Study On The Transformation Of Retail Business Of Inner Mongolia Branch Of Agricultural Bank Of China

The number of China’s commercial banks surges since the beginning of reform and opening-up. It’s the response to the increasing needs of financial service as well as the development of our national economy. However, the more the number of commercial banks the more likely the competition situation of marketing becomes intense, what’s more, many foreign banks share the market with local banks which intensify the situation. So coping with this problem and holding one’s market position become especially crucial. With the advanced technology becomes much easier accessible, it provide the base equipment of the transformation of commercial banks. Retail business is one of the possible directions of commercial banks’transformation.Inner Mongolia Branch of Agricultural Bank of China was founded in1979, it is consist of fourteen second-level branchs, one hundred thirty-one sub-branch and five hundred seventy-eight business offices. The bank’s development is also facing problems which is very common with other commercial banks, such as the reality that the public demands for financial services is increasingly higher. So transformation is the necessary step for this branch to deal with its problem. Inner Mongolia Branch of Agricultural Bank of China started its retail business transformation in2009which includes the transformation of its product, staff and site. In accordance with the development plan of the retail business transformation, after years of practice and development, it has successfully achieved the harmonization of organizational relationships, while effectively fully integrated banking resources. This paper focused on the transformation achievements, problems and the corresponding solution strategy of Inner Mongolia Agricultural Bank of China branch in its retail business transformation which may provide some valuable guidance to the similar transition in the future.