Banking Concern (Noun)
Meaning
A financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home".
Classification
Nouns denoting groupings of people or objects.
Examples
- The large banking concern was able to weather the financial storm due to its diversified investments.
- The government stepped in to bail out the struggling banking concern to prevent a wider economic collapse.
- After the merger, the new banking concern became one of the largest financial institutions in the country.
- The small business owner was forced to shop around for a loan after being rejected by the big banking concern.
- The banking concern was criticized for its role in the subprime mortgage crisis and subsequent foreclosure wave.