Development Strategy Research Of The Private Bank Business, Shandong Branch ABC

As early as the 16th century, private bank had appeared in Geneva Switzerland, some bankers gradually showed interests on how to effectively manage and continue the assets of wealth, and provided corresponding services. After 400 years development, private banking had gradually became a major service in the banking industry, it mainly serviced for high-end customers, and helped them manage the huge assets, and provided necessary information for their investment, therefore, private banks naturally became the sparkling jewels of banking industry, particularly, the private banking services helped many customers to avoid major property damage for many customers during the global economic crisis in 2007,private banking made investment planning and financial planning for customers,which were increasingly accepted by public. Therefore, private banking business had gradually became the most important business among financing institution represented by banks.As for China, in 2005, the Swiss bank of USA started private banking business for the first time in China, and then got out of hand, more and more commercial banks set up private banking sector. So far, China’s private banking competition appeared and became fierce increasingly. Agricultural Bank of China founded its first private bank in Shanghai in Sep.2010,and in Jinan Shandong in Dec.2010.Different from others commercial banks, the private banking business of Agricultural Bank of China Shandong branch was underdeveloped, and faced many problems, such as marketing development, marketing segmentation and financial product innovation, and so on.This paper analyzed and described the current development situations of private banks, pointed out present problems, and found out the development direction for private banks through SWOT method. It proposed product innovation, enlarged local advantages, and strengthened professionals training and recommendations etc. All those methods aimed to offer advice and suggestions to the development of the private banking of Agricultural Bank of China Shandong branch. In this paper, there were personal opinions and views on the development of the private banking of Agricultural Bank of China Shandong branch, which could promote the development of private banking business of Agricultural Bank of China.