What is the difference between retail banking and corporate banking? And what are each department's objectives?

Retail banking= Peronnal banking 

Corporate banking= Business banking 

There are many differences between retail banking and corporate banking, however, to highlight the a few main points. Retail banks are those banks that deal directly with the customers and their main source of income being customer deposits, Retail banking is the visible face of banking to general public. 

while corporate banking also known as business banking deals with business or corporate clients, their main source of income being regular write downs and interest charged on customer loans. 

the objective as follows:- 

retail banking main services and objectives are attracting new customers to open savings account, provide mortgages, loans and check lines of credit to loans provided to customers. 

 corporate banking main services are loans and credit services to corporate, treasury and cash management services, equipment lending and trade finance. 

Corporate banking = different accounting method , corporate clients with much higher assets, 

retail banking = general public like me and you with much less assets than a corporation more convenience option is available,

 Retail Banking are for dealing with Individual Customers Corporate Banking are for delaing with Companies account.

Retail Banking mainly focuses on offering mainstream banking services to mass individuals. Services such opening savings / current accounts / FDs and small ticket loans such as home loans, vehicle loans, personal loans, foreign exchange services etc form a part of the reatil banking. In this form of banking the banks which offer good customer service lead the market. 

Whereas Corporate Banking mainly focuses on offering customized services to few corporate houses. These services could include providing term loans and working capital loans, derivative limits, foreign currency loans, swaps and other services as per the needs and cash flow pattern of the client within the central bank's framework. The ticket size of such products and services is very large when compared to retail customers.

Retail banking deals with individuals also called consumer banking. Corporate banking deals with companies etc.

Retail Banking is also known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, Banking services which are regarded as retail include provision of savings and transactional accounts. ,while corporate Banking  is all about providing a range of tailored banking services, in particular loans, to companies (rather than people) to help them run their day-to- day operations. 

Retail Banking targets individuals including mass, affluent, and VIP clients and in some banks it includes SMEs as well, while Corporate Banking targets corproate relationships offering them all corporate banking requirements (Cash management, financing , trade finance, working capital, Project financing ..) 

retail banking is a form of bank . where transction is done with indivial person while corporate banking is done with corporates

Retail banking is always dealing with individual customers whereas the corporate banking is handling all SME and large corporate accounts.

I am fully agreed with views of Vareena Vaaz.