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Research Report on China's Private Banking, 2011-2012
China Research & Intelligence, Nov 2011, Pages: 65
Private banking business has a long history of development in foreign countries. In developed countries, the private banking business with large capital capacity, wide range of business and stable operating income is favored by many commercial banks and develops rapidly .
In the past few years, the average profit margin of United States private banking business was over 35%, and the average annual earnings increased by 12%-15%, which were far better than the general retail banking business' profitability. As managing these affluent private clients' funds is lucrative, and the profit is mainly from the stable fee income which won't greatly affected by market fluctuations, the competition of private banking business is increasing. Therefore, many commercial banks are extending their private banking business to the affluent middle-class customers, resulting in a ''civilian'' trend of private banking business.
China's first private bank institution was UBS, opened in Shanghai in 2005. Citi private bank opened subsequently in Shanghai in March 2006. In March 2007, Bank of China firstly started the domestic private banking business. Since then, China Merchants Bank, ICBC China and other local Banks as well as a number of foreign banks such as HSBC, SCB have launched private banking business in the Mainland in succession.
With the opening of China's banking sector for foreign capital, the financial sector competition is increasing. Domestic banks pay more attention to the innovation of financial products and services while innovative their internal mechanisms.
After the reform and opening-up (after 1978), China gradually realized its private wealth accumulation. At present, China has formed a number of high-income groups mainly concentrated in the following three categories: private business operators, senior executives and professionals.
With the further deepening of China's financial reform and the further opening of financial markets, China possesses the basic conditions to develop private banking business.
In recent years, with the rapid development of China's macro economy and the appreciation of RMB, the number of the rich and the average amount of assets are increasing year by year. China is one of the countries whose number of the rich grows fastest in the world. China's new rich has a great potential demand of private banking business. Whether from the investment or the asset management perspective, China is a fascinating market for private banks.
By reading this report, readers can get the following information:
- The current development of Chinese private banking business
- The development of foreign private banks in China
- The development of local banks' private banks
- The development characteristics of private banks in China
- The development trend of Chinese private banking business
The following persons are recommended to purchase this report:
- Private banks
- Investors attention private banking business
- Research institutes attention private banking business
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