Research On The Development Of Personal Finance Business Of Z-bank H-branch

With the growth of Chinese income,traditional investment methods,such as savings deposits and government bonds,no longer meet the needs of commercial banks’ individual customers,while the investment methods,such as stocks,have higher requirements for investors’ professional standards and are not suitable for general investors.Compared with savings deposits and government bonds,bank wealth management products have higher returns,and compared with stocks,bank wealth management products have the characteristics of lower risk and stabler income.Therefore,the personal finance services of China’s commercial banks have developed rapidly,and various wealth management products have emerged.In 2004,China Everbright Bank took the lead in issuing the first commercial bank’s RMB wealth management product in China,which opened the prelude to the personal wealth management business of China’s commercial banks.Since then,the scale of personal wealth management business of China’s commercial banks has grown at a rate of 10% to 20% per year.Commercial banks can obtain stable profits through personal wealth management business,which is an important reason for the rapid development of personal wealth management business of commercial banks in China.As of June 2018,the number of personal wealth management products issued by commercial banks has exceeded 80,000,and the scale has exceeded 29 trillion.Under this premise,the regulatory authorities introduced a series of management methods and rules and regulations through in-depth analysis of the personal wealth management business of commercial banks in China,and made clear provisions on the personal wealth management business of commercial banks.In particular,the release of the new regulations for asset management in 2018,the original mode of financial management is no longer in compliance,and the personal wealth management business of commercial banks needs to be fundamentally changed.Under this premise,all commercial banks must transform their original personal wealth management business,be brave in innovation,and attract new investors with new products and services to promote the development of personal wealth management business.Therefore,various commercial banks have explored new development directions of personal wealth management business to enhance market competitiveness.For Z Bank H Branch,if it wants to take the lead in this competition and achieve further development,it needs to accelerate the pace of development according to the current investor’s investment concept and its actual business situation,in order to stand out in the future personal wealth management market.This paper takes Z Bank H-Branch’s personal wealth management business as the main research object,and studies the development status of Z Bank H Branch’s personal wealth management business through literature research,data analysis and case analysis,and analyzes Z Bank H-Branch’s personal wealth management business,the problems are mainly reflected in the following six aspects:(1)The earning rate of wealth management products is low;(2)deposits of wealth management products are serious;(3)acceptance of new products is low;(4)customer satisfaction is not high;(5)low level of technology;(6)professionalism of financial practitioners needs to be improved.There are many reasons for the formation of these problems.There are internal reasons such as serious homogenization of financial products,rigid redemption,insufficient market segmentation,and inadequate internal management of banks.There are also external reasons such as Internet financial influences,banking competition pressures,the lack of customer risk awareness,and the introduction of the new regulations on asset management.This paper puts forward some countermeasures for the problems and challenges.First,strengthen the development and innovation of personal wealth management products.And second,vigorously develop the agency sales business.The third is to improve customer relationship maintenance,and the fourth is to build the core competitiveness of Z Bank H-Branch.In the development of personal wealth management business,Z Bank H-Branch can only achieve sustainable development and rapid progress if it takes active measures to take effective steps.Combining the author’s own work experience,this paper proposes a series of strategies for the development of Z-Bank H-Branch’s personal finance services,which has certain reference value,perfects and enriches the personal finance services of Z-Bank,are in favor of meeting the diversified financial needs of customers,and providing better financial services to customers.