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Types of banks, Functioning , Interview Tips of Bank Selection

Below are the some common banks type. These are very important from interview point since they are asked in many bank recruitment and promotion interview of Bank PO's and Clerks.

Type of Retail Banks

* Commercial bank: the term used for a normal bank to distinguish it from an Investment Banks After the Great Depression, the U.S. Congress required that banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term “commercial bank” to refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses.

* Community Banks: locally operated financial institutions that empower employees to make local decisions to serve their customers and the partners
* Community development banks: regulated banks that provide financial services and credit to under-served markets or populations.
* Postal savings banks: savings banks associated with national postal systems.
* Private banks: manage the assets of high net worth individuals.
* Offshore banks: banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks.
* Savings bank: in Europe, savings banks take their roots in the 19th or sometimes even 18th century. Their original objective was to provide easily accessible savings products to all strata of the population. In some countries, savings banks were created on public initiative, while in others socially committed individuals created foundations to put in place the necessary infrastructure. Nowadays, European savings banks have kept their focus on retail banking: payments, savings products, credits and insurances for individuals or small and medium-sized enterprises. Apart from this retail focus, they also differ from commercial banks by their broadly decentralised distribution network, providing local and regional outreach and by their socially responsible approach to business and society.

* Building societies and Landesbanks: conduct retail banking.

* Ethical banks: banks that prioritize the transparency of all
operations and make only what they consider to be socially-responsible investments.

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