Banks can be classified into different categories based on their focus and services provided. Some of the categories of banks are ^{1 2}:

• Retail banks, which are the most common banks that people are familiar with.
• Commercial banks, which focus on business customers.
• Investment banks, which help businesses raise capital in financial markets.
• Private banks, which provide services exclusively to wealthy clients.
• Central banks, which manage the monetary system for a government.
• Thrift banks, which are defined in Republic Act (R.A.) No. 7653.
• Rural banks, which are defined in R.A. No. 7353.
• Cooperative banks, which are also known as Coop Banks.
• Islamic banks, which are defined in R.A. No. 6848.