New Measures for the Construction of ABC's Retail Outlets

In 2009, ABC will take the overall deepening of its shareholding reform as an opportunity to fully promote the strategic transformation of its retail business. It will restructure its retail business sector and set up a private banking department to build a top-class retail bank in China.

To ensure that this strategic goal is achieved, ABC has clearly proposed that within the year it will have built five private banks, 15 Jinshi wealth management centers, and 500 Jinshi financial management centers; more than 20% of outlets in urban areas will be developed into flagship outlets and wealth management outlets; by the end of the year, the proportion of electronic channel business volume will reach over 45%.

In the near term, the Personal Business Department of the head office of ABC will be restructured into the Personal Finance Department. The bank requires that all branches at various levels make corresponding adjustments to the organizational structure of their retail businesses, establish a retail sector from the top down, and implement the administration of the retail sector under the charge of one bank leader, thus further enhancing the overall marketing ability, customer relationship management ability, risk control ability, and development innovation ability of the retail business.

Business outlets are the most important distribution channels and service platforms for commercial banks. Outlet transformation is the most important part of retail business transformation.