Our reporter Peng Yan

　　The 2021 performance reports of listed banks are being disclosed one after another, and it is not difficult to see from the performance reports that the income from intermediary business still maintains a growth trend.

The "Securities Daily" reporter noticed that last year, the six major state-owned banks' net fee and commission income (also known as intermediary business income) all achieved year-on-year growth.

However, in terms of growth rate, the growth rate of the six major state-owned banks is much lower than that of joint-stock banks due to their large base.

　　The reporter sorted out and found that from the perspective of the business structure of intermediate income, the increase in intermediary business income was mainly caused by the increase in fee income from wealth management business.

Among them, some joint-stock banks' agency wealth management business revenue increased by more than 50% last year, and some banks even increased by more than 80%.

　　Xue Hongyan, deputy dean of Xingtu Financial Research Institute, told the "Securities Daily" reporter that the rapid growth of bank wealth asset management intermediary business income is mainly due to the rapid rise of domestic wealth management outlets.

From the data point of view, under the profit-making effect of the structural bull market, domestic fund issuance will hit a record high in 2021, and the share of stocks + hybrid funds will increase by 42.9% year-on-year, contributing a large amount of agency fund sales income and custody income to the banking industry.

During the same period, the balance of bank wealth management products also increased by 12.14% year-on-year, hitting a new high since 2017.

　　State-owned bank intermediary business income

　　steady growth

　　According to the annual report data, by the end of 2021, only the Postal Savings Bank of the six major state-owned banks has experienced a double-digit increase in net fee and commission income.

The net fee and commission income of other major state-owned banks increased year-on-year, but the increase was small.

For example, last year, the Postal Savings Bank realized a net fee and commission income of 22.007 billion yuan, a year-on-year increase of 33.42%.

ICBC realized a net fee and commission income of 133.024 billion yuan, an increase of 1.4% over the previous year.

BOC realized a net fee and commission income of 81.426 billion yuan, a year-on-year increase of 7.82%.

CCB realized a net fee and commission income of 121.492 billion yuan, an increase of 6.03% over the previous year.

ABC realized a net fee and commission income of 80.329 billion yuan, an increase of 7.8% over the previous year.

Bank of Communications realized a net fee and commission income of 47.573 billion yuan, a year-on-year increase of 5.52%.

　　After sorting out, the reporter of Securities Daily found that the increase in the net fee and commission income of the above-mentioned six major state-owned banks was mainly due to the contribution of agency wealth management business income.

According to CCB's annual report last year, the agency business fee income was 19.283 billion yuan, an increase of 11.04%, mainly due to the rapid growth of the sales scale of agency insurance and agency fund sales.

According to the annual report of the Postal Savings Bank of China, the agency service fee income was 12.239 billion yuan, a year-on-year increase of 88.67%.

This was mainly because the bank accelerated the upgrade of its wealth management system, realized the transformation from single product sales to diversified asset allocation for customers, and achieved rapid growth in agency sales revenue from agency sales of insurance, agency funds, and agency sales of collective asset management plans.

　　Wen Bin, chief researcher of China Minsheng Bank, told the "Securities Daily" reporter that more and more banks are taking wealth management as the development focus of the transformation of bank retail business.

On the one hand, do a good job in providing customers with more abundant and diversified wealth management products and services. With the establishment of more and more bank wealth management subsidiaries, each wealth management subsidiary adopts different market positioning according to the characteristics of customers, providing Differentiated services meet the needs of different investors.

On the other hand, in the agency business, including the sales of wealth management products such as agency funds and insurance, banks are one of the sources of intermediary business income.

　　Intermediary business income of several small and medium-sized banks

　　The growth rate exceeds 30%

　　Compared with large state-owned banks, joint-stock banks have faster growth in the income from intermediary business.

Among them, the net fee and commission income of some joint-stock banks have achieved double-digit growth, and the growth rate of agency wealth management fees is generally higher from the perspective of the business structure of middle-income banks.

　　For example, the intermediary business income of China CITIC Bank and China Merchants Bank grew the fastest. Among them, China CITIC Bank achieved a net fee and commission income of 35.87 billion yuan last year, an increase of 24.39%. Among them, the commission of custody and other entrusted business increased by 87.63% over the previous year. This was mainly attributable to the increase in fee income from wealth management business.

Last year, China Merchants Bank realized a net fee and commission income of 94.447 billion yuan, a year-on-year increase of 18.82%.

Among them, the wealth management fee and commission income was 35.841 billion yuan, a year-on-year increase of 29%.

　　In addition, there are a number of urban and rural commercial banks that have published their annual reports. The intermediary business of Bank of Jiangsu and Bank of Jiangyin has both increased by more than 30%.

Among them, the agency wealth management business occupies the first place in the middle business contribution list.

In addition, Zhangjiagang Bank launched its intermediary business last year, and its net fee and commission income turned around to a profit of 124 million yuan, a year-on-year increase of 1370.16%.

According to its annual report, the substantial increase in net fee and commission income was mainly due to a year-on-year increase of 253.49% in agency business fees, and the increase in this fee was due to the increase in agency wealth management business income.

　　Wen Bin pointed out that banks are paying more and more attention to intermediary business income.

As the income level of Chinese residents increases and the demand for wealth appreciation increases, the market potential is still relatively large, and the competition in this field will also be more intense. Therefore, banks should further consolidate their customer base and further improve their online services. Through various channels, we provide more targeted differentiated and specialized products and services to better meet the needs of the market and customers.

(Securities Daily)