Commercial banks play a key role in the economy both at a national and global level. The importance of commercial banks include the fact that they serve as a trusted and safe place where the funds of people and businesses can be kept on their behalf, reducing the necessity to keep large sums of money on the private or business premises. On the international level, commercial banks serve as a source for transferring money from one country to another, eliminating the need to travel with money. The money paid by depositors into their savings accounts are also used by the banks to foster economic growth through the lending of such money to various businesses and individuals.