Bank Of China Personal Financial Services, Discussed

Personal finance management is the process that commercial bank helps its customer to realize his goal by utilizing his own financial resource. The commercial banks annalize the customer's financial data such as income , expenditure , assets , debt, insurance, cash flow ,and assets value, consider various kinds of financial goals of the customer's synthetically, and carry on the test of customer's risk partiality and adjustment of investment combination in order to help the customer make individualized financing plan, recommend the financial product, provide finance management report. The business of personal finance management is a hot issue in our country's banking. 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 set up , personalized service ,etc. Bank of China also creats its own brand .This text introduces the situation of personal finance management business of Bank of China , compared with other banks in China and foreign countries, analyses current situation and troubles, and put forward the countermeasure . The full text is divided into three chapters, the main content is as follows: Chapter One explains the necessity of Bank of China to develop personal finance management business. saying market demand: Since reform and opening-up, the domestic economy has developed fast, the wealthy family and high income colony have taken shape progressively , and the personal finance management demands grow at top speed. China social investigation office carried on some questionnaire investigation in four major cities as Beijing ,etc. in 2002 .The result is that 74% of the persons investigated are interested in the management of personal money, 41% express that they need the service of personal finance management. From Bank of China's own strategic respect: the Chinese financial market will open to the outside world in 2006, and foreign competitiors will join . Personal financail mangement business has already been one of the key contents of the banking in developed countries.More than 80% of bank business income comes from the difference between deposits and credit balance .The bank will suffer from the limitation with sufficient capital only relying on the existing type of operation,so commercial bank should compress the volume of credit , adjust the profit structure. To develop the personal finance manegement will be the strategic structural adjustment of Bank of China. Chapter Two introduces the development of personal finance management business ,and mainly concerns its strategical plan, operation method , developing process . Chapter Three explains the current situation and trouble of personal finance management business of Bank of China, introduces personal finance management in Citibank NA and Hong Kong banking abroad ,and Industrial and Commercial Bank of China, China Merchants Bank at home, then make a compariation among these banks.Finally we find out the disparity of Bank of China.There are some problems as follows:the finance management product of foreign currency leads first , whereas RMB is deficient; the homogeneity of the products is serious. Innovation of product lags behind market demand ; customers have not been subdivided enoughly, analysts and consultants are demanded seriouly .commercial banks lack the ability of surveying ,studying,and anticipating the market.the technological system can not catch up with the demand of customers, customer's cognition degree is still not enough, and the domestic need to the personal finance management product is not very strong at present. Chapter Four talks about countermeasure to settle matters mentioned in chapter three. We should strengthen brand construction at first, including strategical plan , tactics , channel construction , building ofgroup , scientific and technological demand , management system , particularly the research and development on finance management product. In order to innovate of finance management product, its design principle i...