The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Asia Private Banking Awards

Overall best national private bank in China 2021

China Merchants Bank Private Banking

China Merchants Bank Private Banking suffered a blow when Wang Jing, who had run the business for more than a decade, quit the bank in January 2020 to join Credit Suisse. Wang was a 25-year veteran at CMB who had helped to set up its private banking operations in 2007.

But her departure did not derail CMB, which maintained its position as the largest – and, arguably, most influential – private bank in China, while further extending its lead over peers.

CMB had nearly 100,000 private banking clients at the end of last year, while its assets under management came close to Rmb2.78 trillion ($432 billion), the highest figure for all the private banks. This despite the fact the numbers are based on high net worth clients with at least Rmb10 million in investible assets, versus Rmb6 million at other Chinese private banks.

In 2020, CMB continued to impress the market with the rate of growth of its private banking business. The number of clients rose 22.4% year on year, while AUM jumped 24.4%. The average account balance for its private banking clients increased 43.6% to Rmb27.75 million.

CMB achieved this thanks to its wealth management capability and experience, as well as its ability to maximize collaboration between the private banking and corporate and investment banking businesses within the group across different platforms in mainland China, Hong Kong, Europe, the US and Australia.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree