Money

Private Banking Assets Under Management in China Continues Rapid Upward Rise

Private banking continues to surge in China, with the top 10 private Chinese banks posting a record-high value of assets under management (AUM) to RMB 8.3 trillion (US $1.2 billion) in 2017.

This data, which comes from the latest information just released by Asian Private Banker, shows those same top 10 private banks increased their AUM by RMB 1.2 trillion ($175 billion) year-over-year as of the end of 2017.

China's Top 10 private banks posted an RMB 1.2 trillion increase in assets under management (AUM) in 2017 to bring their combined total to a record-high RMB 8.3 trillion, according to Asian Private Banker data, which today releases the latest data set pertaining to China's onshore private banking industry.

AUM growth slowed slightly in 2017, dropping from 21.8% in 2016 to 16.8%. However, the total AUM held by China's Top 10 private banks has increased at a CAGR of 25.2% since 2013, outpacing Asia's (ex-China onshore) Top 10 players whose growth rate is significantly less at 9.2% over the same period.

Topping the table is China Merchants Bank (CMB) Private Banking with RMB 1.9 trillion in client assets in 2017, a 14.8% year-on-year increase. Industrial and Commercial Bank of China (ICBC) Private Banking and Bank of China (BOC) Private Banking follow closely with RMB 1.3 trillion and RMB 1.2 trillion, respectively, at the end of 2017. New joiners to 2017's League Table include Ping An Bank (PAB) Private Banking (RMB 341.2 billion) and Industrial Bank (CIB) Private Banking (RMB 324 billion).

Commenting on the 2017 results, Asian Private Banker's Editor, Sebastian Enberg, said: "Modest by past standards, growth -- at least in terms of new client assets -- has been muted by a regulatory overhaul that amounts to a 'reset moment', which should in turn usher in international-class standards in advice and product to the benefit of private banking clients in China."

The total number of private banking clients in China reached almost 550,000, with an addition of  more than 79,000 new clients in 2017 -- a 16.9% year-on-year increase. Meanwhile, the average value per client account has increased by 2.6% from RMB 15.4 million in 2016 to RMB 15.8 million. Well above the average minimum asset requirement of RMB 7.6 million.

China 2017 AUM & Client Count League Tables

View full data online at:

  • China 2017 AUM League Table (apb.news/caumpr)
  • China 2017 Client Count League Table (apb.news/chinaccpr)