What does BANC mean in Business?
This page is about the meanings of the acronym/abbreviation/shorthand BANC in the field in general and in the Business terminology in particular.
Business Application Network Consulting
Submitted by S4Bot on September 25, 2019
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Definition
What does BANC mean?
- banc(Noun)
- Marketing slang (chiefly in USA) for the non-banking arms of a financial conglomerate that has "Bank" in its common name. For instance, if the original company was known as Bank of Manhattan, then its insurance business might be known as "Banc of Manhattan Insurance". It is a term of art, a meaningless word, that is meant to suggest the safety and soundness of a bank, without any actual representation of safety or soundness so that they are free to offer risky products without running afoul of false advertising laws.
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"BANC." Abbreviations.com. STANDS4 LLC, 2024. Web. 22 Nov. 2024. <https://www.abbreviations.com/term/2152414>.
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