Financial institutions provide various services such as, from providing deposits to providing investments.There are central banks, retail and commercial banks, internet banks, credit unions, insurance companies, and plenty more.
Each financial institution has similarities, but each has an important role.
For instance central banks manage other banks. They don’t deal with the individual consumers. Compared to the investment banks that help said individuals with raising capital.
For example JpMorgan and chase holds 319 billion dollars, and has 2.62 trillion dollars in assets. By leading in investment banking and financial services their assets reflect.
The most common out of the bunch is a commercial bank, with 85 percent of total assets within financial institutions