Research On The Competitive Strategy Of Retail Business Of Industrial And Commercial Bank Of China Inner Mongolia Branch

Commercial bank retail business is closely linked with ordinary people. Retail business is also the key to success for commercial bank to meet challenges of change. Therefore more and more commercial banks have regarded retail business as the focus of business transformation. On the one hand, regulatory policy has been adjusted significantly, and there are obvious changes in the economic, social, cultural and technological fields. On the other hand, ICBC Inner Mongolia Branch has its own problems and shortcomings, while has to face the fierce industry competition and the growing Internet Finance. Therefore ICBC Inner Mongolia Branch has to design competitive strategy for the retail business development to win the competitive advantage, though it already has a large customer base, as well as industry-leading product resources, channel resources, technical resources, human resources and so on.This paper introduces the retail business of ICBC Inner Mongolia Branch. Then analyzing its inner and outer environment, as well as its opportunities, threats, strengths and weaknesses by the PEST analysis, Five-force Model and SWOT matrix analysis etc., making it clear that ICBC Inner Mongolia Branch should take differentiation strategy which targets at customers owning financial assets between 200,000 yuan and one million yuan, and should take cost leadership strategy which targets at customers owning financial assets less than 200,000 yuan.In the end, designing the strategic security measures from five aspects,which are channel construction, technical support, staff training, team construction and risk control.