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Financial Gain to be Returned to the People

2007-9-12

 

Wang Chunxia, First Financial Daily

We hope that the brand " Minsheng " will become the soul of this bank, said straight by Wan Qinyuan, the deputy general manager of Corporate Culture Department of CMBC during an interview with "First Financial Daily".

Since late last year, the CMBC launched a massive and systematic planning of the brand to trim views of the people on brand and corporate culture of CMBC by conducting interviews and investigation with management and internal staff and customers through third-party agencies. After six months of summary, a final and complete brand plan of CMBC is formed combining fostering and improving value creation with every aspect of management and decision-making, management and operation of the commercial banks.

The very first thing that Dong Wenbiao, the chairman of the CMBC, did when assuming office was brand planning of CMBC. In our "Five-Year Development Program", nine requirements are proposed including a large chapter on brands, said Wan Qinyuan. 

"First Financial Daily": "Minsheng Bank brand IX" proposes that CMBC's brand and belief is "we do finance in good faith and contribute to people’s livelihood", can you elaborate specifically how can you do "we do finance in good faith and contribute to people’s livelihood"?

Wan Qinyuan: We think CMBC as a financial enterprise should be full of love and not to distance people. CMBC hopes to become the preferred bank of customers, of employees, of shareholders and of the community, which is our vision.

As to “we do finance in good faith”, we believe that the modern financial services sector have their own development laws and relatively mature system. China’s financial culture with a history of thousands of years has its excellent, unique "money philosophy" based on a balanced development and the social philosophy. By inheriting the tradition of outstanding financial culture and grasping the modern laws of the development of the financial industry, CMBC do innovation and practice in the financial field to better serve the people.

As to “contribute to people’s livelihood", we understand: When we explore the laws and relation of banking operations and the people's livelihood based on our brand practice, we associate financial products and services with multiple needs of clients in an emotional manner.

The essence of the brand philosophy is "respect for the rules of life". The main content of the rules of life is "dependent mutually”: existence, lives, conditions and environment are all complementary. System of dependent lives makes life perfect and harmonious. So we can better understand that caring for people's livelihood is caring for people, social survival, the country's livelihood, people's life and the ecological environment, all are about how to establish a social relationship.

"First Financial Daily": how do you see impact of bank's brand strategy on the bank?

Wan Qinyuan: speaking of the organization, a brand is a commitment of business to consumer. Feedback of the commitment from the consumers becomes a brand. We must first create brand differentiation with special characteristics. Banks’ competition of homogenization will be hard to change in a short period of time. It is difficult to gain long-term advantage via product priority. As banking sector open more fully, the bargaining power will become the competitiveness of banks where the service capacity and bargaining power of the brand is an important support. Good Branding and reputation can naturally create form competitiveness.

 

 

 

 

 

 

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