16 private banks report PK Trillion Club to 6
Sino-Singapore Jingwei Client, September 21st (Wei Wei) Most people are often curious about how many rich people are in the country. The major wealth rankings have dazzling rankings every year, but the ones who know the wealth list best It is none other than the bank.
In the financial reports disclosed by listed banks, private banks do not account for much, but their contribution to the bank's profits cannot be underestimated.
In the first half of this year, despite the impact of the epidemic on the economy, data from 16 comparable listed banks reported by the Sino-Singapore Jingwei Client showed that the total asset management (AUM) of private banks reached RMB 13.96 trillion, compared with the end of the previous year. An increase of 1.51 trillion yuan, an increase of 12.16% year-on-year.
The threshold for more than 800,000 private banking customers starts at 6 million
Banks have their own "customer pyramid". In the notes of a bank's interim report, customers are divided into VIP customers, wealth customers, high-net-worth customers, and private banking customers. The corresponding personal financial assets are the monthly and daily average (Note: One month Average daily) 200,000-600,000 yuan, 600-300,000 yuan, 3-6 million yuan and more than 6 million yuan.
Private banking customers are undoubtedly at the top of the pyramid.
On April 7 this year, @张小波, a well-known domestic bookseller and chairman of Phoenix Link, spit on Weibo. He went to a bank to increase the daily transfer limit of 5 million for his debit card. The teller showed a contemptuous attitude towards him. In anger, he transferred hundreds of millions of structural deposits in this bank.
Some netizens commented: No, there is no private banking service?
More than 5 million should be served by a dedicated person.
Afterwards, Zhang Xiaobo replied in the comments, and the president was on his way after hearing this.
From this turmoil, it is not difficult to see the importance of banks to large customers.
But how high is the threshold for private banking in netizens’ comments?
In the "Administrative Measures for the Sales of Wealth Management Products of Commercial Banks," private bank customers are defined as "commercial bank customers with a financial net asset of RMB 6 million and above."
In fact, the thresholds of various banks are not consistent.
The Sino-Singapore Jingwei client combed the interim report and found that China Merchants Bank has the highest threshold for private banking, which is "retail customers with total assets of 10 million yuan and above on a monthly basis"; ICBC's statistical caliber is "financial assets reach 8 million. Customers whose daily average monthly financial assets reached 6 million yuan and above in half a year; Shanghai Pudong Development Bank has an average daily AUM of more than 5 million yuan in 2019, but this threshold is quietly raised to 8 million in 2020 In contrast, Minsheng Bank reduced the statistical caliber from 8 million yuan to 6 million yuan.
Most other listed banks are more than 6 million yuan.
What everyone is most concerned about is how many private banks have customers?
Excluding the Bank of China that did not disclose data in the interim report, the interim report data of 15 banks calculated by the Sino-Singapore Jingwei client showed that the total number of customers of these 15 banks reached 826,700 in the first half of 2020, compared with 749,700 at the end of the previous year. An increase of 77,000 households, an increase of 10.27%.
Among them, the number of customers of China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China ranks in the forefront. The total assets per household of China Merchants Bank are the highest, reaching 27,433,600 yuan, an increase of 117,000 yuan from the end of the previous year.
Trillion customer asset clubs increased to 6
Despite the sudden outbreak of the epidemic this year, the scale of private banking operations of various banks continued to increase in the first half of the year.
According to incomplete statistics from the Sino-Singapore Jingwei client, the private bank AUM disclosed in the 2020 semi-annual reports of 16 comparable listed banks totaled 13.96 trillion yuan, an increase of 1.51 trillion yuan from the end of the previous year, an increase of 12.16% year-on-year.
In this regard, Huang Dazhi, a senior researcher at the Suning Institute of Financial Research, pointed out to the Sino-Singapore Jingwei Client, on the one hand, with the reform of the capital market, more and more companies are listed, which will lead to a certain degree of wealth creation effect, and then increase the high The number of net worth customers and the scale of asset management of private banking business; on the other hand, benefiting from the natural growth of income and wealth, although the epidemic has caused a certain degree of weak income growth, there is also a natural increase in residents' wealth.
At the same time, the impact of the epidemic on consumption in the first half of the year has become more pronounced, which will cause residents to increase investment and deposits, which will lead to an increase in wealth at the bank.
Specifically, China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China have private banks with a scale of more than RMB 1 trillion, with RMB 2.50 trillion, RMB 1.83 trillion, RMB 1.67 trillion, and RMB 1.63 trillion respectively, compared with the end of the previous year. Both maintained double-digit growth.
