The Research For Personal Financial Service Of Industrial And Commercial Bank Of China-YL Branch

It is shown that with the reform of personal income distribution being carried out in China, the personal wealth has been increased and, the personal savings is projecting an ever progressing trend. With the constant knowledge update of personal finance and various scientific and technological improvements, it has become obvious that there is a lucrative business within the personal financial service market. Therefore, each bank had made personal financial service their major market strategy to gain market share and increase profit.The personal financial service is a new financial product in the environment of personal wealth and savings both improved significantly in recent years. In another word, it is to distribute and invest clients’ wealth using scientific and effective means in order to maintain and accumulate their wealth. When the clients’ wealth has reached a certain point, they probably will be more concerned with how to further invest and distribute their wealth effectively in order to achieve a greater gain.Wherever there is demand, there is supply, according to the market rule. Due to the fact that there is a large demand potential for the personal finance market, each bank had launched its personal finance products and kept expending the service they offer. At the same time, the banks introduced innovative financial service products and expended their high-end client list to compete with one to another strongly. Under such circumstance, as a member of the financial market, ICBC (Industrial and Commercial Bank of China) is actively launching personal finance products, building a personal finance service brand, merging its services and products in order to gain opportunities and strengthen itself to meet the competition.This paper use the ICBC’s YL branch as an research object to discuss the business development and strategy in terms of personal finance service. It is to incorporate quantitative and qualitative research methods with the learning of the history of personal finance service offering from domestic and foreign banks and, via a SWOT analysis.First, it introduces the background and significance of the discussed topic with the literature review and, it analyses the paper structure as well as the main researched content. The second chapter theoretically analyses the personal finance services offered by commercial banks. Thirdly, it analyses the development and the necessity of the ICBC’s personal finance service. Chapter four presents the SWOT analysis to personal finance service within ICBC’s YL branch. The fifth chapter moves on to discuss the existing problems in the development of personal finance service within ICBC’s YL branch and strategic planning of the personal finance service. Last, based on the chapter five, it provides solutions and advices towards personal finance service development within ICBC’s YL branch in aspects such as the construction of marketing channels, the advancement of the infrastructure and customer relationship management, renewal of financial concept and innovation in the financial service products.