Private Bank

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Private Bank

1. A bank structured as a sole proprietorship or a partnership. That is, a private bank is any bank that is not a corporation. The proprietor or general partner of a private bank is personally liable for the bank's losses. Private banks are rare.

2. See: Private Banking.
References in classic literature ?
At Copenhagen, Private Bank. At Rio de Janeiro, Private Bank.
With 58 private banks serving High Net Worth Individual (HNWI) investors based in the region, the GCC market for private banking services is complex, fragmented and opaque, according to a recent study by Insight Discovery, a financial services research company, called Revealed - the mysterious world of private banking in the GCC, a supplement to Middle East Investment Panorama 2013.
The Global Private Banking Awards recognise and reward excellence in private banks from the Americas, Europe, Middle East and Asia according to qualitative and quantitative criteria.
"Competition between Taiwan's two top private banks remains fierce, with Chinatrust Commercial Bank leading the field in assets under management and client numbers in the higher wealth bands.
CBI adopted strict measures entangling private banks, expert BAGHDAD/ Aswat al-Iraq: Banking experts disclosed today that the Central Bank of Iraq (CBI) adopted strict measures that led to strangling the private banks, pointing the reforms need governmental support to change them from exchange offices into development establishments that will contribute to support Iraqi economy.
But the free enterprise attitude that prevails prompted the state to authorize private banks in the 1990s.
The Gulf Arab region, which includes Saudi Arabia, Kuwait and the UAE, together pump a significant share of the world's crude oil production, and global private banks have flocked to the region lured by the region's growing ranks of millionaires.
Summary: It is a tough road ahead for Iraqi private banks required to raise their capital to boost business as they battle against decades of state dominance to win a slice of the asset base from government-run enterprises.
Private banks and wealth managers are all scrambling to provide a cornucopia of innovative, attractive products and services, while emphasizing "value-added" opportunities and a high level of service, critical in the highly competitive business of private banking.
In order to better understand the money laundering issues related to private banking, it would be very useful to first provide you with some background information on what we consider to be private banking and the way in which private banks operate.
Local banks in the region have seen their wealthiest clients take their funds to international private banks. Now some are responding by developing their own services.
The result: private banks that pamper CEOs and others flush with cash.