Financial Service Industry

Financial Service Industry?

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers, and some government-sponsored enterprises.

The term “financial services” became more prevalent in the United States partly as a result of the Gramm–Leach–Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.

Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent and has its own customers, etc.

In the other style, a bank would simply create its own insurance division or brokerage division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company.

Financial Service

Central banking

Other monetary intermediation

Activities of holding companies

Trusts, funds and similar financial entities

Financial leasing

Other credit granting

Life insurance

Non-life insurance

Reinsurance

Pension funding

Administration of financial markets

Security and commodity contracts brokerage

Risk and damage evaluation

Activities of insurance agents and brokers

Fund management activities

Buying and selling of own real estate

Real estate agencies

Management of real estate on a fee or contract basis

Renting and leasing of cars and light motor vehicles

Renting and leasing of trucks

Renting and leasing of other personal and household goods

Renting of video tapes and disks

Renting and leasing of air transport equipment

Renting and leasing of agricultural machinery and equipment

Role of Shamkris

A Project Report is a document that provides details on the overall picture of the proposed business. The project report gives an account of the project proposal to ascertain the prospects of the proposed plan/activity.

Shamkris will provide a Project report covering Industry License requirements, competitor analysis, Land requirements, machinery requirements, equipment requirements, and financial requirements.

Some of the areas covered in the project report are outlined below:

  • Introduction
  • Project Description
  • Uses and Applications
  • Market Survey
  • Raw Materials
  • Manufacturing Process
  • Process Description
  • Process Flow Diagram
  • Plant Layout
  • Details of Plant & Machinery
  • Suppliers of Raw Materials
  • Suppliers of Plant & Machinery
  • Plant Location Factors
  • Land & building Required
  • Power and Water Required
  • Details of Manpower Required
  • Financials of the Project
  • License and application Certificate

Financials of the Project includes:

  • Land and Building Costs
  • Plant and Machinery Costs
  • Other Fixed Assets
  • Fixed Capital Investment
  • Raw Material Costs
  • Salaries and Wages
  • Total Working Capital
  • Cost of Project
  • Total Capital Investment
  • Cost of Production
  • Turnover per Annum
  • Profitability Analysis
  • 5-year Profit Analysis
  • Break-even Point
  • Resources of Finance
  • Cash Flow Statement
  • Projected Balance Sheet

FAQ

10 Types of Financial Services:
  • Banking.
  • Professional Advisory.
  • Wealth Management.
  • Mutual Funds.
  • Insurance.
  • Stock Market.
  • Treasury/Debt Instruments.
  • Tax/Audit Consulting.
The major categories of financial institutions include central banks, retail and commercial banks, internet banks, credit unions, savings, and loans associations, investment banks, investment companies, brokerage firms, insurance companies, and mortgage companies.

The financial sector performs indispensable functions such as enabling saving and investment, providing protection from risks and supporting the creation of new jobs and enterprises. It is critical that the sector operates to provide these functions for society in a stable, sustainable way.

The most common types of financial institutions are commercial banks, investment banks, insurance companies, and brokerage firms. These entities offer a wide range of products and services for individual and commercial clients such as deposits, loans, investments, and currency exchange.