RETAIL BANKING

Reading 1: Commercial and Investment Banking

1. Read the text and explain in your own words what Lewis is saying about:

Answer:

- Commercial Banker
Commercial bank is a type of financial institution that accepts deposits, offers checking
account services, makes various loans, and offers basic financial products like certificates
of deposit (CDs) and savings accounts to individuals and small businesses.
- Investment Banker
Investment banker is an individual who often works as part of a financial institution and
is primarily concerned with raising capital for corporations, governments or other
entities.

2. Find words or pharases in the text that mean the following:

 to separate = apart, stripped.
 generally considered to be = reputed.
 didn’t want to cause trouble for other people = meant no harm.
 a big hierarchy of directors and managers = someone higher up in an endless chain of
command.
 special; different from other people = possessed vast, almost unimaginable.
 extremely big = ambition.

Discussion

Which area would you prefer to work in – commercial banking or investment banking? Why?

Answer:
Investment banking. Because, a career in investment banking is more competitive, tends to pay
more and is seen as more glamorous than a career in commercial banking. Investment bank tend
to be more selective of their candidates and demanding of their employees, many of whom are
high-level analysts. That said each patch can result in a rewarding, long-lasting, and high-earning
career.