Banking regulator: Banks should return to traditional business

China Banking Regulatory Commission chairman Liu, 15th, said in the "2009 Lujiazui Forum," the Bank should return to the traditional business, external package business, it business, compensation system and other restructuring to reduce costs and improve efficiency. All financial institutions, including banking, securities and insurance, should, through this crisis, seriously reflect on the problems of structure and exposure, and implement the strategy of reorganization.　　In addition, financial institutions should implement the strategy of simplification and innovation. Mr Liu stressed that the strategic reorganization includes three main points: first, the reorganization of the Business portfolio optimization. American and European financial institutions in the midst of this crisis, the lesson of blood taught us that we must really turn to the commercialization of traditional business restructuring.　　Take the banking industry as an example, should focus on the traditional deposits, loans, remittance business, as well as credit cards, International Settlements, fixed income projects, such as the main business services. Second, the implementation of reorganization around productivity improvement. The starting point and foothold of reorganization is to reduce costs and improve efficiency. This year, financial institutions, especially banking institutions, have been under a lot of pressure for profit growth.　　In this case, the effort should be focused on the improvement of productivity around the implementation of restructuring. Third, the formation of synergies around the implementation of reorganization. China's current financial institutions, most of which still take the department system, different departments of products by different executives responsible for each other, it is difficult to form a synergistic effect. Now more emphasis should be placed on customer-centric, departmental settings, product design implementation process reengineering and thorough reorganization, truly around the convenience of customers, to meet customer needs, rapid response to changes in customer needs.