Question

The type of banking where, the major needs of the customers are understood by the bank and banking services are provided accordingly to the individual is called

• A. Retail banking
• B. Investment banking
• C. Relationship banking
• D. Private banking

Answer 1

Answer:

C. Relationship banking

Relationship Banking:

• Relationship banking is when banks offer many different products and services to meet the needs of loyal customers.
• In such a type of banking, the major needs of the customers are understood by the bank and accordingly banking services are provided to the individual.
• Loyal customers will be more devoted to their bank, more trusting and more willing to try out new products and services.
• A loyal customer base is a more profitable customer base.