Bank Of China Hunan Branch, Personal Financial Services Development Strategy Study

Personal finance management is the process that commercial bank helps its customer to realize his goal by utilizing his own financial resource. In west countries, personal financial services have become the most important areas and profit growth point of the west commercial banks. In china, personal financial service is a new business . Nowadays, the ratio of personal deposit maintains high. In this circumstance, the one who could take the advantage in getting the opportunities in personal financial service, he could be more competitive in the bank industry. Therefore, personal financial service is becoming one of the main areas in the competitive innovation of Chinese bank product and service. Every bank shows its own financing brands one after another in order to fight for the important customers, and innovate product by product-design, brand-setting up, personalized service, etc. Bank of China also creates its own brand.This paper introduces the concept and the theory foundation of personal financial service through the specifications. Meanwhile, it gives review for the development of personal financial service both for internal and external banks, and then finds out the disadvantages in the Chinese banks through comparative analysis. Then this paper, based on the idea of "family life cycle" and samples under survey, discusses the specificity of the customers in personal financial service demand and the specificity in banking service quality expectation through the method of ANOVA. On the basis of combining bank business statistical data, this paper analyses the advantages, problems that exist in personal financial service in Bank of China and the reasons in deep level. At last, this paper illustrates the counter-strategies and measures on the basis of the features in Bank of China.