners are the shareholders. at the outset they provide the necessary capital. they are all organized on the joint stock principle and are registered public companies.
the chairman and board of directors are elected by the ordinary shareholders at the annual general meeting and are responsible for the efficient management of the bank. the board concerned with the over-all policy of the bank and the major decisions which put that policy into effect.
the board will appoint a managing director who is directly responsible to them and a member of the board. they will also appoint the most senior executives, who in turn appoint the rest of the clerical staff, who will be responsible in different, capacities for the day to day running of the bank.
the essence of a bank’s activities is the collection of deposits through current accounts and deposit accounts and the use of these funds to provide loans or funds for investment. the current account is the one commonly held and is drawn upon by cheques and standing orders. the deposit account is more in the natural of a savings account. the pattern of investments, which a bank decides upon is crucial because on the one hand, the bank must use the funds wisely to make a profit and on the other funds must be available for depositors to withdraw when they wish to do so.

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to meet
a share
to work
to manage
active

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