Research On The Development Strategy Of Private Banking Business Based On The Analysis Of Shanxi Branch, ABC

With the sound and growing development of national economy, the improving standard of living and the substantial increase in the household wealth, there is a valuable opportunity for the development of the private banking business. Consequently the business is accelerated strategically by major domestic banks in the hope of the fastest proliferation at the lowest cost.As a state-owned joint-stock giant with the most outlets and the most extensive business scope, Agriculture Bank of China(ABC) has the advantage in the development of private banking business. However, there is a looming gap in comparison with other banks in the business due to lagging business concepts and operation mechanism.Established in May,2014, though, with a late start, Private Banking Department of Shanxi Branch, ABC boasts rich customer resources, huge development potentials, and the clear advantage in the country business concerning Sannong, which lay the solid ground for the further development of the countryside private banking business, and the sound and rapid progress in the service of VIP customers. The paper analyzes systematically the status quo, existing problems and the future plan of the Private Banking business of Shanxi Branch, refers to a lot of domestic and foreign relevant information and provides several helpful strategic suggestions on this field.