The evolving landscape of the banking sector has prompted a critical examination of banking business models (BBMs) and their role in fostering sustainable development. This chapter discusses the role of BBMs in advancing sustainable development. It begins by exploring traditional and emerging BBMs, including investment banking, digital banking, Islamic banking, and sustainable banking. The chapter then delves into the concept of sustainable development, highlighting some policies such as the Sustainable Development Goals (SDGs). It discusses how BBMs can promote sustainability through green financing; environmental, social, and governance (ESG) criteria incorporation; innovation; inclusive finance; and strategic partnerships. Despite these contributions, challenges such as short-term profit focus, geographic constraints, and alignment with sustainability goals persist. The chapter concludes by identifying some opportunities for banks who adopt BBMs that support sustainable development such as emphasizing the importance of supportive policies, increased awareness, and collaborative efforts between multilateral development banks (MDBs) and domestic banks.