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English definition of “private banking”

private banking

noun [U]    
BANKING financial services and advice that are offered to a bank's richest customers , for example on how to invest their money : The group's private banking arm reported a 3% rise in operating income . The bank is keen to develop its " wealth management business " - private banking and asset management . private banking operations / services
(Definition of private banking noun from the Cambridge Business English Dictionary © Cambridge University Press)
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