Definition of universal bank

A universal bank is a financial service conglomerate combining retail, wholesale and investment banking services under one roof and reaping synergies between them. [1]

The notion is that they would benefit from economies of scale in information technology and access to capital to serve companies and retail customers around the world.

Examples

Examples of universal banks include JPMorgan Chase, Bank of America Merrill Lynch and Barclays. [2]

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