Various Types Of International Banking Offices

Further the substance in charge of supervising the money related framework for a country (or gathering of countries). National banks have an extensive variety of obligations, from managing financial approach to executing particular objectives, for example, cash steadiness, low expansion and full business. National banks additionally by and large issue money, capacity as the bank of the administration, control the credit framework, regulate business banks, oversee trade saves and go about as a loan specialist of final resort.

"It (the Second Bank) enjoys an exclusive privilege of banking under the authority of the General Government, a monopoly of its favor and support, and, as a necessary consequence, almost a monopoly of the foreign and domestic exchange" (Hofstadte 291).

Commonwealth bank competes with foreign banks, building societies, mutual banks and smaller regional banks. Growing innovation and technological advancements has lead to increased emergence of new competitors and competition within the Australian banking and financial services sector.

The United States has some of the largest financial markets worldwide (Commerce.gov, n.d.). These financial services, aid, in the financing of manufactured goods and agricultural products which are exported (Commerce.gov, n.d.). There are several advantages for investment in the financial services of the United States (Commerce.gov, n.d.).

1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.

There are various categories of banking; these include retail banking, directly dealing with small businesses and persons. Commercial and Corporate banking which offers services to medium and large businesses (Koch & MacDonald 2010). Private banking, deals with individuals, offering them one on one service. The last category is investment banking. These help clients to raise capital and often invest in financial markets. Most global banking institutions provide all these services combined. With all these institutions in existence within the same localities and offering similar services, there is a need to regulate the industry so as to protect the consumer and provide fair working environment for all banks (Du & Girma, 2011).

“ Our mission is to be a Premier Bank in the Asia- Pacific region, committed to providing Quality Products and Excellent Customer Service.”

Thus, each bank needs to differentiate their product offers to customer, strengthen their portfolio, and improve services, etc depending on its strategies.

1. Personal Promotion: The bank marketer gets opportunity to tangibilise the product through personal selling; persuasion is more effective with direct contact. It helps in creating impulse buying.

“We aim to become a super regional bank. This involves growing our presence in the Asia pacific region and sourcing 25-30% of earnings from our Asia Pacific Europe and America division by 2017, while also being very focused on growth in our core domestic businesses in Australia and New Zealand.”

In the early 1990s, SCB has focused on emerging its strong franchises in Asia, Africa and the Middle East. Management concentrates on institutional, corporate and consumer banking and on treasury services – areas in which it has particular strength and expertise. The series of acquisitions that would increase SCB position in the emerging markets industry. Since 2000 the bank has accomplished a number of strategic alliances and acquisitions, which have expanded the customer and geographic reach and widened the product ranges (Sc.com,

Lately, the international financial integration has increased. Over the years, the world economy has witnessed an increase in the number of individuals and businesses using international banking services. In today’s competitive global economy banks have the option to solely service their home market, to export services to foreign markets, or to establish a presence in that market. Essentially, banks have two options of expanding their operations in foreign markets. They can either service foreign clients through their domestic offices or they can establish a presence in the foreign markets. In general, the reasons for bank internationalization in

As financial institutions, retail banks are supervised by the central bank; also known as the bank of England, which determines the economy of the UK. There are several monetary policies on the retail banking industry.

Banks with subsidiaries tend to specialize in a unique way, the parent bank tends to specialize in numerous areas, their subsidiaries are structured to specialize in certain fields. For instance in Luxemburg, parent banks tend to specialize in interbank lending whilst their subsidiaries have seen interbank activities falling and an increase in customer loans. Facts such as this need to be considered for financial analysis.8

Offshore banking is the action of having a bank account outside of the country of residence. Typically it offers many advantages like greater privacy, low or no taxation, easy access to deposits and protection against local, political, or financial instability, but has also been popular for its use of illegal practices like money laundering and tax evasion. Those against offshore banking view its illegal reputation and predict that it will only cause further damage like providing fund for terrorism or holding underground economies. However other experts believe that offshore banking is a safe haven for depositors and has had a substantial impact on the international economy in today’s world.