The Present Situation And Strategies Of Private Banking In Bank Of Guizhou

With the diversification of social wealth and the concentration of personal wealth, private banking businesses have sprang up. Private banking refers to the wealth-management-centered, specialized and high-level financial services provided by commercial banks to high-profile clients with a certain amount of personal assets. These services include banking, securities, insurance, fund, foreign exchange, futures, precious metals as well as capital management, education, tax, investment, real estate, collection, heritage administration, legal advice, family management and so on.Bank of Guizhou, established on the basis of the consolidation of Zunyi City Commercial Bank, Liupanshui City Commercial Bank and Anshun City Commercial Bank, is a provincial urban commercial bank. It was officially set up on October11,2012. The development of private banking of urban commercial banks is still in infancy. As a manager of subbranch of Bank of Guizhou, the author expects to utilize what he has learned when pursuing his EMBA, especially the knowledge about business administration and private banking of commercial banks, to analyze the main problems and difficulties that Bank of Guizhou faces in the development of private banking. On the basis of analysis, the author hopes to work out the differentiation strategies superior to the rivals’and make some suggestions, countermeasures and executive plans so as to promote the sound development of private banking in urban commercial banks in Guizhou.This article is divided into five chapters.Chapter One deals with the summary of private banking of commercial banks. In this chapter, the author elaborates commercial banks and private banking, and then introduces the development of personal financing business and private banking in China. The paper also expounds the significance of opening up to private banking in China’s commercial banks as well as its present development.Chapter Two involves the present situation and problems of private banking of Bank of Guizhou. In this chapter, the author first presents the background of the establishment of Bank of Guizhou and the current development of personal financing business of Bank of Guizhou. Then the main problems in the development are pointed out.Chapter Three is about the analysis of the environment of the private banking of Bank of Guizhou. First of all, the author analyzes the environment and financial features of the private banking business of Bank of Guizhou. The author then analyzes the competitive situation among all the private banking businesses in Guizhou. Finally, the author, with the theory of SWOT, analyzes the external opportunities and threats, internal strength and weaknesses of the private banking business of Bank of Guizhou.Chapter Four deals with the marketing strategies of the private banking of Bank of Guizhou. This chapter gives the bank’s development goals of the private banking at first. And then the author puts forward certain suggestions that differentiation competition strategies should be adopted in the development of the private banking of Bank of Guizhou.In the last chapter, the author makes some specific suggestions on the development of Bank of Guizhou’s private banking business. In this chapter the author gives his proposals on the development of the private banking in terms of target market and brand building, personnel training and product innovation, as well as optimization service and risk management.For Bank of Guizhou, private banking business is not only the external requirement of market competition and customer services, but also the internal demand of enhancing brand recognition and competitiveness. Although Bank of Guizhou’s private banking is still in infancy, it has a large number of potential customers. As an urban commercial bank, Bank of Guizhou has many advantages such as flexible mechanism, timely decision-making process, sharp business acumen, innovativeness and so on, which will benefit the development of private banking extremely. It is hoped that by analyzing the main current problems of the private banking business of Bank of Guizhou and by putting forward some practical proposals and countermeasures, this article can enlighten the development of the private banking business of Bank of Guizhou so as to promote the healthy development of the businesses of Bank of Guizhou. Besides, the author also expects that this paper would be of referential value for this industry.Because of the author’s limitation in knowledge, mistakes and omissions are unavoidable. Please kindly correct the mistakes. Many thanks!...