The Research On Competitive Strategies Of Personal Finacial Services About Bank Of China Hunan Branch

With the economic and social development of China, as well as the fulfillment of the opening-up commitments in the financial sector after its accession to WTO, domestic commercial banks have begun to pay attention to the development of personal financial services. Especially in 2008, the traditional wholesale business of the commercial banks was seriously affected by the global financial crisis trigged by the sub-prime crisis. In order to prevent the sharp decrease in profits, the commercial banks made positive adjustments towards business strategy. In Hunan Province, the China Construction Bank, Industrial and Commercial Bank, China Merchants Bank, CITIC Bank, and other commercial banks have strategically placed their personal financial services as their development priority in the future. HSBC Bank and other foreign banks with the advantage of the private banking business have also entered the Hunan Province to compete with the local banks.To the Bank of China, Hunan branch,it is urgent to adopt and implement some competitive strategies of winning market share of personal financial services. To implement such strategies involves opportunities as well as challenges. The opportunity is that the financial crisis has a relatively small impact on the economy of Hunan Province, Per capita disposable income of urban residents and rural per capita cash income is continued growth in Hunan provinces. At the same time, especially with the policy of "expanding domestic demand, maintaining growth, promoting development" and so on a series of policies, the investment and consumption of the residents will be further development, this is also helpful the commercial banks personal financial business. This is also full of challenge to the commercial bank especially under the condition of the continuous development of direct financing market, decline in demand for credit, narrowed deposit and loan ratios and the decrease of intermediate business income as will as the possible of losing high-quality talents in the competition of the financial market . Based the above , this paper designed the personal financial services market competition strategy of Bank of China of Hunan Branches, the strategy including personal financial services market segmentation and market positioning strategies, differentiated high-end customer service strategy, customer relationship management strategy and brand marketing strategy. For the Bank of China, Hunan Branch, the aim of implementing the market competing strategy of personal financial services is to achieve the establishment of "first-class retail bank". The main idea of the market competition strategy is to change the individual business management model. The security system of the market competition strategy mainly includes the establishment of a sound personal business services, marketing systems, internal control and risk management system, and individual credit information system and so on. This article explores some strategic measures from the above aspects: adjusting and optimizing personal financial services market structure, transforming the management pattern of personal financial services market, raising the competitiveness of the personal financial services market, improving the security system of the personal financial services market competing strategy.