adjective
- not involving or relating to a bank or banking institution
Usage: finance
noun
- a financial institution that provides banking services but is not legally classified as a bank
Usage: finance
Examples
- The company sought nonbank financing for its expansion.
- Credit unions are considered nonbank financial institutions.
- Many nonbank lenders offer competitive mortgage rates.
- The nonbank sector has grown significantly in recent years.
- Regulators are monitoring nonbank activities more closely.
- Investment firms often operate as nonbank entities.