TYPES OF BANKS
by DollarBillionaire™High-Performance Individuals understand banking and the various types of banks that exist. Here we define the various Types of Banks that exist and give a broad summary overview of how these banks operate.
TYPES OF BANKS
In this Teaching Document, you will find the DollarBillionaire ™ Guidance Notes on the various Types of Banks.
Written by Barron Hall. Revised and Updated Friday 23 August 2019.
Table of Contents: [toc]
Definitions of the Various Forms of Banks
DollarBillionaire™ is pleased to present to you clear and concise up-to-date definitions of all of the major bank types found in the world as of 2019. These definitions were created by Barron Hall for the use of our Wealth Creation Mentees. They also form a useful reference for anyone interested in the Banking World of 2019.
Retail Banking Definition
Commercial Banking Definition
Investment Banking Definition
Merchant Banking Definition
Types of Banks
Over the centuries the world of banking has evolved many varied forms of banking. Some of the forms of banking are so similar that it is difficult to tell them apart. Investment Banks and Merchant Banks, for example, are very much the same, and yet they are different in some subtle ways. Retail Banks and Commercial Banks are indeed exactly the same types of financial entities.
For the High-performance Individual, it is extremely valuable to be aware of these differences amongst bank types. Banks are there to serve a purpose. These purposes always revolve around the use and transfer of money and the creation and protection of wealth. High-performance Individuals need to know which type of bank to reach for in any given situation.
Top banks include JPMorgan Chase, Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley, and Citibank.
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Graphic: Types of Banks
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