What is retail banking?

[Good-Person]

Banks are the kind of financial institutes that help run the financial system in a country. Banks are used by many different kinds of financial organisations. However, as far as retail banks are concerned, they focus on serving and dealing with people in general. They do not focus much on dealing with big business organisations.

 

[Kane]

Banks offer financial services to businesses, governments, and individuals. Retail banking refers to the financial services offered by the banks to the consumers or individuals. It involves providing saving and credit facilities.