Skip to main content
debakshi gupta
CRM and English Skills expert
Asked a question last year

What is Retail Banking?

Where am I?

In Safejob Community you can ask and answer questions and share your experience with others!

debakshi gupta
CRM and English Skills expert

Retail banking refers to the provision of financial services by a bank to individual customers (private individuals), rather than corporations, local and central governments and other banks.

The term ‘retail,’ in this context, means that the ‘consumer’ acquires or buys a product for personal use. In this case, the consumer is the bank customer and the products are banking services.

Retail banking is different from investment banking, which deals just with companies, the trading of securities, initial public offerings, M&As, etc., and wholesale banking, which is the provision of services to other banks, mortgage brokers, large companies, and other financial institutions.