The Study On The Competition Strategy Of Personal Financial Business In Hunan Branch, Bank Of China

A growing interest in the competition strategy of personal financial business, which affects on the functional changes in commercial bank and the structure optimization among assets, profits and customers inside the bank, exists among policy makers, advocacy groups, and educators. It is an important means to enhance core competitiveness for commercial banks by implementing the proper strategy. However, as one of the state-owned commercial banks in China, Bank of China is facing a severe trial on its development of personal financing business. The purpose of this study has been to enhance paying close attention to it. Considered from the internal conditions and external environment for the bank, existing problems and causes were described in this paper and way of improvements for them was suggested. The suggestion may be important considerations in prompting the bank to reinforce scientific management and risk control of the personal financing business and strengthen the comprehensive enterprise competitiveness and the sustainable development successfully.Reviews related to current situation and research progress on the strategy of personal financing business suggest that the research on competition strategy of personal financing business would be meaningful and necessary. And then, the research approaches and the framework have been proposed. By taking Hunan Branch, Bank of China as the research object, the regional and external environment has been summarized, and the current situation of its personal financing business has been discussed. Subsequently, the key problems and their causes on the customer requirements, marketing and security management during the development of its personal financial business have been clarified. Based on the SWOT analyze, a SWOT matrix was constituted and the brand, product, marketing, risk and team of personal financial business should be developed.With regard to customer requirements and marketing, the recent target of the personal financial business has been proposed, and the development strategy on brand building, product optimization and marketing management has been determined. As to the security management, the protection target has been analyzed, and the proposition of the risk management and team building has been established.Finally, according to the research results, the competition strategy of its development and the policy suggestions on its guarantee measures came out. The findings of this study indicate that the competition strategy of personal financial business may be important considerations and references in related administrators to deliver successful implementation of personal financial business.