Types of Banks There are many different types of banks: retail
banks, investment banks, savings banks, commercial banks, online
banks, universal banks, Islamic banks, central banks, and
others. Different types of banks specialize in different lines
of business. Banks come with a variety of names and one bank can
function as several different types of banks. A retail bank is a
bank that works with consumers, otherwise known as retail
customers. They focus on mass market products such as current
and savings accounts, mortgages and other loans, and credit
cards. In addition to helping consumers, retail banks often
serve businesses as well - so they can also serve as commercial
banks. Types of retail banks: • Commercial bank: the term used
for a normal bank to distinguish it from an investment bank.
Commercial banking may also be seen as distinct from retail
banking, which involves the provision of financial services
direct to consumers. Many banks offer both commercial and retail
banking services. The central ba