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In the first half of 2013， the de- crease in net profits did not only occur to Chinese banks， but also warned the Chinese branches of several foreign banks.
The underperformance， as well as the great number of limitations and the small number of business spots， forced foreign banks to adjust their operating strategies in China. For example， some banks represented by Deutsche Bank reduced or even closed their retail business while some altered the retail strategies based on their own operating conditions.
Cut off “Tails” to Survive
When the interest rate is more likely to be market-oriented， several new fields in China are going to be open to foreign banks. Those well-established financial giants that have accumulated a lot of experiences will doubtlessly become more competitive in China. Chinese banks， reversely， will loose a bit of their advantages and face a great challenge.
But before the good wish really comes true， foreign banks were at first met with a series of challenges. In August， Deutsche Bank closed its Beijing Huamao Branch， its last branch in China that was still engaged in retail business. From then on， Deutsche Bank officially quitted its retail business in China.
Deutsche Bank is not the only foreign bank that has withdrawn from the retail business in China. After the outbreak of financial crisis， foreign banks， which were the primary victims of the crisis， launched worldwide strategies of shrinking their business. The European banks， which were impacted by both the financial crisis and European debt crisis， were more specifically in the reorganization of assets and adjustment of strategies. Prior to Deutsche Bank， Royal Bank of Scotland fully quitted the retail banking business in China and committed itself to only the enterprise customers and wholesale business.
In March 2007， Deutsche Bank opened two retail banks in Beijing and Shanghai and applied for the qualification as the local legal representative. With that it officially launched the retail banking business in China， involving the services of private banking， personal credit and financial services for industrial and commercial enterprises. At that time， Deutsche Bank still had the ambition of building the retail banks in China into “comprehensive and allround banks”. However， six years has passed and Deutsche Bank had to turn around to the enterprise customers and investment banking business. Actually， Deutsche Bank began to shut down its retail banking business from the end of 2012. Presently， only a few branches of Deutsche Bank China had small deposits. It will not expand the retail banking business.
A source close to Deutsche Bank says that closing the retail banks does not mean that Deutsche Bank is going to stay out of the retail banking business forever. Huaxia Bank， a long partner of Deutsche Bank in China， watched and took part in every step of Deutsche Bank’s retail business in China. Deutsche Bank always believes that the cooperative pattern allows foreign banks to share the high-quality retail network of domestic banks and to use the experiences of international retail banking to a large platform swiftly and efficiently.
Differentiated Retail Strategies
Different from Deutsche Bank and Royal Bank of Scotland， some foreign banks chose to work on the retail banking business further. The expansion gives priority to the increasing number of business spots. In the first half of 2013， foreign banks were still reported to have more business spots in China. For example， Bank of East Asia opened two branches respectively in Ningbo and Jinan； Standard Chartered China established its 100th business spot in Guangzhou. HSBC opened two branches respectively in Nanning and Changshu and the branch in Yangzhou is going to be opened soon， which will become the 150th business spot of HSBC in China.
Deutsche Bank and others quit the retail banking business in China because of the unstoppable losses in that field. An insider from Deutsche Bank says that retail banking business needs to depend on the coverage of business network to generate profits. The losses will always happen until the number of business spots reaches a certain level.
However， some practitioners of retail banking business do not think so.
Ms Zhou Man， who was the executive director of United Overseas Bank China and General Manager of its Private Banking Service， says that foreign banks never give priority to increasing the number of business spots. Nor have they wanted to cover every kind of customer in China. For example， United Overseas Bank of China’s retail business mainly targets the high-end private clients with over RMB 1 million of disposable assets.
Zhou Man says that United Overseas Bank China has three major points concerning the strategy of its retail business in China. The first point is concentration as the bank chooses the developed coastal cities of China for the market expansion. The second point is the high-quality services for high-class clients. The third point is to make use of its advantages as its parent company is located in Asia， based on which it can launch regional cooperation business. More Competitive in the Future
Presently， some new fields in China are gradually opening their doors to foreign banks with the ongoing financial reform and RMB internationalization.
Good news emerged one by one to excite the foreign banks. At the end of this June， the Shanghai Securities Regulatory Commission published the first batch of foreign banks that have got the qualification of selling the funds on the commission basis. HSNC， Bank of East Asia， Citibank， Standard Chartered， DBS Bank， Hangseng Bank and United Overseas Bank found their names in the list. In the field of sovereign debt futures， Chinese government will allow qualified foreign banks to take part in the sovereign debt futures trade according to the report from the U.S.-China Strategic and Economic Dialogue. In addition， the detailed plan of the free trade zone in Shanghai has already been approved and foreign banks might be allowed to set up branches or subsidiary companies in the free trade zone without waiting a long time for the examination and getting the approval.
These changes will expand the business scope of foreign banks and bring numerous benefits for investors. Guo Tianyong， Director of the Financial Research Center at the Central University of Finance & Economics， says that foreign banks’ joining in the ranks of selling funds can somewhat relieve the stress placed on the distribution channels of funds. The new players will enhance the competition， lower the commissions and other cost， which will be good for the strategic change of the entire industry.
