China Construction Bank (CCB) has reported a sharp rise in the number of HNW clients it handles.
The bank announced in its 2011 annual results that the number of clients it has with more than RMB10m ($1.6m) grew by 28% last year.
However CCB did not publish any information about the income, profits, or the size of its asset or client base in its private banking unit.
CCB said it has diversified the services it offers high-end customers, implementing a wealth transaction model which allows private banking customers to use a telephone pass code to authorise various transactions over the phone.
Clients can telephone their account managers directly and make transaction requests for transfers, remittances as well as the purchasing of treasury bonds and financial management products.