Research On ZS Bank’s Private Banking Business Development Strategy

With the rapid development of new economies and new industries such as the Internet and new energy,the value-added effect of equity has boosted the scale of new high-net-worth groups to expand,and the demand for wealth management has also increased year by year.Especially after the epidemic,the domestic economy has recovered rapidly,and the confidence in investment among various groups has gradually strengthened.How to maintain and increase the value of assets,and how to choose a private banking business for wealth distribution have attracted more and more attention.Private banking business is the embodiment of the business competitiveness among banking institutions.Facing the increasing demand for customers in recent years,it is particularly important to formulate a complete set of competitive strategies to better compete for customers.ZS Bank,as one of the earliest banks with private banks in China,has always focused on changes in the needs of private banking customers.ZS Bank has changed from focusing on providing retail services to high-net-worth customers to providing more diversified comprehensive services of "people,enterprises and society" to private banking customers and the companies behind them,building a three-dimensional service network for high-net-worth customers,and always paying attention Customer demand.After 15 years of intensive cultivation,ZS Bank Private Bank has become the largest private bank with the most complete business system in China.However,huge structural changes have taken place in the high-net-worth population driven by the new economy,and the needs of high-net-worth customers have become more diversified,which has brought great challenges to ZS Bank’s private banking.Therefore,ZS Bank should re-establish its competitive strategy based on the new customer portrait to maintain its leading position and bring customers a better and more professional wealth management experience.Based on the above research background,this paper takes the private bank of ZS Bank as the research object,through the financial data and related theoretical research of the private bank of ZS Bank in recent years,summarizes its business development process and development status,and combines Porter’s five forces model,SWOT research analysis method and other strategic tools to analyze the internal and external environment faced by the development of ZS Bank’s private banking business,and obtain the opportunities and threats faced by the development of ZS Bank’s private banking business,as well as the existing advantages and disadvantages;the analysis shows that ZS Bank’s private banking business Competitive strategy,the strategy implementation focuses on product,service,marketing differentiation and low-cost strategy,make good use of digital technology,strengthen risk management,and focus on talent team construction;finally put forward organization guarantee,human resource guarantee,risk management guarantee,enterprise Cultural Guarantee Four guarantee measures ensure the healthy and orderly development of ZS Bank’s private banking business.It is hoped that through the research conclusion of this paper,the competition strategy of ZS bank’s private banking business can be concluded,which can continue to lead in the fierce competition,and can also provide some reference and reference for the development of private banking business.