The underperformance， as well as the great number of limitations and the small number of business spots， forced foreign banks to adjust their operating strategies in China. For example， some banks represented by Deutsche Bank reduced or even closed their retail business while some altered the retail strategies based on their own operating conditions.
Cut off “Tails” to Survive
When the interest rate is more likely to be market-oriented， several new fields in China are going to be open to foreign banks. Those well-established financial giants that have accumulated a lot of experiences will doubtlessly become more competitive in China. Chinese banks， reversely， will loose a bit of their advantages and face a great challenge.
But before the good wish really comes true， foreign banks were at first met with a series of challenges. In August， Deutsche Bank closed its Beijing Huamao Branch， its last branch in China that was still engaged in retail business. From then on， Deutsche Bank officially quitted its retail business in China.
Deutsche Bank is not the only foreign bank that has withdrawn from the retail business in China. After the outbreak of financial crisis， foreign banks， which were the primary victims of the crisis， launched worldwide strategies of shrinking their business. The European banks， which were impacted by both the financial crisis and European debt crisis， were more specifically in the reorganization of assets and adjustment of strategies. Prior to Deutsche Bank， Royal Bank of Scotland fully quitted the retail banking business in China and committed itself to only the enterprise customers and wholesale business.
In March 2007， Deutsche Bank opened two retail banks in Beijing and Shanghai and applied for the qualification as the local legal representative. With that it officially launched the retail banking business in China， involving the services of private banking， personal credit and financial services for industrial and commercial enterprises. At that time， Deutsche Bank still had the ambition of building the retail banks in China into “comprehensive and allround banks”. However， six years has passed and Deutsche Bank had to turn around to the enterprise customers and investment banking business. Actually， Deutsche Bank began to shut down its retail banking business from the end of 2012. Presently， only a few branches of Deutsche Bank China had small deposits. It will not expand the retail banking business.
A source close to Deutsche Bank says that closing the retail banks does not mean that Deutsche Bank is going to stay out of the retail banking business forever. Huaxia Bank， a long partner of Deutsche Bank in China， watched and took part in every step of Deutsche Bank’s retail business in China. Deutsche Bank always believes that the cooperative pattern allows foreign banks to share the high-quality retail network of domestic banks and to use the experiences of international retail banking to a large platform swiftly and efficiently.
Differentiated Retail Strategies
Different from Deutsche Bank and Royal Bank of Scotland， some foreign banks chose to work on the retail banking business further. The expansion gives priority to the increasing number of business spots. In the first half of 2013， foreign banks were still reported to have more business spots in China. For example， Bank of East Asia opened two branches respectively in Ningbo and Jinan； Standard Chartered China established its 100th business spot in Guangzhou. HSBC opened two branches respectively in Nanning and Changshu and the branch in Yangzhou is going to be opened soon， which will become the 150th business spot of HSBC in China.
Deutsche Bank and others quit the retail banking business in China because of the unstoppable losses in that field. An insider from Deutsche Bank says that retail banking business needs to depend on the coverage of business network to generate profits. The losses will always happen until the number of business spots reaches a certain level.
However， some practitioners of retail banking business do not think so.
Ms Zhou Man， who was the executive director of United Overseas Bank China and General Manager of its Private Banking Service， says that foreign banks never give priority to increasing the number of business spots. Nor have they wanted to cover every kind of customer in China. For example， United Overseas Bank of China’s retail business mainly targets the high-end private clients with over RMB 1 million of disposable assets.
Zhou Man says that United Overseas Bank China has three major points concerning the strategy of its retail business in China. The first point is concentration as the bank chooses the developed coastal cities of China for the market expansion. The second point is the high-quality services for high-class clients. The third point is to make use of its advantages as its parent company is located in Asia， based on which it can launch regional cooperation business. More Competitive in the Future
Presently， some new fields in China are gradually opening their doors to foreign banks with the ongoing financial reform and RMB internationalization.
Good news emerged one by one to excite the foreign banks. At the end of this June， the Shanghai Securities Regulatory Commission published the first batch of foreign banks that have got the qualification of selling the funds on the commission basis. HSNC， Bank of East Asia， Citibank， Standard Chartered， DBS Bank， Hangseng Bank and United Overseas Bank found their names in the list. In the field of sovereign debt futures， Chinese government will allow qualified foreign banks to take part in the sovereign debt futures trade according to the report from the U.S.-China Strategic and Economic Dialogue. In addition， the detailed plan of the free trade zone in Shanghai has already been approved and foreign banks might be allowed to set up branches or subsidiary companies in the free trade zone without waiting a long time for the examination and getting the approval.
These changes will expand the business scope of foreign banks and bring numerous benefits for investors. Guo Tianyong， Director of the Financial Research Center at the Central University of Finance & Economics， says that foreign banks’ joining in the ranks of selling funds can somewhat relieve the stress placed on the distribution channels of funds. The new players will enhance the competition， lower the commissions and other cost， which will be good for the strategic change of the entire industry.