Definition

1. Noun:
   • The banking industry: Refers to the entire system and all the companies involved in providing banking services. This includes commercial banks, investment banks, credit unions, and other financial institutions that manage deposits, loans, and other monetary transactions. It is the collective business of operating banks.

Usage Examples

• Noun:
  • The banking industry has undergone significant changes due to digital technology.
  • Regulations in the banking industry are designed to protect consumers.
  • She built a successful career in the banking industry.

Advanced Usage

• "The state of the banking industry": Used to describe the current economic or regulatory condition of the sector.
  • The report analyzes the current state of the banking industry.

Variants and Related Words

• Banking sector (n): A synonym often used interchangeably with "banking industry" to denote this area of the economy.
  • He works in the banking sector.
• Finance industry (n): A broader term that includes banking along with insurance, investment services, and other financial activities.
• Banker (n): A person who works in the banking industry.

Synonyms

• Banking sector: The segment of the economy devoted to banking.
• Financial services industry: A wider term encompassing banking, investment, and insurance services.

Related Phrases

• "To be employed in the banking industry": To have a job within this sector.
  • After graduation, she was employed in the banking industry.

Noun

1. banks collectively