Which of the following focuses on the financial needs of the institutional clients and the industry?

a. Universal Banking

b. Virtual Banking

c. Wholesale Banking

d. Retail Banking

ANSWER: Wholesale Banking

Explanation:

Wholesale banking is the provision of services by banks to organizations, such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.

Wholesale banks mainly engage in:

Finance wholesaling

Underwriting

Market making

Consultancy

Mergers and acquisitions

Fund management

Retail banking is also known as Consumer Banking is the provision of services by a bank to individual consumers.

The term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking.

It may also be used to refer to a division or department of a bank dealing with retail customers.

Typical products offered by a retail bank include:

Transactional accounts

Current accounts, Savings accounts

Debit cards, ATM cards, Credit cards

Traveler's cheque

Mortgages, personal loans

Home equity loans

Certificates of deposit/Term deposits