Retail Business Development Strategy Research Of China CITIC Bank ChangChun Branch

Since early of this century,by the fast developmeSince the beginning of this century, the rapid increase of national economy and the continuous accumulation of individual wealth provide board space for the retail business development of Chinese commercial banks. The rapid development of capital market, the limitation of capital adequacy ratio and the competition of foreign-capital bank, etc have also formed external pressure for the transformation from commercial bank to retail bank. The domestic commercial banks successively propose the strategy goal to transform to retail bank. Although the importance of retail business has been realized, there isn't effective strategic guidance on how to develop retail business. This article makes research on the advantages, disadvantages, opportunities and threats in the retail business development of China CITIC Bank Changchun Branch based on the analysis of the bank development at home and abroad and the comprehensive understanding of the current situation of retail business of CITIC Bank with the SWOT analysis method. Comprehensive strategic solutions and suggestions in the organizational structure, core business, marketing management, customer service and assessment appraisal system of the retail business development are proposed for CITIC Bank Changchun Branch.The Chapter One of this article- the Preface, briefly introduces the situations of CITIC Bank and CITIC Bank Changchun Branch, and then explains the research background of the topic. After China's entry into the WTO, the retail business has become the development priority of every bank. With the establishment of the different banks, the competition in the local retail bank market is much intensified. While there are many problems in the retail business of Chinese commercial banks ever since a long time ago: such as the backward operation concept, unitary product category, unclear marketing strategy and backward service and customer relation management…As the newcome joint-stock commercial bank in local market, CITIC Changchun Branch has also focused on the retail business development, therefore the formulation of clear strategic goal, determination of clear market positioning, organization structure, human resource, customer and market development strategy, and the core business development strategy are of great importance.The Chapter Two analyzes the development history and current situation of the retail business of domestic and foreign banks, and summarizes the development strategy characteristics of the retail business of joint-stock banks: firstly emphasize the customer-oriented concept and differentiated service; secondly adjust the organization structure and transform the controlling process; thirdly innovate the product system and increase the customer experience; fourthly emphasize the channel construction; fifthly gradually perfect the training system and build high-level customer manager team. The above has provided guidance for the formulation of retail business development strategy of the CITIC Changchun Branch.The Chapter Three analyzes the whole development situation of the retail business of CITIC Bank. The savings deposit, retail loan, wealth management, personal bank and credit business of the CITIC Bank have been on the rise in recent years. The combination of line and function system with divisional system in the organizational structure, the brand system composed of the liability business brand"Financial Planning Tool", the assets business"CITIC Happy Family", the financial planning service"VIP Financial Planning", the overseas financial brand"Overseas Whole-Process Financial Tool", the electronic bank"CITIC E-bank", etc have laid solid foundation for the retail business development of the CITIC Changchun Branch.The Chapter Fourth makes competitive analysis on the retail business of CITIC Changchun Branch with the Five-force Model by Porter based on the analysis on the local economic environment and market situations, and reaches the following conclusions: CITIC Changchun Branch is the newcome in the competition, and the main competitors are the four state-owned banks and medium and small sized joint-stock banks that have existed in the local market. Late as it is, it will have great appeal to certain customers with the advantageous retail products and flexible mechanism. Therefore CITIC Changchun Branch shall build confidence, establish the superior brand in retail business with the advantageous retail products and the active development of the segment market, in order to take the lead in the much more intense competition.The internal and external factors in the retail business development of CITIC Changchun Branch are analyzed with SWOT analysis method, and SWOT matrix analysis is made to formulate the strategic proposal according to the four aspects of opportunities, threats, advantages and disadvantages after the external opportunities and threats and internal advantages and disadvantages are located. On this basis, the development strategy and market positioning of the retail business of CITIC Changchun Branch are determined.According to the SWOT analysis on the retail business of CITIC Changchun Branch, the branch has brand, service and talent advantages in the retail business. The branch shall integrate various resources with the product advantages and marketing channels based on the reasonable organizational structure and perfect appraisal system of retail business management in order to form stronger core competitiveness.The strategic goal of the retail business of CITIC Changchun Branch: take the lead in the product, service and channel in the local retail bank business, form the largest influence among the local high-end customers in the financial planning, overseas finance and personal credit brand.The market positioning of the retail business of CITIC Changchun Branch: provide high-quality and personalized financial service for the local middle class and wealthy group in the core business fields of retail bank such as individual financial planning, overseas finance and personal credit, etc.The Chapter Five proposes suggestions in nine aspects in order to guarantee the smooth implementation of the retail business development strategy of CITIC Changchun Branch: firstly, in the organizational structure, establish three second-level departments subordinate to the Retail Banking Department, that is, the Personal Credit Department, VIP Financial Planning Department and Marketing Department to take charge of the management of personal credit business, financial planning business and channel marketing, and meanwhile establish professional personal credit team, financial planning team, overseas finance team and channel marketing team to be responsible for the business marketing. Secondly in the human resources, establish compound customer manager team. Implement the hierarchical management for the customer managers. Divide the customer managers into different levels according to the total assets managed by the customer manager; the level of the customer manager matches the corresponding administrative level. Thirdly in the customer development, start the three phases of customer accumulation, customer operation and customer appreciation at the same time and carry out the integrated customer development strategy. Fourthly, in the market strategy, carry out the market strategy of"Three Aspects and Four Promotions". Fifthly put forward specific suggestions on the core business development such as personal credit, financial planning and overseas finance. Sixthly in the marketing management, give full display to the teamwork, increase the sales volume of the directing marketing of the group and promote the electronic bank actively through the increase of branches and reasonable planning of outlet functional areas, make full use of the sales function of the electronic bank to develop channel marketing; include the sales index of the retail products into the appraisal system for the customer manager of corporate business, carry out combined marketing and cross marketing. Seventhly in the aspect of service, suggestions are made on two aspects of on-site service and management of customer relationship. Eighthly as for the development of personal bank, suggestions are put forward on several aspects such as the service target, service mode, service content, service scope, service staff quality and service location. Ninthly in the appraisal evaluation, it is suggested to mainly appraise the management assets, establish the unified customer manager appraisal system with the funds transfer pricing system, include the retail business into the staff appraisal of the whole bank, and focus on the establishment of long-term index.Andrew Grove said in the Only the Paranoid Survive:"It is important to follow the strategic action after the determination of strategic direction, the strategic direction is only oral words, only the strategic action is the real action, which will be related to the re-allocation of the resources."Therefore the strategic research in this article can only provide reference for the CITIC Changchun Branch, actual strategic action shall be done based on the reference, which will truly bring benefits.