Jinan CMB Private Banking Center has been inaugurated as the 24th CMB private banking center nationwide and the 2nd in Shandong.
Unlike traditional banking services, private banking aims to provide completing solutions for high-end customers, including retirement, education, inheritance and daily life. Since the inception of CMB Private Banking five years ago, the numbers of affluent people and their wealth has continued to increase. Currently, CMB's has nearly 20,000 private banking customers, with an average annual growth rate of over 30% in terms of customer base and total managed assets. Cai Qigen, general manager of the retail banking department of CMB Jinan Branch, revealed that the private banking's growth momentum will remain over the next five year due to China's robust economic growth.
Currently, CMB has continued to subdivide high-end customers with the aim of releasing the family-based service mode for high-end customers and families. This service aims to serve households with ultra-high net value comprising investable assets of over RMB500 million. CMB plans to establish a specialist expert team to develop customized investment and risk control strategies for this type of customer.