RETAIL BANKING - MEANING FEATURES | CORPORATE BANKING - OVERVIEW OF ITS PRODUCTS

Retail banking, also known as consumer banking or personal banking, is a form of banking that provides financial services to individual consumers rather than businesses.

Retail banks offer a wide range of services to the general public, such as bank accounts, fixed deposits, credit and debit cards, loans, etc. These services help people efficiently manage their finances. Retail banking services, like deposits and withdrawals, can be done both online and at the bank branch. 

Features of Retail Banking

• Retail banking services are tailored to each person's interests
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• Retail banks provide a broad range of services to the general public
• Deposits and withdrawals can be made for retail banking services both online and in a bank location
  
  
• Retail banking is intended to help consumers manage their money by giving them access to basic banking services, a source of credit, and a way to deposit their funds in a secure manner
  
  
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Significance of Corporate Banking

Corporate banking is a type of banking that deals with corporate customers, including large companies, small and medium-sized enterprises (SMEs), and government entities

Corporate banking is significant because it provides a range of financial services to these customers, such as loans, trade finance, cash management, and investment banking services

Corporate banking is also important because it helps to drive economic growth by providing businesses with the capital they need to expand and create jobs

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Overview of Corporate Banking Products

Corporate banking products include:

• Loans: Corporate banks provide loans to businesses for various purposes, such as working capital, capital expenditures, and project finance
  
  
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• Trade Finance: Corporate banks provide trade finance services to businesses engaged in international trade, such as letters of credit, guarantees, and documentary collections
  
  
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• Cash Management: Corporate banks provide cash management services to businesses to help them manage their cash flows, such as account management, payment processing, and liquidity management
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• Investment Banking Services: Corporate banks provide investment banking services to businesses, such as underwriting, mergers and acquisitions, and securities trading