The annual report of the bank reveals the "secret" of wealth. Have you made a deposit?
Recently, a number of banks released their 2021 performance reports.
A reporter from Beijing Youth Daily noticed that the annual report of China Merchants Bank showed that as of the end of last year, China Merchants Bank’s retail customer assets under management (AUM) exceeded the 10 trillion yuan mark for the first time; individual customers with an average daily asset of more than 500,000 yuan only accounted for 10% of the total number of customers. 2.12%, but contributed more than 80% of the assets under management.
In addition, the annual reports of Ping An Bank and China Everbright Bank also show similar characteristics to those of China Merchants Bank, that is, although the number of wealthy customers with a balance of assets under management of more than 500,000 yuan is relatively small, they contribute more than 70% of the bank's retail customer AUM.
China Merchants Bank Retail Customers
Asset balance exceeds 10 trillion yuan
According to the annual report of China Merchants Bank, as of the end of last year, China Merchants Bank had 173 million retail customers (including debit and credit card customers), an increase of 9.49% over the end of the previous year. Retail customers with RMB 10,000 and above) 3.672 million, an increase of 18.38% over the end of the previous year.
As of the end of the reporting period, the balance of total assets of retail customers managed by China Merchants Bank was 10759.170 billion yuan, an increase of 20.33% over the end of the previous year.
Among them, the balance of total assets of customers with golden sunflower and above managed by China Merchants Bank was 8,836.409 billion yuan, an increase of 20.30% over the end of the previous year.
For the whole year of 2021, the total asset balance of customers with golden sunflower and above will increase by 1.49 trillion yuan.
It is not difficult to calculate that as of the end of last year, China Merchants Bank’s 173 million individual customers had per capita financial assets of 62,100 yuan. Among them, only 2.12% of the customers with golden sunflower and above had per capita assets of 2.4076 million yuan, and their total assets accounted for all of China Merchants Bank’s assets. 82% of total retail client assets.
Sunflower customers
Assets per capita 1.53 million
Private banking customers are the most high-end and wealthiest individual customer groups of various banks, and the mainstream market threshold is RMB 6 million.
China Merchants Bank has always required private banking customers to have an average monthly total assets of 10 million yuan and above, which is much higher than that of its peers.
According to the annual report of China Merchants Bank, as of the end of 2021, the AUM of China Merchants Bank's private banking customers reached 3.39 trillion, accounting for 31.54% of the AUM of China Merchants Bank's retail customers, breaking the 3 trillion mark for the first time, a net increase of 0.62 trillion over the previous year.
At the same time, the number of private banking customers of China Merchants Bank reached 122,100, accounting for 0.07% of the total number of personal customers of China Merchants Bank.
The calculation shows that the per capita AUM of China Merchants Bank's private banking customers is as high as 27.8043 million yuan.
In China Merchants Bank, individual customers whose monthly average total assets exceed 500,000 yuan but less than 10 million yuan are generally Sunflower customers.
A reporter from Beiqing Daily found that as of the end of last year, the number of CMB Sunflower customers was about 3.55 million, accounting for 2.05% of all individual customers of CMB; the AUM of Sunflower customers was about 5.44 trillion yuan, accounting for 50.58% of retail customers AUM, and the per capita AUM was about 5.44 trillion yuan. It is about 1.53 million yuan, which is three times the threshold of 500,000 yuan.
Except for Sunflower and Private Banking customers, nearly 98% of the remaining personal customers of China Merchants Bank have assets below RMB 500,000. The total assets of these 169 million customers in China Merchants Bank are about RMB 1.92 trillion, accounting for nearly 18% of the AUM of all personal customers. The per capita assets are only 11,400 yuan.
China Merchants Bank Retail AUM
Financial products account for nearly 30%
How do individual customers of China Merchants Bank manage their wealth management through China Merchants Bank?
According to the data disclosed in the annual report of China Merchants Bank, as of the end of 2021, China Merchants Bank’s retail deposits were 2.17 trillion yuan, of which demanded 1.48 trillion yuan and fixed time 0.69 trillion yuan, accounting for 68.20% and 31.8% of all deposits respectively.
In addition, China Merchants Bank's retail wealth management contributed about 28% of the AUM of all retail customers; agency sales of funds, insurance, trust and other businesses contributed more than 51% of the AUM of all retail customers.
Therefore, the growth of China Merchants Bank's retail customer AUM was mainly driven by agency sales.
According to the annual report of China Merchants Bank, as of the end of 2021, the number of customers holding positions in China Merchants Bank wealth products was 37.7866 million, an increase of 29.68% from the end of the previous year.
During the reporting period, China Merchants Bank proactively adjusted its asset allocation structure and increased the supply of wealth management products according to changes in customers’ risk preferences. At the end of the period, the balance of retail wealth management products was 3,003.852 billion yuan, an increase of 35.48% over the end of the previous year; the sales of agency non-monetary public funds reached 608.035 billion yuan. , down 0.44% year-on-year; the sales of agency trust products were 415.141 billion yuan, down 11.51% year-on-year; agency insurance premiums were 77.073 billion yuan, down 8.26% year-on-year.
During the reporting period, China Merchants Bank realized a retail wealth management fee and commission income of RMB 33.750 billion, of which the agency fund income was 12.795 billion yuan, the agency insurance income was 7.976 billion yuan, the agency trust plan income was 6.910 billion yuan, and the agency wealth management income was 5.874 billion yuan. Precious metal income was 195 million yuan.
Ping An Bank and China Everbright Bank
More than half of time deposits
Ping An Bank has 1.0301 million wealth customers with per capita assets of more than 500,000 but less than 6 million, accounting for less than 0.9% of the total number of customers; this part of the customers of China Everbright Bank also exceeded 1 million last year, accounting for about 0.7%, but its AUM exceeded 1 trillion yuan, accounting for nearly 50% of retail customer AUM.
In terms of private banking, Ping An Bank has nearly 70,000 private banking customers, accounting for 0.06% of the total number of personal customers. The AUM of private banking customers is 1.4 trillion yuan, accounting for 44.18% of the total retail customer AUM, with an average of 20.1735 million yuan per capita; At the end of last year, the number of private banking customers exceeded 50,000, accounting for only 0.04% of the total. The AUM of private banking customers exceeded 500 billion yuan, accounting for 23.61%, with an average of 10 million yuan per capita.
Judging from the asset allocation of individual customers, there are great differences among banks.
Only 20% of the assets of China Merchants Bank's personal customers are deposits, of which nearly 70% are demand deposits, and time deposits account for only about 30%, while the personal customers of Ping An Bank and China Everbright Bank prefer time deposits.
According to the annual report data, at the end of last year, the balance of personal deposits of Ping An Bank was 770.365 billion yuan, accounting for 24.2% of the AUM of retail customers, of which demand deposits were 242.533 billion yuan and time deposits were 527.832 billion yuan, accounting for 31.48% and 68.52% of deposits respectively. .
At the end of 2021, the retail AUM of China Everbright Bank exceeded 2 trillion yuan, of which the balance of personal deposits was 853.293 billion yuan, accounting for 42.66%; demand deposits were 251.44 billion yuan, accounting for 29.47% of deposits; time deposits were 601.853 billion yuan, accounting for 70.53% of deposits %.
The wealth management scale of Everbright Bank exceeded 1 trillion yuan, an increase of 27.67% over the end of the previous year, accounting for half of the retail AUM.
Text / Our reporter Cheng Jie, coordinator of this edition / Yu Meiying