Research On The Development Of Private Banking Business Of ZY Bank

In recent years,with the development of social economy and the improvement of people's living standards,people's wealth level is also increasing year by year.The high net worth population in China is increasing year by year,and the investable assets of the high net worth population are also increasing,which brings new opportunities to China's wealth management industry.Private bank customers have the obvious characteristics of high recognition,strong customer stickiness and high brand value,which can provide a strong breakthrough for the retail transformation of banks and is expected to become the innovation point of the future development of retail banking business.With the reform and improvement of financial system in China,private banking will become an important way for financial institutions to improve their competitiveness and profitability.ZY bank is the only provincial legal person bank in Henan Province.It was founded in December 2014 and was formed by the merger and reorganization of 13 urban commercial banks in Henan Province.Among them,the private banking sector manages the private banking business of the whole bank and is committed to becoming the most influential private bank in Central China.Mainly responsible for the marketing development,product creation,comprehensive financial and non-financial services of high net worth people.In one and a half years of business development,we have achieved good results,but there are still some problems.This paper selects private banking business of ZY bank as the research object,introduces the background and process of private banking business development of ZY bank,and the achievements in private bank performance growth,product sales and customer hierarchical management.This paper discusses the problems and reasons of private bank brand,customer service,product system,marketing strategy and business risk in the development of private bank business of ZY bank under the current economic environment.Based on the development experience of Ping An Bank,Bank of Beijing and Bank of Jiangsu,this paper proposes to provide constructive suggestions for the development of private banking business of ZY bank in terms of building private bank's exclusive brand,improving staff training and incentive mechanism,providing specialized differentiated products and services,innovating marketing methods,strengthening internal management and risk prevention and control,so as to promote the high quality of private banking business of ZY bank The development also provides reference for the development of private banking business of other local commercial banks.