Asiamoney China Retail Banking Awards

Ping An Bank is widely perceived as a leading provider of car finance, not only because of the robust growth it has seen in this business area but also for the leadership it has demonstrated in adopting technologies that facilitate car finance services and control the risks in the business.

As a big bank issuer of credit cards in China, China Merchants bank stood out because of the rapid expansion of its customer base for credit cards and for its customers’ active use of the cards.

Bank of Ningbo was incorporated in Ningbo, a port city in east China’s Zhejiang province, in 1997 and operates mainly in Zhejiang and Jiangsu provinces and in Shanghai.

Despite its massive operations, ABC has proved itself to be a nimble player in transforming and strengthening its retail banking business with the use of technology and a management upgrade. That enabled the bank to outperform other state-owned banks across segments of retail banking in the first three quarters of 2018.

China’s retail banks must overcome their own inertia and challenges from fintech if they are to maintain profitability

China Construction Bank started offering integrated retail banking services for affluent individuals and families under its ‘Golden Butler’ brand in 2013 and has succeeded in expanding the customer base in 2017.

Postal Savings Bank of China has long led other Chinese banks in making its financial services available to individuals and small businesses in the country’s economically underdeveloped rural and inland regions. The bank also stands out for its willingness to go the extra mile to serve customers in these regions.

For decades the Chinese government has repeatedly urged domestic banks to find ways to serve micro businesses to boost job creation and economic growth. But the banks have been hesitant because of the enormous costs and high risks involved.

Compared with other national commercial banks in China, China Merchants Bank has built the largest and the most competitive retail banking operation. Last year, the bank strengthened its position as the best performer in the retail banking sector.