Analysis Of Retail Banking Transition Of The Commercial Banks' Outlets In Central City

With the acceleration of economic globalization,the booming retail banking in mature foreign markets has brought many new inspirations to domestic commercial banks.In China,there is great potential with retail banking because of the rapid increase of income and the saving tradition of Chinese.With the change of the overall economic environment,the old way of expansion by scaling and interest margin is unsustainable.A large number of bad loans have accumulated,while the retail banking shows its advantage of diversification of risks.Commercial banks start to change their strategies and upgrade retail banking business.The development of information technology and intelligent electronics also provides a much bigger room for commercial banks to develop retail banking business.On the other hand,the fierce competition between banks make them upgrade their products and services constantly to seize the market.At the same time,Alipay and other online payment platforms became major players in the retail market.Commercial banks need to find new way of developing retail business,facing the opportunities and challenges.The transformation of retail business of commercial banks is a big topic including the change of commercial banks' operation concepts at macro-level,and the transmission and execution of policy.Generally,the headquarters of commercial banks come up with overall development strategy,whereas the local branch offices which face with customers have their own business environment.Stating from the local retail-banking branch offices' perspective,this paper includes six sections: starting from the background and overview of the retail business of commercial banks in China;from the perspective of commercial banks' outlets in the central urban area,analyzing the current situation of retail banking,stating the importance and necessary of business transformation;learning from the experiences of foreign counterparts and discussing the direction and strategy of business transformations.In the analysis process,the Chengdu branch of Bank R of China is introduced as an example case.R branch is located in the central city of Chengdu,an important city in southwest China.It has a long history and experiences in the rapid development period of Chengdu,which is very representative.In the view of R branch's regional environment,hardware configuration,customer structure,marketing services and other aspects are discussed in this paper,by the data collected in actual work.This paper then combines with STP marketing strategy theory to propose a series of proposals for R branch in order to make it one of the best outlets in the region.The practical significance and research conclusions proposed in this paper have explored the directions of formulating more targeted and actionable transformation strategy of retail banking based on real scenarios.This paper hopes to provide helpful references of retail banking transformation strategy to the other outlets of commercial banks.