Commercial banks have expanded in recent years not only by acquiring other banks but also by acquiring other types of financial service firms.

Question

Quizplus · Accepted Answer

This statement is true. Commercial banks have diversified their services by acquiring other types of financial service firms such as investment banks, insurance companies, and brokerage firms. This allows them to offer a wider range of services and expand their customer base.

Commercial Banks Have Expanded in Recent Years Not Only by Acquiring