RETAIL BANKING-THE NEW FLAVOR-----------------------
The Concept of Retail Banking
The retail banking encompasses deposit and assets linked products as well as other financial services offered to individual for personal consumption.
Generally, the pure retail banking is conceived to be the provision of mass banking products and services to private individuals as opposed to wholesale banking which focuses on corporate clients.
Over the years, the concept of retail banking has been expanded to include in many cases the services provided to small and medium sized businesses.
Some banks in Europe even include their private banking business i.e. services to high net worth net worth individuals in their retail Banking portfolio.
The concept of Retail banking is not new to banks. it is only now that it is being viewed as an attractive market segment, which offers opportunities for growth with profits.
The diversified portfolio characteristic of retail banking gives better comfort and spreads the essence of retail banking lies in individual customers.
Though the term Retail Banking and retail lending are often used synonymously, yet the later is lust one side of Retail Banking.
In retail banking, all the banking needs of individual customers are taken care of in an integrated manner.
The Concept of Retail Banking
The retail banking encompasses deposit and assets linked products as well as other financial services offered to individual for personal consumption.
Generally, the pure retail banking is conceived to be the provision of mass banking products and services to private individuals as opposed to wholesale banking which focuses on corporate clients.
Over the years, the concept of retail banking has been expanded to include in many cases the services provided to small and medium sized businesses.
Some banks in Europe even include their private banking business i.e. services to high net worth net worth individuals in their retail Banking portfolio.
The concept of Retail banking is not new to banks. it is only now that it is being viewed as an attractive market segment, which offers opportunities for growth with profits.
The diversified portfolio characteristic of retail banking gives better comfort and spreads the essence of retail banking lies in individual customers.
Though the term Retail Banking and retail lending are often used synonymously, yet the later is lust one side of Retail Banking.
In retail banking, all the banking needs of individual customers are taken care of in an integrated manner.