Banking On A New Model

City National Bank aspires to transform itself from a bank that generates revenues primarily from commercial real estate loans to one that offers a suite of higher-quality consumer and small business loans. But this transformation isn't just about boosting the bottom line -- it's about fun...

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Bibliographic Details
Published in:	Black enterprise 2012-09, Vol.43 (1), p.48-50
Main Author:	Hughes, Alan
Format:	Magazinearticle
Language:	eng
Subjects:	Addictions Banking industry Business Business models Case studies Commercial real estate loans Community development banks Customers Economics Entrepreneurs Financial institutions Financial services Lenders Logos National banks Retail banking Small business loans Social networks Teaching Training Turnaround management
Online Access:	Get full text
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Summary:	City National Bank aspires to transform itself from a bank that generates revenues primarily from commercial real estate loans to one that offers a suite of higher-quality consumer and small business loans. But this transformation isn't just about boosting the bottom line -- it's about fundamentally changing the bank's business model so the institution can survive in an environment where the old rules no longer apply. Capital is a bank's lifeblood. But during the throes of the Great Recession, capital dried up as unemployment rose. Responding to those challenges, City National's management developed a plan to land that much-needed capital by transitioning away from serving primarily as a real estate lender and moving toward serving as a community-focused provider of an array of financial services. To that end, City National's board and management team took the following steps to rebrand the bank and increase its appeal to consumers: 1. Updated the corporate logo. 2. Introduced online banking. 3. Developed plans to use social media. [PUBLICATION ABSTRACT]
ISSN:	0006-4165 2691-5510