ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC INSTITUTIONS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following bank was once a building society?
A
Sagicor Bank
B
National Commercial Bank
C
Scotiabank
D
Jamaica National Bank
Explanation: 

Detailed explanation-1: -Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria.

Detailed explanation-2: -JN Bank is Jamaica’s first mutually-owned commercial bank, 100 per cent held by its savers and borrowers.

Detailed explanation-3: -The Bank of Nova Scotia was established in Jamaica in 1889, and has enjoyed a history of changes and transformations from colonialism to independence.

Detailed explanation-4: -NatWest Group is a relationship bank for a digital world. We champion potential; breaking down barriers and building financial confidence so the 19 million people, families and businesses we serve in communities throughout the UK and Ireland can rebuild and thrive.

There is 1 question to complete.