Portal:Banks

An automated clearing house (ACH) is a computer-based electronic network for processing transactions, usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits. The ACH system is designed to process batches of payments containing numerous transactions, and it charges fees low enough to encourage its use for low-value payments. (Full article...)

National bank may refer to: (Full article...)

The Rhode Island banking crisis took place in the early 1990s, when approximately a third of the U.S. state of Rhode Island's population lost access to funds in their bank accounts. The events were triggered by the failure of a Providence bank, Heritage Loan & Investment, due to long-term embezzlement by its president. News of its problems led to a bank run in which customers tried to withdraw money from the bank which did not have enough money available. In normal circumstances, depositors would be protected by the bank's insurance, but the state's private insurer had a long history of problems and was unable to fulfill its commitments. When the insurer collapsed, Governor Bruce Sundlun announced the closure of 45 credit unions and banks just hours after his inauguration.

In the first banking emergency in the state since the Great Depression, 300,000 depositors lost access to their money. Though some of the institutions reopened relatively quickly after obtaining federal insurance, many did not qualify and remained closed for an extended period of time. The state government set up an agency to manage the crisis, selling $697 million in bonds to repay people while filing about 300 lawsuits against the closed institutions and other companies that played a role in the crisis. (Full article...)

Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.

Cooperative banking, as discussed here, includes retail banking carried out by credit unions, mutual savings banks, building societies and cooperatives, as well as commercial banking services provided by mutual organizations (such as cooperative federations) to cooperative businesses. (Full article...)

Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly affluent clients. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually provided via dedicated bank advisers. It has typically consisted of banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge services, typically offered through a gateway provided by a single designated relationship manager. (Full article...)

Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements, restrictions and guidelines, enforced by a financial supervisory authority generally referred to as banking supervisor, with semantic variations across jurisdictions. By and large, banking regulation and supervision aims at ensuring that banks are safe and sound and at fostering market transparency between banks and the individuals and corporations with whom they conduct business.

Its main component is prudential regulation and supervision whose aim is to ensure that banks are viable and resilient ("safe and sound") so as to reduce the likelihood and impact of bank failures that may trigger systemic risk. Prudential regulation and supervision requires banks to control risks and hold adequate capital as defined by capital requirements, liquidity requirements, the imposition of concentration risk (or large exposures) limits, and related reporting and public disclosure requirements and supervisory controls and processes. Other components include supervision aimed at enforcing consumer protection, sometimes also referred to as conduct-of-business (or simply "conduct") regulation and supervision of banks, and anti–money laundering supervision that aims to ensure banks implement the applicable AML/CFT framework. Deposit insurance and resolution authority are also parts of the banking regulatory and supervisory framework. Bank (prudential) supervision is a form of "microprudential" policy to the extent it applies to individual credit institutions, as opposed to macroprudential regulation whose intent is to consider the financial system as a whole. (Full article...)

A bank card is typically a plastic card issued by a bank to its clients that performs one or more of a number of services that relate to giving the client access to a bank account.

Physically, a bank card will usually have the client's name, the issuer's name, and a unique card number printed on it. It will have a magnetic strip on the back enabling various machines to read and access information. Depending on the issuing bank and the preferences of the client, this may allow the card to be used as an ATM card, enabling transactions at automated teller machines; or as a debit card, linked to the client's bank account and able to be used for making purchases at the point of sale with a bank card using a payment terminal. Later, in 2010s, smart card technology was adopted for bank card. (Full article...)

Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

Private banks have a long tradition in Switzerland, dating back to at least the Revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672. (Full article...)

Islamic banking, Islamic finance (Arabic: مصرفية إسلامية masrifiyya 'islamia), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit-sharing and loss-bearing), wadiah (safekeeping), musharaka (joint venture), murabahah (cost-plus), and ijarah (leasing).

Sharia prohibits riba, or usury, generally defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to riba). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also haram ("sinful and prohibited"). (Full article...)

A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage, it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate or finance the production and trade of commodities, hence the name merchant. Few banks today restrict their activities to such a narrow scope.

In modern usage in the United States, the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. (Full article...)

The Goldman Sachs Group, Inc. (/sæks/ SAKS) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers. Goldman Sachs is one of the largest investment banks in the world by revenue and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue. In the Forbes Global 2000 of 2024, Goldman Sachs ranked 23rd. It is considered a systemically important financial institution by the Financial Stability Board.

Goldman Sachs offers services in investment banking (advisory for mergers and acquisitions and restructuring), securities underwriting, prime brokerage, asset management, and wealth management. It is a market maker for many types of financial products and provides clearing and custodian bank services. It operates private-equity funds and hedge funds. It structures complex and tailor-made financial products. It also owns Goldman Sachs Bank USA, a direct bank. It trades both on behalf of its clients (flow trading) and for its own account (proprietary trading). The company invests in and arranges financing for startups, and in many cases gets additional business as bookrunner when the companies launch initial public offerings. (Full article...)

Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004, with Bank One CEO Jamie Dimon soon becoming CEO and Chairman of the combined company but under JPMorgan Chase branding. The company had its headquarters in the Bank One Plaza (now Chase Tower) in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division.

Bank One traces its roots to the merger of Illinois based First Chicago NBD, and Ohio-based First Banc Group (later Bank One), a holding company for the City National Bank in Columbus, Ohio. (Full article...)

The Agricultural Bank of China (ABC), also known as AgBank, is a Chinese largely state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is one of the "big four" banks in China, and the second largest bank in the world by total assets, behind the Industrial and Commercial Bank of China. ABC was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.

