Saturday, 25 May 2024

Best Wealth Management Bank in China - China Merchants Bank

5 min read

By The Asian Banker

In 2021, the award-winning bank launched its Wealth Open Platform that brought together excellent partners, expanded the product line, and adapted to the differentiated needs of customers. As of July 2021, more than 40 institutions have settled on the Wealth Open Platform, and the total assets of the bank's retail customers under management have exceeded $147 billion (RMB one trillion).The bank built last year a mobile wealth assistant to provide customers with professional advisory services. As of the end of June 2021, the bank's total asset under management of retail customers amounted to $1.4 trillion (RMB 9.9 trillion), an increase of 11.67% over the end of the previous year, and the total assets under management of private banking customers $456 billion(RMB3.1 trillion), an increase of 12.78% over the end of the previous year. The retail wealth management fee and commission income was $2.7 billion (RMB18.9 billion), a year-on-year increase of 32.60%, accounting for 60.01% of the retail net fee and commission income. At the same time, the award-winning bank integrated environmental, social, and governance (ESG) concepts into the daily work of business and functional departments, working with stakeholders to improve the bank's ability to fulfill social responsibilities and manage ESG risks. The Best Wealth Management Bank in China award goes to China Merchants Bank

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