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According to my research on our friendly world wide web i found out that,

Investment banks: Are those banks which raise money by selling securities to other companies and government. At present (since Lehman brothers & Merill Lynch are out of picture) Goldman sachs and Morgan Stanley are largest investment banks in USA.

Retail banks: Are those banks which directly deal with customers. It deals with savings account, checking account, personal loans etc

Commercial banks: Take deposits and gives loan to corporations. Bank of America is the largest commercial bank.

Universal banks: are banks that participate in activities of commercial banks as well as investment banks. Bank of America is an universal bank

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14y ago

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