The Study On The Private Banking Business Of The ICBC

We enjoy the dividend of reform and opening up,our economy is developing rapidly,the result of the rapid accumulation of social wealth is that the number and proportion of high net worth people keep rising,and the development of society,the progress of science and technology and the enrichment of the spiritual world make the high net worth people more and more eager for wealth management.It also provides the foundation for the development of financial market standardization and maturity.If the traditional commercial bank wants to occupy the successful position in this opportunity,it must accelerate its development strategy transformation,otherwise it will be difficult to adapt to the rapid process of financial marketization,gradually be abandoned by the market,lose its own broad development field.In the severe barrier that needs to be transformed,commercial banks are aiming at these high net worth people,they have become the domestic commercial banks to occupy market share to obtain the key break in operating efficiency.Thus,the private banking business of commercial banks in China emerged.In fact,although the concept of private banking is well known to society,there is not yet a uniform standard interpretation of private banking internationally.So this paper will compare and analyze the private banking business with the traditional retail business to better understand the characteristics of the private banking business itself.And the service object is the most important,the feasibility of private banking in the domestic development,opportunity point,innovation point must be based on customer group analysis.So we analyze the high net worth target customers from four aspects,such as the number of target high net worth customers,geographical distribution,composition structure and investment preference.Among them,China's high net worth people are more interested in equity and other equity assets and overseas investment.Secondly,taking the private bank of industrial and commercial bank of China as an example,this paper focuses on the development and innovation of private banking of commercial Banks in China.Industrial and commercial bank of China is outstanding,many indicators reside domestic and even international financial industry crown.On March 27,2008,icbc became the first private banking franchise in China to be licensed by the China banking regulatory commission.This part elaborates the innovation strategy of icbc's private banking business from three aspects:product innovation,service innovation and organizational structure innovation.In product innovation,we mainly introduced the exclusive products of icbc private bank-"jing-win series".It includes alternative investment products in the "jing-win series",which is linked to pu 'er tea.Icbc is trying to create a brand in the "jing-win series",and it briefly Outlines the importance of private bank branding.In terms of service innovation,icbc's private bank attempts to shift from "selling products to offering solutions".Industrial and commercial bank of private bank,relying on strong group advantages,integration of external quality resources,in addition to providing a variety of products,should also be formulated according to the requirements of various types of customers to belong to their investment,financial planning and asset management plan maximize meet the various needs of customers.Part in organization structure innovation,icbc draw lessons from foreign advanced experience,USES a relatively independent management institutions directly under the model,through the "quasi divisional system" to strengthen the private banking product innovation and supply ability.Finally,based on the current situation of private banking in China commercial bank,this paper puts forward some Suggestions based on SWOT analysis.In recent years,the private banking business has received more and more attention from the society,and the status of the commercial bank is becoming more and more important.Private banking,as a financial service offering wealth management as the main content for high-end clients,can bring higher returns.It will improve the competitiveness of Banks.With the rapid development of our national economy,the private banking business is very promising.