Question

Assignment

Retail or personal banking relates to financial services provided to consumers and is usually small-scale in nature. Typically, all large banks offer a broad range of personal banking services, including payments services (current account with cheque facilities, credit transfers, standing orders, direct debits and plastic cards), savings, loans, mortgages, insurance, pensions and other services (these services have been reviewed in Section 2.4). A variety of different types of banks offers personal banking services. These include:

● commercial banks;

● savings banks;

● co-operative banks;

● building societies;

● credit unions;

● finance houses.

Choose an International Bank, HSBC Bank specifically, and describe the retail and personal banking in this bank.

Answer 1

HSBC is the 7th largest bank in the world by 2018.It is the largest in Europe.It traces its origin to Hongkong.HSBC is organised within four business groups, Commercial banking, Investment banking ,Retail Banking and Wealth Management and Global Private Banking.  Retail banking is a way for individual customers to manage their money , have access to credit as well as keep their money secure and safe.Services offered by retail banks include checking and savings account, mortgages ,personal loans , credit cards ,and certificates of deposit.HSBC coducts long term relationship with its customers.HSBC offers easy to understand personal banking services such as current accounts ,loans and savings products to customers in key markets around the world .