The Study On Development Strategy Of Retail Business Division Of Industrial Bank Wuhan Branch

Retail banking is the trend of future banking. With the continual deepening of thereform of current domestic financial system, traditional retail banking is facing anincreasingly serious problem of homogenous business in our country, which will becomedifficult to meet customers’ demand of instantaneity and diversify. As for bank, only byfollowing their own development path and forming characteristic business strategy canthey create and improve core competitiveness. Industrial Bank timely caught the tendencyof economic development, the reforms of financial markets and the changes of financialregulation, and formally put forward its transformation strategy in early2004that was “bystriving to develop retail business and emerging business to boost the transformation ofbusiness model and profit model of comprehensive operation”. The focus issue of thispaper is to make a set of feasible strategy implementation plan to further strengthen thecore competitiveness of Retail Business Division of Industrial Bank Wuhan branch on thebasis of its actual situation.This paper firstly introduces the background, purpose and significance of research,then analyzes the external environment of Retail Business Division of Industrial BankWuhan branch by the PEST analysis, and then analyzes its internal environment frommanagement structure, human resource, core products, channel construction andprofitability. After that, this paper combines with the internal environment and externalenvironment by the SWOT analysis, summarizes the internal strengths and weaknesses, aswell as the external opportunities and threats, and makes the strategic match according tothe result of SWOT analysis. At last, this paper proposes the strategic objectives andstrategic measures for Retail Business Division of Industrial Bank Wuhan branch.In this paper, the study finds that: Retail Business Division of Industrial Bank Wuhanbranch is supposed to put occupying the high-end customers, nurturing and excavating thequality basic customers as the mainline, establishing mutually beneficial and lastingcustomer relationships as the basis, intensive management and delicacy management asthe means, making superior, featured products, expanding marketing channels andimproving service ability as the emphasis, actively mobilizes resources and stabilizes support policy to make new breakthrough on the scale, quality, benefit and service of retailbanking. Only by adopting the business development strategy of customer focus, servicebreakthrough and resources integration, and promoting the implementation of humanresource strategy, service marketing strategy and brand strategy can Retail BusinessDivision of Industrial Bank Wuhan branch rapidly promote the development of its retailbanking, and further enhance the core competitiveness of Industrial Bank Wuhan branch.