Post Savings Bank Of China Overseas Financial Service Expansion Analysis

As the living standards of local residents and demand for outbound travel increase,relevant overseas financial services gains popularity among many banks.Overseas financial services have most of the features of retail banking services-through overseas financial services and focusing on high end consumers to realize profit growth is the common goal of many commercial banks.Post Savings Bank of China(PSBC),in the aim of continually developing its market,achieve expansion from mass consumer group to mid-high end consumer groups,and increase profitability,also enter the competition for overseas financial services.In the midst of intense competition,PSBC's various issues such as incomplete product lines,imperfect operations and low brand awareness gradually surfaced.This research paper focuses on uncovering a way to developing competitive advantage among competing banks and focusing on market development strategies by starting from regional savings bank,with reference to relevant case studies.This paper conducted research on China's overseas financial services development situation,with specific focus on the overseas financial services market in Fuzhou.It was discovered that banks such as CITIC,China Everbright Bank and Bank of China gained high brand awareness in the market based on comprehensive overseas financial service and product offerings.However,it is worth noting that PSBC,as a new entrant in the overseas financial services market,has gained a certain amount of market share through its advantage on its services and remittance products.Thus,by conducting SWOT analysis on PSBC's overseas financial services,the paper proposed overseas financial services development strategies befitting the special features of PSBC from different levels ranging from the bank's branch offices to headquarter.The paper also highlighted the importance of forming new understanding towards developing overseas financial services from a strategic height,streamlined internal responsibilities and workflow,established regional specialties through differentiated management,thus bringing about development to the overall service offerings from the bank.The research paper begun from actual work experiences of the author,contained practical analysis over development of PSBC's overseas financial services,and proposed focused and precise development strategies.