Research On The Transformation And Development Strategy Of Industrial And Commercial Bank Of China Y Branch’s Retail Business

The rapid rise of the Internet finance industry leads to increasingly fierce competition in the financial market.At the same time,the diversified demand of customers to put forward new requirements and challenges for the service model of the financial market.The single profit model of our traditional banking industry can not meet the needs of the financial market and the development requirements of banks at the present stage.Customers are pursuing efficient and convenient all-round individual financial services.Therefore,major commercial banks have begun to formulate different development strategies according to their own scale and target direction.With the continuous maturity of the new economy and the continuous growth of residents’ wealth,retail business has become an important means for major commercial banks to enhance market competitiveness and expand the competitive market by virtue of its advantages such as diversification of operating risks,stable customer returns,abundant products in the retail sector and strong development potential in the retail field.Developing retail business has become an inevitable trend for commercial banks to achieve sustainable development under the new normal.This thesis firstly introduces the background and significance of the current transformation of state-owned commercial banks,summarizes the general situation and development theory of the retail business of domestic and foreign commercial banks,and summarizes the related concepts of the retail business of Chinese commercial banks and analyzes the necessity of the transformation and development of retail business.Moreover,the core research content of this thesis takes the Y branch of Industrial and Commercial Bank of China in Chengdu City as an example.By referring to the development experience of the industry and refining various development data of the branch in recent years,through the detailed analysis and data combing of the operation situation and operation mode of the branch,the status quo and existing problems of the retail business development of the Y branch of ICBC are obtained: the influence of Internet finance;Lack of product innovation and small retail scale;Lack of customer management and marketing management;Imperfect risk management mechanism;The unreasonable construction of professional talent team and the inflexibility of team cooperation;Then the SWOT model is used to analyze the strengths,weaknesses,opportunities and challenges of the transformation and development of the retail business of Y branch of ICBC,and the direction of it transformation and development is defined: integrated management marketing,brand product system,channel construction management;At the same time,according to the problems found in the research,measures and suggestions that are closer to the reality are proposed to realize the transformation and development of retail business from the aspects of organizational personnel structure,scientific and technological innovation construction,risk management and prevention,etc.,so as to help the transformation and development of retail business of Y branch.Retail business is the closest contact between banks and customers,which can not only reflect the differentiation of banking services,but also enhance the sustainable development of commercial banks as an important means.Hope that the targeted suggestions or measures obtained through the actual research of this thesis can effectively solve the current state-owned commercial banks in the process of retail business transition real thorny problem,and have certain enlightenment for other commercial banks in our country.