What is the name given to a small service facility that is staffed by a parent bank personnel and designed to assist the clients of the parent bank in their dealings with information about local business practices and credit evaluation of the MNC's foreign customers?

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Business

Donaldson

7 April, 00:24

What is the name given to a small service facility that is staffed by a parent bank personnel and designed to assist the clients of the parent bank in their dealings with information about local business practices and credit evaluation of the MNC's foreign customers?

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Maverick Morrow · Answer 1

Answer: A representative Office

Explanation: A representative office is usually set by a parent office (bank) in a location where it does not necessarily warranted but done to service one or a few customers.

A bank will set up a representative office even if it has one Multi national company as a customer in the location.

They generally conduct non-transactional operations, assist the clients with information about the service package available to the client use.