Road to Retail Business of Ngb

Road to Retail Business

Introduction:

The most important and vital source of funding and business generation for any commercial bank are considered to be Retail Banking and Corporate Banking.

Historically seen over the decades, the banking industry had gone through many shifts and changes. The trends and spheres of the market are globally affecting the changes of the banking industry. The global and local focus of banking industry has been spotlighted towards Retail Banking recently because of risk free sourcing of fund mobilization and stable and steady business generation.

Retail Banking:

Retail banking refers to the division of a bank that deals directly with retail customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public, with bank branches located in abundance in most major cities. Banks that focus purely on retail clientele are relatively few, and most retail banking is conducted by separate divisions of banks, large and small. Customer deposits garnered by retail banking represent an extremely important source of funding for most banks.

Products and Services – Retail Banking

Retail banking encompasses a wide variety of products and services, including:

* Checking and savings accounts

* Certificates of Deposit and Investment Certificates 

* Mortgages on residential and investment properties

* Automobile financing

* Credit cards

* Lines of credit and personal credit products

* Home equity lines of credit

* Foreign currency and remittance services

* Stock brokerage (discount and full-service)

* Insurance

* Wealth management

* Priority banking

Retail Banking Vs. Corporate Banking:

Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers. Corporate banking is a key profit centres for most banks; however, as the biggest originator of customer loans, it is...