The Research On Development Strategy Of Sme Business For Changsha Branch Of Citibank

With the acceleration of financial globalization in China,the financial market is gradually opening up.Foreign banks have established its own legal entity in mainland China since 2007.However,with the impact of global economic crisis and increasingly fierce banking competition,Changsha Branch of Citibank faces how to survive in such environment.As a comer to Hunan,Changsha Branch of Citibank also encounters difficulties: poor business development,very limited customer resources,branch operation not adaptable to local market,etc.Thus,it is crucial for Changsha Branch of Citibank to formulate new business development strategy and adapt itself into the local market.At present,marketing and service ability has become the key to banks' competency.This paper focuses on the Small Medium Enterprises(SME)business of Changsha Branch of Citibank.Having analyzed the current situation of the bank and its 5-year development plan,this study demonstrates the opportunity,threat,advantage and weakness,using SWOT model.We have also learned successful experience from other banks,and integrate and generate service marketing strategy.Finally,this study designs the SME business development plan and work out several steps from the perspectives of organization,personnel,procedures and systems to make sure the strategy well carried out.Finally,the paper analyses the economic and social benefits gained through the implementation of such SME business development strategy.The research shows that Changsha Branch of Citibank faces survival pressure in Hunan market.However,it could make full use of its parent company of outstanding brand,abundant strength and traditional advantages of business,which could attach importance to its business development.Based on above research,the paper concludes that Changsha Branch of Citibank should make efforts to enhance business exploring,strengthen customer relationship maintenance and well manage credit risk so as to formulate the key success factor of the bank,which would lead a better reward in a long run.