The Research Of The Development Strategy Of Commercial Banks’ Personal Financial Services

The development of personal financial services of commercial banks, can notonly promote the transformation of banks’ roles and functions, but also help tooptimize the structure of banks’ customers and boost business performances. We cansee that personal financial services directly influenced the competitiveness andperformances of commercial banks. By developing personal banking business,China’s commercial banks can expand service area, enhance competitiveness,optimizing the inevitable choice of assets and income structure. Foreign banks haverelatively long history and rich experience in operating in the personal bankingbusiness, but due to the late start, the development time is short, and there aredifferent degrees of restrictions in terms of the social environment, this business ofChinese commercial banks have large gap with foreign banks.Firstly, this paper describes the background and significance, and showsliterature review of personal financial services at home and abroad. Secondly, thispaper leads to the case of Citibank, and introduces the Citibank and it’s personalbanking business, explains the basics knowledge of personal financial services,including the meaning, significance and features, etc. It also briefly describes thebackground and development history of the development of personal financialservices at Citibank. Then enter the stage of the case series analysis, firstly gives a fullelaboration of the current situation and problems of our commercial bank’s personalfinancial affairs, including the problem of the credit system, product development,marketing channels, risk management system, the market segmentation and brandbuilding. Then this paper introduces the development strategy of Citibank’s personalbanking business, find out where their success and worth learning. Finally this paperproposes strategies and recommendations from creating a relaxed environment andstrengthening the building of commercial banks’ personal financial business tooptimize our commercial banking personal financial services in particular.With the development of socialist market economy and modern scientifictechnologies, there have been tremendous needs for personal financial services by allcircles of people, and the market for Personal financial services are promising.Currently, the commercial banks in China are devoting themselves to the developmentof personal financial services, which not only services the needs of urban and ruralconsumers, and China’s economic development as well, but also is a critical measureto meet the competition from other countries and to enhance banks’ corecompetitiveness.