A retail bank is a financial institution that offers services directly to individual consumers and small businesses. These services typically include checking and savings accounts, personal loans, mortgages, and credit cards. Retail banks aim to meet the everyday banking needs of their customers, providing a convenient way to manage money. Retail banks often have physical branches where customers can conduct transactions in person, as well as online and mobile banking options for added convenience. They play a crucial role in the economy by facilitating savings and providing credit, which helps individuals and businesses grow financially.