1. Ping An and CM Bank, two joint-stock banks, have detailed disclosures of the latest data, but the former's private banking clients only increased by about a hundred in the third quarter, less than one-tenth of CM Bank. Minsheng Bank only disclosed the balance of private banking assets, without disclosing the number of clients. 2. The five major banks have not updated the data on private banking clients in the third quarter, but the growth rate in the semi-annual report is considerable.
Caixin Media News on October 31st (Reporter Peng Kefeng) Private banking clients, as a high-net-worth group of banks, have always been highly concerned about their data.
With the successive disclosure of the third-quarter reports of listed banks, some banks have also disclosed the latest private banking client data in their reports. Among them, Ping An and CM Bank detailed the latest data, but the former saw only a slight increase in private banking clients in the third quarter, less than one-tenth of CM Bank's, while Minsheng Bank only disclosed the situation of private banking assets, without disclosing the number of clients.
In the third quarter, Ping An Bank saw only a slight increase of around a hundred in private banking clients, with almost zero growth in wealth clients.
From the perspective of release time, in this round of third-quarter report disclosures, Ping An Bank was the first listed bank to announce private banking data.
Ping An Bank's third-quarter report shows that by the end of September 2024, the bank had 1.4243 million wealth clients, a 3.4% increase from the end of the previous year. Among them, there were 0.0936 million private banking clients, up 3.8% from the end of the previous year; the AUM balance of private banking clients was 1950.206 billion yuan, an increase of 1.8% from the end of the previous year.
The semi-annual report of Ping An Bank shows that by the end of June 2024, the bank had 1.4243 million wealth customers, a 3.4% increase from the end of the previous year. Among them, there were 0.0935 million private banking clients, up 3.7% from the end of the previous year; the AUM balance of private banking clients was 1944.879 billion yuan, an increase of 1.5% from the end of the previous year.
In comparison, this means that in the third quarter of this year, Ping An Bank's private banking clients increased by only 0.0001 million clients (around 100 clients). Furthermore, wealth clients experienced virtually zero growth. In addition, in terms of asset balance, Ping An Bank's AUM balance for private banking clients in the third quarter only saw a marginal increase of 5.4 billion yuan.
Cm Bank: The number of private banking clients increased by 1147 in the third quarter.
In addition to Ping An Bank, Cm Bank also disclosed the customer data of private banks in the third quarter report.
According to Cm Bank's third-quarter report, as of the end of the reporting period, the number of retail customers was 0.206 billion (including debit card and credit card customers), an increase of 4.57% compared to the end of the previous year. As of the end of the reporting period, the number of Gold Sunflower and above customers (referring to retail customers with total assets in RMB of at least 500,000 yuan on the average daily full discount) was 5.0657 million, an increase of 9.16% from the end of the previous year, of which, the number of private banking clients (referring to retail customers with total assets in RMB of at least 10 million yuan on the average daily full discount) was 159,581, an increase of 7.22% from the end of the previous year. As of the end of the reporting period, the total balance of assets under management of Gold Sunflower and above customers of the bank was 11,701.653 billion yuan, an increase of 8.15% from the end of the previous year.
It is worth noting that the 2024 semi-annual report shows that as of the end of the reporting period, the number of private banking clients of Cm Bank was 158,434, an increase of 6.44% from the end of the previous year. In addition, as of the end of the reporting period, the balance of total assets under management of retail customers (AUM) of Cm Bank was 14,203.083 billion yuan, an increase of 6.62% from the end of the previous year, with the total balance of assets under management of Gold Sunflower and above customers being 11,580.37 billion yuan, an increase of 7.03% from the end of the previous year. Among them, the number of Gold Sunflower and above customers was 4.9964 million, an increase of 7.67% from the end of the previous year.
In comparison, in the third quarter of this year, the number of Gold Sunflower customers of Cm Bank increased by 69,300. However, the number of private banking clients increased by 1147, with the increase being basically ten times that of Ping An Bank.
Minsheng Bank's total assets in private banking reached 854.6 billion yuan. In the first half of the year, the total number of private banking clients of the five major state-owned banks exceeded one million.
A check by Caixin reporters found that, among the major listed banks, in addition to Cm and Ping An, Minsheng Bank also disclosed some data on private banking.
Minsheng Bank's third-quarter report shows that as of the end of the reporting period, the bank's total assets under management of retail customers reached 2912.377 billion yuan, an increase of 181.101 billion yuan from the end of the previous year, with a growth rate of 6.63%. Among them, the financial assets of gold card and above customers were 2,489.286 billion yuan, an increase of 169.552 billion yuan from the end of the previous year, with a growth rate of 7.31%. The total assets of private banking clients were 854.594 billion yuan, an increase of 77.652 billion yuan from the end of the previous year, with a growth rate of 9.99%.
The journalist noticed that minsheng bank's semi-annual report also did not disclose specific user data for private banking. The bank's semi-annual report shows that the financial assets of gold card and above customers total 2465.082 billion yuan, an increase of 145.348 billion yuan compared to the end of the previous year, a growth rate of 6.27%, accounting for 85.43% of the total assets under management for retail customers of the entire bank. The total assets of private banking customers amount to 839.268 billion yuan, an increase of 62.326 billion yuan compared to the end of the previous year, with a growth rate of 8.02%.
In comparison, in the third quarter of this year, minsheng bank's total assets for private banking increased by 15.326 billion yuan, which is higher than ping an bank.
In addition, the journalist did not find the latest private banking customer data for the five major state-owned banks in their third quarter reports. However, based on the semi-annual reports of the five major banks, as of the end of June this year, the total number of private banking customers for the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications collectively reached 1.055 million people, setting a historical record high, while at the end of 2023, this number was 0.957 million households. In half a year, the number of "high net worth" customers for the five major banks increased by nearly 0.1 million people, a speed significantly higher than the previous year.
