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Asian Private Banker: China's Top 10 private banks average 35% AUM growth rate since 2012

2017-09-27 15:56
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HONG KONG, Sept. 27, 2017 /PRNewswire/ -- China's Top 10 private banks accounted for over RMB 7.5 trillion in client assets at the end of 2016, a year-on-year increase of almost 22% and an average growth rate of 35%, according to Asian Private Banker, which today releases the most comprehensive data set pertaining to China's onshore private banking industry to date.

Assets under management (AUM) growth for China's Top 10 private banks also outpaced Asia's (ex-China onshore) Top 20 private banks, whose client assets climbed by just 6.1% over the same period.

As expected, China's domestic retail banking giants dominate the onshore market and rankings. China Merchants Bank (CMB) Private Banking leads the pack with over RMB 1.6 trillion in assets under management, followed closely by Industrial and Commercial Bank of China (ICBC) Private Banking and Bank of China (BOC) Private Banking, with RMB 1.2 trillion and RMB 1 trillion respectively at the end of 2016.

Combined, China's Top 10 private banks employed 6,904 relationship managers (RMs) in 2016, although not all RMs are private banking-specific with many banks using retail RMs to service private banking clients. Furthermore, the total number of private banking clients reached just under 475,000 and combined tier-one private banking branches increased from 331 in 2015 to 347 in 2016.

2016 China Top 10 private banks: AUM (RMB billion)

  1. China Merchants Bank (CMB) Private Banking …… RMB 1,659.5
  2. Industrial and Commercial Bank of China (ICBC) Private Banking …… RMB 1,208.4
  3. Bank of China (BOC) Private Banking …… RMB 1,000.0
  4. Agricultural Bank of China (ABC) Private Banking …… RMB 818.4
  5. China Construction Bank (CCB) Private Banking …… RMB 786.3
  6. China International Capital Corporation (CICC) Wealth Management …… RMB 618.8
  7. Bank of Communications (BOCOM) Private Banking …… RMB 466.5
  8. Shanghai Pudong Development Bank (SPD Bank) Private Banking …… RMB 346.8
  9. China CITIC Bank (CITIC) Private Banking …… RMB 321.2
  10. China Minsheng Bank Corp. (CMBC) Private Banking …… RMB 296.8

Total AUM (of the Top 10 private banks): …… RMB 7,522.7

Source: All figures based on Asian Private Banker estimates and published data

For the full historical data set, visit http://apb.news/china2016aum (English) and http://apb.news/aum2016china (Chinese)

ASIAN PRIVATE BANKER

Asia's largest and best-connected bureau of journalists and researchers delivering independent, authoritative and indispensable intelligence, data and connections solely focused on Asia's rapidly growing private wealth management communities.

We distil Asia's authoritative private wealth industry news, data and research, which is then delivered through several platforms:

IF YOU HAVE ANY QUESTIONS ABOUT THIS DATA, PLEASE CONTACT

Sebastian Enberg - Editor
Telephone: (+852) 2529 7377
Email: sebastian.e@asianprivatebanker.com

IF YOU HAVE ANY GENERAL QUERIES, PLEASE CONTACT

Gigi Lam - Editorial Executive
Telephone: (+852) 2529 4777
Email: gigi.l@asianprivatebanker.com

Source: Asian Private Banker

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