BizTerm Definition
Branch
Full Definition

1. An ISO term. An office, either domestic or foreign, of a financial institution assigned to provide financial services on behalf of that financial institution. 2. An important organisational unit in a bank. Much data in an automated system are related to branches. These include departments, staff, devices, internal accounts, clients, accounts, etc. 3. An office of bank where customers and clients, in a broad sense of the word, are being served. 4. Branch is often used to describe all the branches of a foreign bank in a single country. The terms branch management and country management are used interchangeably. See also Dependent branch and independent branch.


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