An enterprise such as a bank whose primary business and function is to collect money from the public and invest it in financial assets such as stocks and bonds. Bloomberg Financial Dictionary
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financial institution UK US noun [C] FINANCE, BANKING, INSURANCE
► a company that provides financial services, for example, a bank, an insurance company, or an investment fund: »
How do credit unions differ from banks and other financial institutions?
Financial and business terms. 2012.