Last year's performance competition of bank wealth management subsidiaries: CMB Wealth Management ranked first with a net profit of 3.2 billion

　　With the approval of SPDB Wealth Management and Shanghai Bank Wealth Management this year, a total of 22 Chinese-owned wealth management subsidiaries have opened.

What was the performance of the bank's wealth management subsidiary last year?

　　The Paper conducted a sorting and analysis based on the data disclosed in the bank's annual report. Among the 22 bank wealth management subsidiaries, 11 were opened before 2020, and the data is more comparable.

Since the opening time of the other 11 bank wealth management subsidiaries is April 2020 and later, the data in 2020 is relatively small, so the year-on-year data of some bank wealth management subsidiaries in 2021 will increase by a dozen or even a hundred times.

　　Bank wealth management subsidiaries opened before 2020 include CMB Wealth Management, Xingyin Wealth Management, China Post Wealth Management, Hangyin Wealth Management, Ningyin Wealth Management, CCB Wealth Management, ICBC Wealth Management, Bank of Communications Wealth Management, Bank of China Wealth Management, Agricultural Bank of China Wealth Management, Everbright Bank financial management.

It mainly focuses on wealth management subsidiaries of state-owned large banks and joint-stock banks, and also includes two wealth management subsidiaries of city commercial banks, Bank of Ningbo and Bank of Hangzhou.

Among the 11 wealth management banks opened before 2020, CCB Wealth Management leads the growth rate of net profit

　　Among the 11 wealth management subsidiaries of banks with more comparable data, CCB Wealth Management, a wealth management subsidiary of China Construction Bank, has the largest increase in net profit, up to 515.52%.

　　According to the 2021 annual report of China Construction Bank, CCB strictly followed the regulatory orientation last year, carried out the operation and rectification of the existing wealth management business in a stable and orderly manner, and completed the rectification task of the existing wealth management transition period.

As of the end of 2021, the scale of the Group's wealth management products was 2,372.279 billion yuan, of which the bank's product scale was 183.949 billion yuan, the scale of CCB wealth management products was 2,188.330 billion yuan; Type products accounted for 92.25%, an increase of 47.71 percentage points over the previous year.

　　In addition to CCB Wealth Management, Bank of China Wealth Management, Hangyin Wealth Management, Everbright Wealth Management, ICBC Wealth Management, Xingyin Wealth Management, Agricultural Bank of China Wealth Management, Bank of Communications Wealth Management, Ningyin Wealth Management, CMB Wealth Management, China Merchants Bank Management Last year, the net profit of Postal Wealth Management increased by 473.41%, 373.64%, 181.21%, 118.63%, 108.62%, 73.66%, 73.61%, 46.46%, 30.57% and 3.2% year-on-year.

　　Regarding the sharp year-on-year increase in the net profit of some bank wealth management subsidiaries, some industry insiders told The Paper that this is related to the fact that some wealth management products of banks may not be transferred to bank wealth management subsidiaries in 2020.

CMB Wealth Management ranked first with a net profit of 3.203 billion yuan last year

　　Judging from the net profit of bank subsidiaries that have disclosed data last year, China Merchants Bank’s wealth management subsidiary, China Merchants Bank’s wealth management subsidiary, China Merchants Bank’s net profit in 2021 ranks first, at 3.203 billion yuan.

　　According to the 2021 annual report of China Merchants Bank, during the reporting period, China Merchants Bank Financial Management made solid progress in various tasks.

In terms of promoting business transformation, the first is to follow regulatory requirements and complete the rectification plan for the transition period of the new asset management regulations.

The second is to carry out the transformation of cash products in accordance with the requirements of the "Notice on Regulating the Management of Cash Management Wealth Management Products".

Reasonably reduce the average duration of assets, guide customers to increase the allocation of non-cash products, and it is expected that cash products will be able to achieve a stable transformation after the transition period of the new cash regulations.

　　In addition, in terms of improving risk management, CMB Wealth Management strengthened the review of key industries and large-value customers, and improved the concentration risk management and control of a single credit entity; strengthened the compliance risk assessment of new products and new business strategies, and formulated wealth management Product market risk contingency plans to improve the efficiency and ability to respond to market risk emergencies.

In terms of enriching the product system, CMB Wealth Management focused on customer needs to create wealth management products with distinctive characteristics. The scale of fixed income +, multi-asset and equity products grew steadily. At the same time, it continued to cooperate with JPMorgan Asset Management (Asia Pacific) Limited Deepening the cooperation, both parties leveraged their respective advantages in fixed income and global equity investment, and jointly issued 4 products.

Small and medium-sized bank wealth managers continue to make efforts

　　Among the wealth management subsidiaries of small and medium-sized banks, except for Hangzhou Bank's wealth management subsidiary Hangyin Wealth Management and Ningbo Bank's wealth management subsidiary Ningyin Wealth Management, the rest will only open after 2020.

The net profit of Hangyin Wealth Management last year was 611 million yuan, a year-on-year increase of 373.64%; the net profit of Ningyin Wealth Management last year was 435 million yuan, a year-on-year increase of 46.46%.

　　Among the wealth management subsidiaries of urban and rural commercial banks that opened successively in April 2020, Nanyin Wealth Management, Qingyin Wealth Management and Yunong Commercial Wealth Management achieved good results last year, with a huge year-on-year increase in net profit.

　　The net profit of Nanyin Wealth Management, which opened in August 2020, last year was 646 million yuan, the net profit of Qingyin Wealth Management, which opened in September 2020, reached 408 million yuan last year, and the net profit of Yunong Commercial Wealth Management, which opened in June 2020, reached 408 million yuan last year. 356 million yuan.

　　Judging from the 2021 annual reports of Bank of Nanjing, Bank of Qingdao, and Yu Nong Commercial Bank, the three bank wealth management subsidiaries have all completed the transitional rectification and transformation work such as net worth transformation and stock asset rectification.

From the perspective of the scale of wealth management products, the scale of wealth management products of South Bank exceeds 300 billion yuan, and the scale of wealth management products of Qingyin Wealth Management and Yu Nong Commercial Wealth Management is more than 100 billion yuan.