XX Bank Of HENAN Branch Development Strategy Research

Looking at the world,a new round of scientific and technological revolution is being carried out vigorously,industrial changes are sweeping all aspects of society,and countries are undergoing major changes unseen in a century.At the same time,the domestic economic transformation has entered an important stage.And the new strategy of boosting high-quality development has achieved initial results,with significant institutional advantages and a significant improvement in governance efficiency.As an important development pillar of our country,the financial industry bears the brunt.Under the strong impact of the deteriorating Sino-US trade war situation and the constant counterattack of the new crown epidemic,my country has put forward higher requirements for all industries in the new development stage,causing the overall industry environment of the financial industry to experience greater turbulence.Among them,the implementation of the LPR interest rate pricing mechanism has reduced the operating interest spreads that banks traditionally rely on,combined with the financial impact of the Internet on traditional finance,the impact of financial technology on the financial industry,the high demand for financial services from the community.and a large number of disorderly banking industries.The competition in the same industry has brought the financial industry into an unprecedented predicament.Therefore,this article studies the development strategies of financial institutions,studies and judges industry development trends,studies the transformation strategies of commercial banks,and promotes the high-quality development of the overall industry.According to researchers from XX Bank Henan Branch,combined with principles related to strategic management,this paper analyzed the current state of bank development,clarifies the pain points of industry development at this stage,researches and judges development goals,and provides a strategic plan to promote the transformation of commercial banks.First,according to the PEST theory,conduct an in-depth analysis of the target bank from six aspects:politics,economy,society,technology,law,and environment,study and judge the external environment it faces,clarify the influence of the external environment on the development and transformation of the bank,and focus on the study and judgment.The external opportunities and threats faced by a branch of XX Bank;Secondly,the paper analyzes the competition environment of XX Bank Henan branch through Porter’s five forces model,analysis of internal factors in the three main economic regions of Zhengzhou,Luoyang and Nanyang in Henan Province,from the four aspects of state-owned banks,joint-stock banks,major banking institutions in Zhengzhou and competitors Carry out research to clarify the development situation,study and judge its development pain points,clarify the internal advantages and disadvantages of XX Bank Henan Branch;then,use the SWOT analysis method to conclude that XX Bank Henan Branch should choose the WO strategy,and determine the overall according to the WO strategic thinking Development strategy,that is,first use differentiated competition strategy to develop characteristic business brands,avoid internal disadvantages of the organization,use national policy support and local development opportunities,combine its own development status,enhance the competitiveness of the bank,and promote the transformation and development of the industry;backward diversification Develop strategic transformation,give play to the synergy of distinctive brands,and promote the development of diversified levels and concentric diversification.Finally,according to the development positioning of the company’s strategic goals,specific implementation strategies and safeguard measures are proposed to actually promote the development of the company.This paper aims to study the development trend of the Henan branch of XX Bank,according to the development of the external economic market and the new requirements of policies and regulations,to provide the company’s strategic choices and overall strategy,improve its innovation capabilities,improve its management system,and to ensure the development of the banking business laid a good foundation,high quality contributed to the development of the entire industry,contributed to the economic prosperity of my country.