Research On The Development Of Private Banking Business Of Industrial And Commercial Bank Of China

In recent years,the economy of China has developed rapidly and per capita disposable income has increased significantly.The banking industry has diversified its business scope,product types and profit methods.Among them,the private banking business has grown out of nothing into an excellent one.This is a faster growing and more promising value market than traditional financial markets.At present,the development level of China's financial market improves constantly,the horizontal competition is extremely fierce,and the market supervision tightens continually.The whole Chinese banking industry must face a problem that how to win the market and increase the market share quickly.As one of the world's top 500 enterprises,Industrial and Commercial Bank of China(ICBC)has always attached great importance to the development of private banking.The ICBC ranks the second in the domestic share of private banking business and the first-class in the world banks.Summarizing and studying its development experience can provide necessary intellectual support and theoretical basis for China's private banking business.This paper takes the private banking business of ICBC as the research object and introduces its development process,operation mode,comprehensive situation of financial products and non-financial services.It also selects China Merchants Bank(CMB)as the reference object,compares the key index data of these two,and analyzes the weaknesses and deficiencies of the private banking business of ICBC.Moreover,SWOT model is also used to analyze its internal conditions and external environment.In the end,drawing on the advanced experience of United Bank of Switzerland(UBS),the author puts forward the thoughts of deepening reform with Chinese characteristics that are in line with the actual situation of ICBC.