Learn Hardcore Japanese: ginkou ha tikatetu no eki no tikaku ni arimasu.

The particle は marks 銀行 as the topic of the sentence – “As for the bank…” It sets the stage for what you’re talking about. If you used が instead (銀行が地下鉄の駅の近くにあります), you’d be emphasizing the existence of the bank as new or important information, rather than simply stating where the bank is.

Why are there two の particles in 地下鉄の駅の近く?

Each の links two nouns to form a more complex noun phrase:

地下鉄の駅 = “subway station” (literally “station of the subway”)
駅の近く = “vicinity of the station” (literally “near the station”)
So altogether 地下鉄の駅の近く means “in the vicinity of the subway station.”

What exactly does 近く mean here?

近く is a noun meaning “vicinity,” “neighborhood,” or “area nearby.” Because it describes a location, it needs a location‐marking particle (に in this case) to show where something exists.

Why is the particle に used after 近く? Couldn’t we use で or omit it?

に marks the place where something exists with verbs like ある (to exist for inanimate things).

銀行は公園の近くにあります。 = “The bank is near the park.”
Using で would suggest an action takes place there (e.g. “at the vicinity”), which doesn’t fit あります (a state‐of‐being verb). Omitting the particle would be ungrammatical.

Why is the verb あります used instead of います?

Japanese distinguishes animate (people, animals) vs. inanimate (objects, places) existence.

あります is for inanimate things (like 銀行 or 机).
います is for animate beings (like 人 or 猫).

Can I change the word order? For example, say “地下鉄の駅の近くに銀行はあります”?

You can reorder elements for emphasis, but the usual natural order is Topic (銀行は), Location (地下鉄の駅の近くに), then Verb (あります).

“地下鉄の駅の近くに銀行はあります” is grammatically correct but sounds slightly marked or poetic.

Could you shorten 地下鉄の駅 to 地下鉄駅?

Yes. 地下鉄駅 is a common compound noun for “subway station.” So you could say:

銀行は地下鉄駅の近くにあります。
Both versions are acceptable.

Is it possible to drop は and simply say “銀行、地下鉄の駅の近くにあります”?

In casual speech you might hear that, but it’s colloquial and omits the topic marker. Standard Japanese usually requires は (or が if you want to emphasize existence) to clarify the grammatical role of 銀行.