Research On Development Strategy Of Consumer Credit Business Of Bank Of Ningbo

As domestic consumption increases rapidly and significantly,consumer credit has entered “the golden age”.Internationally,commercial banks in the United States and Japan have already centered their strategic focus on consumer credit for constant business development and product innovation.Because of the advantages of consumer credit,many commercial banks and financial institutions in our country have gradually regarded it as a solution to promote competitiveness as well as profit.Under the impact of policies,supervision,market and similar companies,it is necessary for Bank of Ningbo to make its consumer credit business bigger and stronger.And it's also the key to ensure its continuous and rapid development.Based on the analysis of current research,the paper analyzes the strategic environment of its consumer credit business systematically.The main research contents and results are as follows:Firstly,by learning the development status,and analyzing existing data as well as current strategies,we point out the problems in current strategies and the main causes of these problems.Secondly,we analyze the macro-environment through PEST and industry environment through Porter Five Force.Combining its ability and resources,we gain its advantages and disadvantages,opportunities and threats,thus form a SWOT matrix and obtain four strategic combinations.Thirdly,based on above analysis,it clarifies the orientation of customer group,product as well as region that Bank of Ningbo should develop for its consumer credit business.Besides,the paper proposes the adjustment direction of the cross-regional and differentiation strategies,and proposes measures to ensure the implementation of those strategies.This paper is a product of the organic combination of theory and practice.And it has certain practicability by using the method of strategic analysis.We hope the research will give certain references to the development strategy of consumer credit business for Bank of Ningbo and other city commercial banks in the next stage.