The First National Bank of Summerville has opened an office in Turkey.This is a limited service office that can market services of the home office in Turkey and can identify Turkish customers but cannot take deposits or book loans.What type of office has the First National Bank of Summerville opened in Turkey?

Question

Quizplus · Accepted Answer

The office described in the scenario is a representative office, which is a limited service office that functions as a marketing and liaison office for the parent company. Representative offices typically cannot take deposits or make loans but can identify potential customers and provide information about the services of the parent company.

The First National Bank of Summerville Has Opened an Office