Sunday, 25 September 2022

Best City Commercial Retail Bank in China - Bank of Beijing

5 min read

By The Asian Banker

The winning bank’s retail business grew rapidly in 2021, with retail contribution to its total income significantly increased. By the end of 2021, both retail deposit and loan balance achieved double-digit growth, with assets under management (AUM) reaching $15.7 billion (RMB100 billion), 1.8 times the number in 2020. Total retail customer number exceeded 25 million, a year-on-year growth of 9%. 

To increase its active digital customer base, the bank created what it called "ecological + financial" solutions that integrated its payment solution into external platforms such as WeChat mini programmes, and introduced non-financial services on its mobile app.  Its digital customers accounted for 63% of its total retail customers in 2021; 55% of its new customers were also onboarded digitally last year. The bank commanded the highest return on equity (ROE) of 13.5% among its peers in China. The Best City Commercial Retail Bank in China award goes to Bank of Beijing



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