Research On The Development Strategy Of G Bank’s Personal Finance Business

As a new era of socialism is approaching,China’s economy is transforming and developing in the direction of high quality,and the living standard of residents has improved significantly,the traditional deposit and savings business can no longer meet the residents’ demand for asset preservation and appreciation.The cooling of the property market has accelerated the shift of asset allocation,personal finance services with high investment returns and relatively controllable investment risks have come into the view of residents,and increasingly developed into one of the most concerned asset investment channels.By the end of 2022,278 banks and 29 financial management companies had 34,700 financial products in storage,with a total size of 27.65 trillion yuan.Having 96.71 million investors holding wealth management products,financial products have generated a cumulative income of RMB 880 billion for investors in that year alone.Founded in 1998,G Bank,formerly known as DY Bank,is a member of the third tier of city commercial banks in China’s banking industry.In the past 20 years since its establishment,with the advantages of short decision-making radius of local legal entities and flexible mechanism,G Bank has rapidly seized the local market,grown in scale and achieved leapfrog development.In 2014,DY bank successfully introduced China Great Wall Assets Management Corporation,a central financial enterprise,as a strategic shareholder.G Bank started to provide personal finance services in 2008.It is one of the early banks in the series of city commercial banks and has won many awards in the market of personal finance services.Nevertheless,in recent years,owing to the decline in R&D capability,single product shelf,weakness of financial management personnel and technology information system,the surviving scale of financial services remains at around 15 billion yuan.It is difficult to support G Bank’s brand image as a "state-owned wealth management bank".This thesis eviews the development process of commercial banks’ personal finance services first,then reviews the current situation of Chinese commercial banks’ personal financing from four aspects,such as market size,type structure of personal financing products,investment of personal financing products,and investors of personal financing products.The tightening interest rate differential of deposit and loan business and the continuous increase in the proportion of intermediate business income from the internal motivation for commercial banks to develop personal finance business,and the increase of residents’ disposable income,the demand for financial management generated by new wealth,and the transfer of asset allocation caused by the cooling of real estate constitute the external motivation for commercial banks to develop personal finance services.The fourth chapter takes G Bank as the research object,I have an interview with the person in charge of retail finance Department of G Bank to understand the current situation of the financial management team of G Bank first.And designed a questionnaire for personal finance customers of G Bank,From G bank financial products,G bank financial practitioners,G bank personal finance business technology to analyze the existing problems of G Bank’s personal finance services.The necessity and feasibility of G Bank’s development of personal finance business are clarified by using PEST macro-environment analysis.In the end,the SWOT analysis matrix establishes that Bank G should use the "WO" turnaround strategy to formulate development strategies in terms of products,personnel,and technology,and supplement them with corresponding support measures.This thesis analyzes the development strategy of personal finance business of G Bank,which is of certain reference value and can provide inspiration for small and medium-sized city commercial banks to solve the problems encountered in the development of personal finance business.