Asiamoney China Private Banking Awards

Few Chinese lenders can compete at any level with the global scale and reach of ICBC’s investment products. The Beijing-based lender’s private banking division is often at the front of the queue when it comes to rolling out new services. It was the first mainland lender to launch a global investment fund in Luxembourg. Likewise, it was one of the first Chinese banks to establish an overseas investment fund platform.

Part of the widely respected Ping An Group, which started out in insurance before expanding its remit to include asset management and banking, Ping An Private Banking, led by Bonnie Lam, has chosen to focus heavily on high-end clients.

China Citic Bank is far from being the mainland’s largest lender, but what it does – specifically, providing elite financial advice to high net-worth clients in China and beyond – it does very well.

Shenzhen-based China Merchants Bank boasts 49 private banking centres across 30 cities, including in Hong Kong and New York, staffed by more than 1,000 professionals. Assets under management totalled Rmb1.42 trillion ($205 billion) at end-June 2016, up 13.7% year on year.

Staff numbers at ICBC’s private bank have risen from just 100 in 2008, the year the bank secured the first onshore private banking licence in China, to 5,000 today, serving 76,000 high-net-worth individuals and more than 1,300 ultra-high net-worths, with cumulative assets of Rmb1.2 trillion ($175 billion). In the six months to end-June 2016, total client assets under management jumped 22%.

China’s private banking industry is growing in leaps and bounds. In recognition of China’s advances in the field, Asiamoney is proud to announce the winners of its awards for best mainland private banks