China Merchants Bank’s (CMB) private banking
business grew its client base 15% in the first six months of 2011,
with assets under management (AuM) jumping 17%.

The results are in step with projections made
by CMB vice president Ding Wei in April.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Earlier this year, Ding said assets and
customer base of the private banking portion were forecast to grow
more than 35% year-on-year in 2011.

AuM is now understood to be close to
$50bn.

 

CMB boosts private banking centres to
22

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CMB said in its interim results that it had
also introduced a localised global assets allocation model for
high-end customers.

CMB has 22 private banking centres in 18 major
cities across the country, an increase of three in the past six
months.

CMB’s wealth management business, which serves
its mass affluent customers, reported income of RMB559m ($88m) for
the first half of 2011, representing 65% year-on-year growth.

In May, CMB won the “Best Private Bank China”
Award by Private Banker International.