Research On The Development And Countermeasures Of Bond Underwriting Business Of Jiangsu Branch Of GS Bank

In recent years,with the increasingly mature capital market and the guidance of the top-level design of the country,the proportion of direct financing of Chinese enterprises has been increasing,and the direct financing market represented by non-financial enterprises debt financing instruments has developed vigorously.On the other hand,with the continuous acceleration of interest rate marketization process and the rapid development of Internet finance,the profitability of traditional commercial banks declined,development encountered bottlenecks,facing the enormous pressure of business transformation.Compared with the traditional credit business,the debt financing vehicle bond business of non-financial enterprises not only does not take up the scale of credit,but also increases the income of intermediate business,and can also stimulate many traditional businesses,such as loans,deposits,settlement and financial management,etc.Increasingly,it has become an important innovative approach in the process of development and transformation of commercial banks.Jiangsu is the second largest non-financial corporate debt financing instrument issuance market and more than 30 financial institutions are engaged in fierce competition.This paper took GS Bank Jiangsu Branch as research object,depending on data analysis,combined with financial management and marketing related theories.It summed up the development of the GS Bank Jiangsu Branch’s debt financing instruments underwriting business since the launch of the business from2008 into four big features:the amount of underwriting is increasing year by year,but it increases much slower than the growth rate of the bond market in the same period;favoring high-rated enterprise;relying heavily on large-scale bond issuers in the province;unbalanced business development between municipal branches.By horizontally comparing the underwriting data of 2017 with CCB.BOC and ABC,the author found that the GS Bank Jiangsu Branch’s bond underwriting business has big gap not only in the market ranking,regional development,but also the customer base and credit advantage area,.In general,the bond underwriting business of GS Bank Jiangsu Branch mainly has several problems such as lagging business development,lack of talent team,single sales channel and low efficiency of examination and approval,which restricts the development of the bond underwriting business of the bank and weakens its market competitiveness.The author believes that the main reasons for these problems are as follows:the business philosophy is not valued,the incentive measures are absent,the underwriting resources are insufficient,and the traditional business model is adhered to.In order to realize the sustainable and healthy development of the underwriting business of GS Bank Jiangsu Branch,the author puts forward the pertinence from six aspects based on the business objectives of comprehensively improving the proportion of underwriting,profitability and innovation.The strategy are as follows:First,change the traditional concept,increase the degree of emphasis,second,create a professional team,improve the incentive mechanism,third,expand distribution channels,enrich pricing tools,fourth,improve the efficiency of examination and approval,strengthen the management of the duration,fifth,fine screening quality customers,provide comprehensive services.Sixth,explore product mix and strengthen innovation.