A financial centre is a
global city that is a
company and
business hub, as well as being home to many world famous
banks and
stock exchanges.Financial centres have existed throughout history in ancient centres such as
Babylon and
Constantinople. At present, the five main financial centres are
London,
New York City,
Singapore,
Hong Kong and
Zurich. Additional financial centres include:
Cayman Islands,
Frankfurt,
Chicago,
Paris,
Tokyo and . One of the most commonly accepted standards to determine how a city is ranked as a financial centre is the
Global Financial Centres Indexby
City of London Corporation, which is updated annually.
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A branch, banking centre or financial centre is a
retail location where a
bank,
credit union or other
financial institution (and by extension,
brokerage firms) offers a wide array of
face to face service to its customers.Historically, branches were housed in imposing buildings, often in a
neoclassical architecture style. Today, branches may also take the form of smaller offices within a larger complex, such as a
shopping mall.Services provided by a branch include cash withdrawals and deposits from a
demand account with a
bank teller,
financial advice through a specialist,
safe deposit box rentals,
bureau de change,
insurance sales (where it is allowed by law), etc.
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