But it also triggered an explosion in retail lending.
So the banks are trying to get into retail lending.
The greatest promise lies in corporate and investment banking rather than in retail lending, where prices are set by Sberbank.
However, unwinding while returning to the pre-October 2008 regime of zero excess reserves and positive wholesale loans could lead to more adverse effects on retail lending.
Zopa, a leading player in this new field, now boasts more than 2% of the UK retail lending market.
Britain has already demanded a ring fence around banks' retail lending and deposit taking to protect them from risky investment banking.
This week IAC/InterActiveCorp, a struggling web conglomerate, said it would break itself into five separate companies, primarily so that its advertising-focused sites including Ask.com, another search engine, and Match.com, a dating site could be valued separately from the retailing, lending and ticketing sites.
I started at the bank as a management trainee in its retail commercial lending department.
LOS ANGELES, May 2 (AP) — The parent company of the Ameriquest Mortgage Company and Town and Country Credit said on Tuesday that it would close all of its 229 branch offices and lay off 3,800 employees nationwide as part of a plan to consolidate its retail mortgage lending operations.
BDO Unibank, Inc., formerly Banco de Oro Uni Bank Inc. (BDO), offers an array of products and services that include retail banking, lending (corporate, commercial, consumer and SME), treasury, trust, credit cards, corporate cash management and remittances.
In aggregate, its retail banks lend out more than they gather in deposits, making them reliant on wholesale funding from the wider financial system.What's more, ringfencing implies that the overseas activities of Britain's banks will be allowed to fry.
