The Study On The Pivate Banking Business Development Of Bank Of Cornmunication Shandong Branch

In sixteenth Century, the private banking business originated to protect the millionaires in Switzerland. Beginning, it serviced for the super millionaire more than$3000000. Gradually, it develops to provide comprehensive financial services to high net worth clients. After joining the WTO, Chinese financial market is fully opened, and then the foreign banks in China will develop faster and faster. The private banking business becomes the first breakthrough for Happy Valley enclosure to foreign banks in our country. In the past two or three years, there are20foreign private banks to be opened in China. The private banking business has become a hot topic in China’s banking industry. Chinese residents also accumulated much wealth after China’s development for many years, and because the private banking business creates high contribution rate to commercial banks, the private banking business becomes the development strategy in every bank.The private banking business is dedicated services to high net worth clients. According to the international practice, their assets are more than$3000000. Its philosophy is not the products, and the service is not limited to the traditional deposit, loan, foreign exchange and other services, but to provide a full range of professional, comprehensive financial services, including the growth of wealth, retirement pension, tax planning, asset allocation, risk control and so on. It services for the high net worth clients by one-to-one personalized service to help they find targeted solutions in complex situations, in order to manage their assets better and develop new source of wealth for future generations. All commercial banks have launched the private banking business from the brand building, product design, personalized service and other aspects of innovation to compete for market share. In this context, Bank of communications Shandong branch developed its own development strategy, and establishes its private banking business brand.This essay intends to analyze the current develop situation of Bank of communications Shandong branch and study the existing problems in the business based on its current development status, its own characters and resource input, and then provide solutions to improve its business. The retail sector has accumulated a considerable number of high net worth clients in these years, so it’s foundation of the retail customers is very well. The customers need professional services, so its private banking business can be operated in the large retail system to solve professional management problems. It’s private banking business future develop by active financial innovations in the regulatory support, but also to ensure the safety of client’s funds and the comprehensively, globally financial services. The business can be divided into wealth management business and private banking business according to assets of their clients.