What a âBismarck donutâ is depends on where you liveâ¦ I know that the definition is different in other places. In the midwest of the US, this is a Bismarck donut: Itâsâ¦ basically just a jelly doughnut. Round, filled with fruit jam, fried, topped with sugar or drizzled with icing sometimes. Also, this is a Bismarck pancake:
A banking system is a group or network of institutions that provide financial services for us. These institutions are responsible for operating a payment system, providing loans, taking deposits, and helping with investments.
Retail banking refers to the division of a bank that deals directly with retail customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public, with bank branches located in abundance in most major cities.