When you look into the business model of Manulife Bank, it is possible you have at some point wondered; how does Manulife Bank make money?
This is what comes to mind when you consider that Manulife Bank provides its products and services through digital channels.
Understanding how a bank makes money is important. It can help you decide whether to open or operate an account at the bank in question.
Manulife Bank is a banking or financial institution that provide internet and telephone banking.
You can get personal banking, business banking, loans, mortgages and credit card services from Manulife Bank.
With all these services and products, how does Manulife Bank make money?
To learn and understand this, you will need to look and dig deeper into the financial statement of the bank.
It is a journey that will or might take you to look at the publicly available financial statements of the bank’s parent company.
But you are in luck today, because I have done that bit for you.
In this article, you will find out how Manulife Bank makes money. You will be able to learn and understand the business model of the bank in Canadian market.
How Does Manulife Bank Make Money?
- Online Banking
- Mobile banking App
When it comes to banking, it is all about creating solutions that customers want and can pay for.
A bank should provide products or services that create convenience. You should be able to access your money the moment you want to, instantly.
Manulife Bank partners with advisors to provide its products and services to clients.
As a customer of the bank, you will be dealing with the advisors who will guide on you on the various products or services the bank offers.
As a wholly-owned subsidiary of The Manufacturers Life Insurance Company, the bank is profitable and has adequate capital reserves.