​The Differential Breakthrough Path of Private Banking Business of Small and Medium-Sized Banks from the Resource-Based Perspective

The Differential Breakthrough Path of Private Banking Business of Small

and Medium-Sized Banks from the Resource-Based Perspective

Zhang Jing^1,*Zhang Zhuo¹

（1.School of Business, Macau University of Science and Technology, Macau China,999078）

Abstract: With the continuous accumulation of household wealth and the rapid expansion of the high-net-worth (HNW) population, private banking has become a strategic core for the transformation and development of commercial banks. However, small and medium-sized banks (SMBs) face severe structural competitive disadvantages under resource constraints. Based on the Resource-Based View (RBV) and Synergy Theory, this paper constructs an analytical framework of “strategic positioning — dilemma diagnosis — breakthrough paths” to systematically analyze the strategic nature of private banking and the specific dilemmas of SMBs. The research shows that private banking is a strategic platform for integrating scarce client resources and realizing the “private-to-institutional” value chain extension, yet the industry exhibits a highly concentrated head effect. SMBs suffer from systematic deficiencies in brand, licensing, talent, and technology, which, combined with regional constraints on client structure and organizational models, hinder the realization of synergy effects. Further integrating Life-Cycle Theory and Behavioral Finance, this paper proposes that SMBs should build differentiated breakthrough paths through three dimensions: talent specialization, platform integration, and client stratification, providing theoretical support and practical guidance for the high-quality development of private banking in SMBs.

Keywords: Private Banking; High-net-worth Individuals; Resource-based View; Synergy Effect; Small and Medium-sized Banks

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