Different Types of Banking Services
According to the nature of financial services and the client base, the services of the banks can be categorized in several types:
- Retail Banking
- Corporate Banking
- Business Banking
- Private Banking
- Investment Banking
There are a variety of banks, run by different organizations, for instance:
- Banks run by the private sector (meant to earn profits by providing financial services
- Banks regulated by the government
- Non-profit banks
Retail banking services are offered to individual clients and also to small-scale businesses. Several banks that provide such services are:
- Commercial bank
- Private banks
- Savings bank
- Postal savings banks
- Ethical banks
- Offshore banks
- Community development banks
- Building societies
- Community Banks
Investment banking facilities are designed mainly for corporate clients, and consist of underwriting services, advisory services, trade financing and so forth. These services are provided by the following banks:
- Merchant Banks
- Investment Banks
Apart from these, there are Islamic banks that are built on Islamic ideals and Islamic regulations. The rules and regulation are a bit differ from other banks.
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