Research On The Development Strategy Of BON Retail Banking

With the arrival of the new economic era,China's economy has gradually transformed from traditional economy to new economic industry.The economic transformation is an indispensable part of a country in the process of economic development which aims to achieve the renewal and development of economic system and gradually improves the economic structure and changes the industrial structure.The banking industry as a pillar of traditional economy and emerging economy plays an important role in the industrial structure.With the development of economy,retail banking industry has become an important income source for banks.Today banking industry has extended to various aspects,but only ratail business can make banking extended business more broad.There is an interaction and compensation in retail banking which is featured with scattered service objects,limited amount of single business and huge business.For the current banking industry chain,the intermediate business of retail has already been a major part of bank income,while the retail business brings their own bank profit as well as its recognition due to its extensive range and large amount of users.This is very important for a commercial bank.It is only based on a certain group of users that the development of the bank business will have everlasting power.Based on the study of the related literature at home and abroad,this paper explains the related theories on the retail business of commercial banks with the methods of literature research,field investigation,and PEST analysis and five forces model analysis tools and makes an analysis on the external environment about the development of retail business of commercial banks in China.Based on the investigation of the developing trend of market economy in China's banks,the international situation and the new economic era,this paper analyzes the current development situation of retail business of NanJing bank in the light of the specific data and finds out the existing problems in the process of its development after taking the international environment and industry environment as background faced by China's commercial banks.The main seven problems are:lack of theoretical knowledge to promote the development of retail business;lack of pertinence and innovation about mainstream financial products;lack of capacity in marketing and promotion;lack of institutional norms;being weak at supervision;mainly depending on counter business;being poor in the development of information technology;insufficient understanding of the retail business;being imperfect on the organizations;being backward on the technical means.After this investigation and anlysis,the following suggestions are put forward for strengthening the countermeasures in the development of retail business in commercial banks:modify market sales process of retail business in commercial banks;develop the innovation awareness to bank products in retail business;strengthen the brand construction;set up the retail business brand;strengthen the construction of financial management personnel;improve the overall quality of employees;vigorously develop the Internet business;strengthen the training system of financial management;enhance the ability of risk management for clients,etc..Finally,the paper summarizes the research results and makes a prediction.