Business Studies - Junior Secondary 2 - Bank service
Bank service
Bank service
TERM: 1ST TERM
WEEK TEN
Class: Junior Secondary School 2
Age: 13 years
Duration: 40 minutes of 5 periods each
Date:
Subject: BUSINESS STUDIES
Topic: BANK SERVICE
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
I.) Define Commercial Bank
II.) Explain the Services provided by the Banks
III.) Identify ethical Issues in Banking
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher explains the concept, Commercial Bank and discuss the Services provided by the Banks |
Students listens attentively to the teacher |
|
STEP 2 EXPLANATION |
Teacher identify and explain ethical Issues in Banking |
Students exhibit attentiveness and active engagement |
|
STEP 3 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
BANK SERVICE
A commercial bank is a financial institution that provides a range of banking services to individuals, businesses, and governments. These services include accepting deposits, lending money, facilitating payments, and offering various financial products such as savings accounts, checking accounts, loans, mortgages, and investment products.
Services provided by Banks
Commercial banks offer a variety of services to meet the financial needs of their customers:
I.) Deposit Services: Banks accept deposits from individuals and businesses, including savings accounts, current accounts, and fixed deposits.
II.) Lending Services: Banks provide loans and credit facilities to individuals and businesses for various purposes such as personal loans, business loans, mortgages, and credit cards.
III.) Payment Services: Facilitate domestic and international payment transactions through services like wire transfers, electronic funds transfer (EFT), and online banking.
IV.) Investment Services: Offer investment products and services such as mutual funds, securities trading, wealth management, and retirement planning.
V.) Financial Advisory: Provide advice and guidance on financial matters, including investments, savings strategies, and financial planning.
VI.) Foreign Exchange Services: Assist with currency exchange, hedging, and foreign trade transactions for businesses engaged in international commerce.
VII.) Risk Management: Offer insurance products, derivatives, and hedging strategies to manage financial risks.
Ethical Issues in Banking
Ethical issues in banking include:
I.) Transparency and Disclosure: Providing clear and accurate information to customers about fees, terms, and risks associated with financial products.
II.) Conflicts of Interest: Managing conflicts of interest when offering financial advice or selling products that may not be in the client's best interest.
III.) Fair Lending Practices: Ensuring fair treatment of borrowers regardless of race, gender, or socioeconomic status in lending decisions.
IV.) Privacy and Data Security: Safeguarding customer information and complying with regulations related to data protection and privacy.
V.) Responsible Investing: Practicing responsible investing by considering environmental, social, and governance (ESG) factors in investment decisions.
VI.) Corporate Governance: Ensuring effective governance practices to protect shareholder interests and prevent misconduct or fraud.
VII.) Consumer Protection: Complying with consumer protection laws and regulations to protect customers from unfair practices and deceptive marketing.
EVALUATION: 1. Define Commercial Bank
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively