Vähittäispankit

Vähittäispankit, known in English as retail banks, are financial institutions that provide a wide range of services to individual consumers and small businesses. These services typically include checking and savings accounts, personal loans, mortgages, credit cards, and investment products. Unlike investment banks that focus on corporate finance and capital markets, vähittäispankit cater to the everyday financial needs of the general public. They operate through a network of branches, ATMs, and increasingly, online and mobile banking platforms. The primary goal of a vähittäispankki is to generate profit through interest rate spreads, fees for services, and the sale of financial products. They play a crucial role in the economy by facilitating savings, providing credit for consumption and investment, and offering payment services. Regulation of vähittäispankit is generally strict to ensure consumer protection and financial stability. They are a cornerstone of the financial system, making banking accessible to a broad population.