Overview of the finance companies
Finance companies are the organization that makes loans to individuals and businesses. Unlike a bank, a finance company does not receive cash deposits from clients, nor does it provide some other services common to banks, such as checking accounts. Finance companies make a profit from the interest rates (the fees charged for the use of borrowed money) they charge on their loans, which are normally higher than the interest rates that banks charge their clients.
1. What are the three types of finance companies?
The three types of finance companies are (1) sales finance institutions, (2) personal credit institutions, and (3) business credit institutions. Sales finance companies specialize in making loans to customers of a particular retailer or manufacturer. An example is General Motors Acceptance Corporation
2. What are financial products?
Financial instrument products include: loans, guarantees, equity and quasi-equity. This short reference guide is addressed to managing authorities, financial intermediaries, final recipients and other stakeholders.
3. Why financial services are important?
It is the presence of financial services that enables a country to improve its economic condition whereby there is more production in all the sectors leading to economic growth.
The benefit of economic growth is reflected on the people in the form of economic prosperity wherein the individual enjoys higher standard of living. It is here the financial services enable an individual to acquire or obtain various consumer products through hire purchase. In the process, there are a number of financial institutions which also earn profits. The presence of these financial institutions promote investment, production, saving etc.
4. What are the best finance companies in the world?
Berkshire Hathaway is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, Forest River and NetJets, and also owns 38.6% of Pilot Flying J; and significant minority holdings in public companies Kraft Heinz Company (26.7%), American Express (17.6%), The Coca-Cola Company (9.32%), Bank of America (11.65%) and Apple (5.4%)
Branch in country: Australia
ICBC (Industrial and Commercial Bank of China) is a Chinese bank . The head office is located at 55 Noi Phuc Hung Mon Avenue, Tay Thanh District , Beijing Capital . This is the largest bank in China and also the largest in the world in terms of total assets. It is also one of the state-owned commercial banks under the Big Four , which is the group of the four largest banks in China together with the Bank of China ,Agricultural Bank of China and China Construction Bank . It was incorporated as a limited liability company on January 1, 1984. As of December 2017, it has total assets of US $ 4.009 billion.
Branch in country: HongKong
HSBC is the largest financial group in the world. market capitalization. This group is also the third largest group in the world according to the ranking of Forbes in 2000. HSBC Holdings was established in 1991 as the parent company of The Hong Kong and Shanghai Banking Corporation based in Hong Kong.
This bank is the 4th largest corporations world of property (1,861 billion dollars to the moment when, on 31 month 12 year 2007 , while Citigroup has assets of $ 1,884 billion). The bank reports its finances in US dollars because 80% of its revenue comes from outside the UK . Nearly 22% of the bank's revenue is in Hong Kong, where it is headquartered until 1993, at the end of 2005 being the largest banking group in the world voted by Tier 1 capital . Currently the Group's shares are listed and traded on the London, Hong Kong, Paris, New York and Bermuda stock exchanges.
Branch in country: HongKong
Barclays is a British multinational investment bank and financial company, headquartered in London, England. Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, and investment management.
Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.
According to a 2011 paper, Barclays was the most powerful transnational corporation in terms of ownership and thus corporate control over global financial stability and market competition, with Axa and State Street Corporation taking the 2nd and 3rd positions, respectively.
Branch in country: HongKong
All company information by source: https://en.wikipedia.org/
Is the finance industry growing?
Although it is difficult to obtain specific figures on the size of the global financial services sector, the sector is a large part of any nation's economy. It consists of banks, investment firms, and insurance companies—all of which play a large role in the workings of an economy—and the sector will only continue to grow through technological innovation and as developing countries continue to advance in how they structure these services for their countries.
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