banking sector
[ˈbæŋkɪŋ ˈsɛktər]
nounpl: banking sectors
setor bancário
1. The part of the financial industry that deals with deposit-taking, lending, payment processing, and other financial services provided by banks and credit institutions
The banking sector plays a crucial role in the country's economic development.
O setor bancário desempenha um papel crucial no desenvolvimento econômico do país.
2. All banks and financial institutions collectively that operate within a specific geographic region or economy
The banking sector faced significant challenges during the financial crisis.
O setor bancário enfrentou desafios significativos durante a crise financeira.
3. The industry segment encompassing commercial banks, investment banks, central banks, and other credit institutions
Regulation of the banking sector is essential for financial stability.
A regulação do setor bancário é essencial para a estabilidade financeira.
In Brazil, the banking sector is highly developed and concentrated, with major institutions like Banco do Brasil, Caixa Econômica Federal, Bradesco, and Itaú dominating. The term 'setor bancário' is widely used in economic discussions, news reports, and government policy. The sector is crucial to Brazil's economy and is heavily regulated by the Central Bank (Banco Central do Brasil) and the Brazilian Securities Commission (CVM).
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