In addition, although Bank of China did not disclose private bank data in its interim report, the bank's private bank scale in the 2019 annual report has exceeded 1.6 trillion yuan.
On September 1, Cai Xinfa, special assistant to the governor of Ping An Bank, revealed at the interim performance briefing that “As of now, private banks have reached a scale of 1 trillion in customer assets. We plan to reach 2 trillion in two years.”
There are 5 companies with a scale of less than 1 trillion yuan and more than 500 billion yuan, namely Ping An Bank, Bank of Communications, China CITIC Bank, Industrial Bank and Minsheng Bank.
Among the 16 listed banks in the statistics, only SPDB’s private bank AUM dropped from 500 billion yuan at the end of 2019 to 450 billion yuan in the first half of 2020. However, it is not difficult to find out that this is mainly due to SPD Bank’s statistics on private banking customers. The caliber was increased from 5 million to 8 million.
Since the beginning of the year, various banks have begun to develop private banking efforts to tap high-net-worth customers.
At the performance conference in March, China Everbright Bank Chairman Li Xiaopeng introduced that China Everbright Bank plans to set up a private banking department, which will focus on private banking customer operations and asset management businesses. It plans to add a number of wealth management centers to provide wealth customer services and services. Cultivate and upgrade, and form a new pattern of gradual gradual and increased retail capacity.
Hua Xia Bank also revealed in its financial report that in 2020 the bank will formally establish a wealth management and private banking department to comprehensively upgrade its wealth management business.
Through the establishment of a professional service team, we will continue to enrich the financial product line, gradually build a value-added service system, and enhance the professional management and service capabilities of wealth business.
However, in sharp contrast to the above-mentioned banks, small and medium-sized banks such as city commercial banks and rural commercial banks have a large gap in the scale of private banking and the number of customers compared with large banks. For example, the number of private banking customers of Bank of Ningbo and Bank of Shanghai is 6866. And 4,098 households, none of them broke 10,000.
In this regard, Dr. Li Haijing, Private Bank of Evergrowing Bank, believes that private banking is highly customized and large state-owned banks have brand advantages. For city commercial banks or small and medium-sized banks, how to provide differentiated services based on the regional characteristics and needs of customer groups is the key .
"Based on the characteristics of foreign private bank business development, an investment advisor-oriented marketing service model is an inevitable trend. Small and medium banks that cannot yet be equipped with investment research teams can adopt outsourcing or cooperation with third-party investment research institutions to enhance their professional service capabilities. "Li Haijing said.
"Wealth inheritance" impresses the rich
As the saying goes, "the rich are only three generations."
In 2018, a research report released by McKinsey mentioned that service capabilities around family inheritance are becoming increasingly critical.
The post-60s and post-70s account for 70% of China's high-net-worth customers. As the first generation of wealth creators, wealth inheritance is gradually becoming one of their most concerned topics.
Liu Lin, who used to be an account manager in a joint-stock commercial bank, told the Sino-Singapore Jingwei client, “Private bank customers have their own account manager. He is like a personal butler, understanding the customer’s family members and needs, and providing customers with customized Services to help customers continue the family, such as understanding whether your children have plans for studying abroad, and then co-organizing study abroad program guidance activities with study abroad institutions."
Sino-Singapore Jingwei Client found in the semi-annual report that many banks are trying to launch family trust business.
For example, ICBC stated that it launched a family trust business in the first half of this year and successfully signed the first fund-based family trust.
CCB disclosed that the bank has steadily promoted its family office business, launched fully entrusted asset management, customized services for family funds, and has a family trust advisory business with an asset management balance of 32 billion yuan.
Ping An Bank said that the bank has launched offshore family trust services for high-net-worth customers, and has conducted pilot operations in accordance with the family office model for high-net-worth customers and listed company directors, supervisors and senior customers.
In addition, digitization has also become a highlight of private banks.
CCB pointed out that it will promote the construction of digital operation capabilities such as private data, CCB e-Private Bank, and customer manager intelligent work platform, and promote the refined management of private banking centers and the construction of middle-station empowerment.
China Merchants Bank stated that it will deepen the use of financial technology and accelerate the process of digital empowerment in terms of precise identification of customer needs, provision of professional financial solutions, professional ability training of customer managers, and internal operating procedures.
(Zhongxin Jingwei APP)
(At the request of the interviewee, Liu Lin is a pseudonym in the article.)
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