RETAIL BANKING CONCEPT FROM A FORMAL PERSPECTIVE

Abstract

Expressions like “retail banking”, “retail banking products”, “retail banking services” have become very widespread in recent years in the banking environment, the media, the scientific literature, etc. In addition, such phrases are more and more often found in normative acts. However, there is no definite understanding of those terms. In literature, in order to define the phenomenon, various general and evasive features are used. At the same time, for accounting, taxation, reporting, statistics, but especially for prudential regulation, an exact delimitation of retail banking is necessary. This article is dedicated to an overview of the existing views on the notion of “retail banking” and its clarification from a formal point of view.

Keywords

• retail products
• retail services
• retail banking
• retail customers
• deposits
• loans
• payment services