China city commercial banks seek share of private banking business
Need for caution on potentially unbalanced cost-income ratios and other obstacles may hamper city commercial banks’ private banking efforts.
Date: Nov 28, 2012
Author: Alice Yang
Categories: China, Retail Banking, Wealth Management
Keywords: Private Banking, HNWI, Bank of Beijing, Chengdu Rural Commercial Bank, Bank of Shanghai, Hangzhou Bank
With the predicted number of HNWIs with investable assets over $1 million in China reaching 2 million by 2015, and in light of the private banking business set to become the next profit growth point in the country, it’s not hard to understand that city commercial banks in China are proactively joining the fight for a share of the business now. To date, four city commercial banks that have…