We have at one point of our lives heard about commercial banks. Commercial banks are one of the best banks in the world. They have in no small measure contributed to the world's wealth.
Some of the problems associated with the Commercial banks include
(1)urban concentration :majority of the commercial banks are located in urban centers thereby denying the rural areas banking services.
(2)low savings :majority of the populace are poor and this leads to their inability to save in commercial banks.
(3)corruption :there is a high level of corruption in the banking industry as some bank managers and officials embezzle money and grant unauthorized loans to friends and relatives because of their selfish interest.
(4)high level of illiteracy:high level of illiteracy among the people makes banking Operations and services very difficult.
(5)Government's frequent interventions in the operation of bank sometimes make things difficult for commercial banks to operate smoothly.
(6)low patronage :commercial banks are not patronized as it should be as a result of ignorance, poverty and illiteracy.
(7)high interest rates:the high interest rates charged by banks makes it difficult for prospective customers to take loans from the banks.
(8)lack of innovative banking practices :most commercial banks are not innovative in their banking practices as customers are not given the prompt attention they desire.
(9) capital shortage :most of the commercial banks have low capital base and this makes it impossible to grant loans to prospective customers.
(10)non repayment of loans :some customers that took loans fail to repay the loans and this has led to the collapse or failure of some commercial banks.
If all these problems can be solved, then commercial banks will be one of the best banks in the world