Which of the following is NOT a type of primary bank?

Investment banks do not fit the definition of a primary bank, which generally refers to banks that provide essential banking services to the general public or businesses. Primary banks typically deal with everyday financial transactions, savings accounts, personal loans, and commercial lending.

In contrast, investment banks primarily focus on services related to capital markets. They specialize in underwriting new debt and equity securities for all types of corporations, assisting in selling securities, facilitating mergers and acquisitions, and providing advisory services for complex financial transactions. Their activities are aimed at larger institutions and corporations, rather than individual customers or small businesses, distinguishing them from commercial, retail, and clearing banks.

Commercial banks offer a broad array of financial services to both individuals and businesses, retail banks concentrate on consumer banking, and clearing banks facilitate the smooth processing of transactions between institutions. Thus, while all other options involve providing core banking services, investment banks operate in a distinctly different domain focused on high-level financial operations.