Thats a rather incomplete business model description of banking. There are at least three distinct elements and largely unrelated to core banking: payments inf

Thats a rather incomplete business model description of banking. There are at least three distinct elements and largely unrelated to core banking: payments infrastructure / gatekeeping the private/public monetary system, managing interest rate risk (which is what you describe) and managing credit risk. Add to that countless "non-core" intermediation activities which nevertheless, depending on the type of bank can be major revenue sources. Maximazing social utility is indeed the key question but how to do it in a sustainable and future proof way is hardly ever seriously asked.