Research On Development Strategy Of Overseas Corresponding Banks For Bank Of Zhengzhou

Commercial banks are currently facing series of troubles in their development,including a tough situation where traditional interest margin is getting increasingly smaller due to interest marketization,rapid development momentum of Internet finance,catfish effect brought by private banks to the market as well as financial disintermediation that drives fund away from low-return commercial banks,which greatly restrict traditional channels and origins of deposits for commercial banks,resulting in a huge pressure for the development of these banks.Therefore,commercial banks should,at the strategic level,expand business scope.Namely,enlarging business coverage in terms of both area and customer shall be adopted as the countermeasure to cope with the tough situation described above.Nowadays,many commercial banks have taken rapid development of international business as the key for their new business.However,one of the critical issues for commercial banks is how to rapidly set up channels for cooperation with international correspondent banks and embark on a unique and characteristic path of internationalization.The strategy for Bank of Zhengzhou to develop its overseas correspondent banks is the object of this study.First,situations for correspondent banks of financial institutions,challenges for Bank of Zhengzhou to develop overseas correspondent banks as well as the importance of their development are analyzed in three aspects,namely,internal environment,macro environment and industrial environment.In chapter three,the situation and existing problems of Bank of Zhengzhou in its development of overseas correspondent banks are introduced in four aspects: brand management,product strategy,marketing channels and personnel disposition,followed by a summary for the causes of such problems by analyzing the attention paid by the management to those problems,improvement of hard strength of Bank of Zhengzhou as well improvement of staff's comprehensive capacity.In the later chapter of the thesis,optimization strategies including brand-building,marketingchannel innovating,service-improving and personnel training are proposed for Band of Zhengzhou to improve its development of overseas correspondent banks with full consideration to actual conditions of the bank.Finally,supporting measures are suggested to implement the marketing strategies.It is hoped that constructive thoughts and ideas are made in this paper for the development of overseas correspondent banks of Bank of Zhengzhou.