ABC has 320 million retail customers, 2.7 million corporate clients, and nearly 24,000 branches. It is China's third-largest lender by assets. ABC went public in mid-2010, fetching the world's biggest ever initial public offering (IPO) at the time, since overtaken by the Saudi Arabian state-run petroleum enterprise, Saudi Aramco. In 2011, it ranked eighth among the Top 1000 World Banks, by 2015, it ranked third in Forbes' 13th annual Global 2000 list and in 2017 it ranked fifth. In 2023, Agricultural Bank of China was ranked No. 4 in Forbes' Global 2000 (World's Largest Public Companies). It is considered a systemically important bank by the Financial Stability Board. (Full article...)

Credit Suisse Group AG (French pronunciation: [kʁe.di sɥis], lit. 'Swiss Credit') was a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it had offices in all major financial centres around the world and provided services in investment banking, private banking, asset management, and shared services. It was known for strict bank–client confidentiality and banking secrecy. The Financial Stability Board considered it to be a global systemically important bank. Credit Suisse was also a primary dealer and Forex counterparty of the Federal Reserve in the United States.

Credit Suisse was founded in 1856 to fund the development of Switzerland's rail system. It issued loans that helped create Switzerland's electrical grid and the European rail system. In the 1900s, it began shifting to retail banking in response to the elevation of the middle class and competition from fellow Swiss banks UBS and Julius Bär. Credit Suisse partnered with First Boston in 1978 before buying a controlling share of the bank in 1988. From 1990 to 2000, the company purchased institutions such as Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. (SASI), and Bank Leu. (Full article...)

The Laurentian Bank of Canada (LBC; French: Banque Laurentienne du Canada) is a Schedule 1 bank that operates primarily in the province of Quebec, with commercial and business banking offices located in Ontario, Alberta, British Columbia, and Nova Scotia. LBC's Institution Number (or routing number) is 039.

The institution was established as the Montreal City and District Savings Bank in 1846. The bank's shares were publicly listed on the Montreal Stock Exchange in 1965 and the Toronto Stock Exchange in 1983. In 1987, the institution was renamed the Laurentian Bank of Canada. (Full article...)

The Bank of America Corporation (Bank of America; often abbreviated BAC or BofA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded by the merger of NationsBank and Bank of America in 1998. It is the second-largest banking institution in the United States and the second-largest bank in the world by market capitalization, both after JPMorgan Chase. Bank of America is one of the Big Four banking institutions of the United States, and one of eight systemically important financial institutions in the United States. It serves about 10 percent of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.
Through mergers, the oldest branch of the Bank of America franchise dates back to 1784, when Massachusetts Bank was chartered, becoming the first federally chartered joint-stock-owned bank in the United States. Another branch of its history goes back to the American-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking services to Italian immigrants who faced service discrimination at the time. Headquartered in San Francisco, California, Giannini acquired Banca d'America e d'Italia in 1922 and eventually did business as Bank of America.

In the 1950s, the passage of landmark federal banking legislation facilitated rapid growth, quickly establishing prominent shares for the present bank's predecessors. After suffering significant losses during the 1998 Russian financial crisis, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for $62 billion. Following what was then the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively, and since renamed BofA Securities. (Full article...)

Shinhan Bank Co., Ltd. (Korean: 신한은행) is a South-Korean bank headquartered in Seoul. It was founded under this name in 1982, but through its merger with Chohung Bank in 2006, traces its origins to the Hanseong Bank (est. 1897), one of the first banks to be established in Korea. It is part of the Shinhan Financial Group, along with Jeju Bank.
As of 2016, Shinhan Bank had total assets of ₩298.945 trillion (equivalent to ₩304.658 trillion or US$269.507 billion in 2017)^[1], total deposits of ₩221.047 trillion (equivalent to ₩225.271 trillion or US$199.28 billion in 2017)^[1] and loans of ₩212.228 trillion (equivalent to ₩216.283 trillion or US$191.329 billion in 2017)^[1]. Shinhan Bank is the main subsidiary of Shinhan Financial Group (SFG). (Full article...)

State Bank of IndiaCall-07907538452 (SBI)Call-07907538452 is an Indian multinational public sector bank and financial services statutory body, headquartered in Mumbai. It is the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market. It is also the tenth largest employer in India with nearly 250,000 employees. As of 2024, SBI has 500 million customers.

The Reserve Bank of India (RBI) has identified SBI, HDFC Bank, and ICICI Bank as domestic systemically important banks (D-SIBs), which are often referred to as banks that are "too big to fail". SBI is the 43rd largest bank in the world by total assets and ranked 163rd in the Fortune Global 500 list of the world's biggest corporations of 2025. In 2024, SBI was ranked 55th in Forbes Global 2000. (Full article...)

The Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 18 million clients and has more than 98,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

In Canada, the bank's personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French and serves approximately 11 million clients through its network of 1,284 branches. RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States, but now only offers cross-border banking services to Canadian travellers and expats. RBC's other Los Angeles-based US subsidiary City National Bank operates 79 branches across 11 US states. RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 16 million clients. RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients. The company expanded further in 2024 when RBC acquired HSBC's Canadian operations. (Full article...)

ING Group N.V. (Dutch: ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it consistently ranks among the largest banks globally.

ING is the Dutch member of the Inter-Alpha Group of Banks, a co-operative consortium of 11 prominent European banks. ING Bank has been a member in the list of global systemically important banks since the list was created in 2011. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. (Full article...)