This study focuses on factors contributing to the development of the retail banking services (RBS) in Hanoi, Vietnam. A four factor model is established, corresponding to four hypotheses in this paper. Based on a sample size of 615 customers and through a multiple regression analysis, results show that IT infrastructure - service channels and tangibles are factors contributing to the development of the RBS in Hanoi, Vietnam. This result suggests that customers care about the convenience, speed and quality of serving of banking staff. Therefore, banks should always focus on upgrading IT infrastructure and online trading system; in addition, they often have to improve facilities in workplace, professional services and marketing, etc. The paper provides several implications to practitioners and suggestions for further studies.