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Types of investment banks

- Investment banks "underwrite" (guarantee the sale of) stock and bond
issues, trade for their own accounts, make markets, and advise corporations
on capital markets activities such as mergers and acquisitions.
- Merchant banks were traditionally banks which engaged in trade
financing. The modern definition, however, refers to banks which provide
capital to firms in the form of shares rather than loans. Unlike Venture
capital firms, they tend not to invest in new companies.

Both combined

- Universal banks, more commonly known as a financial services
company, engage in several of these activities. For example, First Bank (a
very large bank) is involved in commercial and retail lending, and its
subsidiaries in tax-havens offer offshore banking services to customers in
other countries. Other large financial institutions are similarly
diversified and engage in multiple activities. In Europe and Asia, big banks
are very diversified groups that, among other services, also distribute
insurance, hence the term bancassurance is the term used to describe the
sale of insurance products in a bank. The word is a combination of "banque
or bank" and "assurance" signifying that both banking and insurance are
provided by the same corporate entity.

Other types of banks

Islamic Banking

- Islamic banks adhere to the concepts of Islamic law. Islamic banking
revolves around several well established concepts which are based on Islamic
canons. Since the concept of interest is forbidden in Islam, all banking
activities must avoid interest. Instead of interest, the bank earns profit
(mark-up) and fees on financing facilities that it extends to the customers.
Also, deposit makers earn a share of the bank's profit as opposed to a
predetermined interest.[*citation needed*]
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