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retail banking UK US noun [U] (also consumer banking)
► BANKING the activities of banks that provide services to the public and to small businesses rather than to large companies and organizations: »
Growth in the company's core retail banking business has slowed.
»Competition in German retail banking is increasing rapidly.
→ Compare COMMERCIAL BANKING(Cf. ↑commercial banking), INVESTMENT BANKING(Cf. ↑investment banking), PRIVATE BANKING(Cf. ↑private banking)
Financial and business terms. 2012.