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Retail Banking Essay

924 Words4 Pages

Now we have to understand the meaning of the retail banking as a kind of the bank credit services designed for individual customers, according to (NAGAR, MASIH, & BADUGU, 2011) the retail banking includes all services for individuals like deposit loans, credit cards, debit cards, mutual funds, and insurance products and all credit products and services which meet their constant needs.
(Croxford, Abramson, & Jablonowski, 2005) The retail banking with new technology which helps the banks to manage the retail banking services with this large number of retail banking customers, the varied services which are offered by the banks with this efficiency lead customer to trust the bank and rely on these services.
(Dedu & Enciu, 2009) defines the consumer …show more content…

So the most important characteristics of Retail Banking can be summarized in multiple products, multiple channels and multiple customer groups as (NAGAR, MASIH, & BADUGU, 2011) mentioned that the retail banking represents the chances of investment to gain earnings, and the retail services have met almost all customers ' needs. Retail banking is characterized by three fundamental qualities, the first one the products, with numerous products like term deposits, credit and debit cards, insurance services and securities. The second one is the channels, with numerous channels of distribution such as call center, branches and internet. The third one is the customers, with numerous customer groups like individual consumer, small business and corporate …show more content…

Retail Banking Features: (Rao, 2014) Explains the main feature of retail banking which is centered around reducing the risk through distribution risk to the largest number of individuals rather than focusing the risk on a few companies. With this feature in Retail Banking, banks need to have high efficiency to manage this large portfolio of financial and banking services.
2.2.4. Types of Borrowers According to (APOSTOLIK, DONOHUE, & WENT, 2009) the main borrowers types in the banks include Retail borrowers, Corporate borrowers, Sovereign Borrowers and Public borrowers. For our research we will focus on the retail borrowers (individuals). This type of borrowers use the loan to purchase goods, mortgage or vehicle or to perform their financial obligations. Retail borrowers are characterized by the high income with low level of debt and less risky compared to the rest of the other borrowers.
(Dedu & Enciu, 2009) Refer to that, the developed societies have high ratio to get retail products fittingly with their income and the country’s monetary

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