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 2022

Industrial Bank Private Banking

Xuxian Dai, Industrial Bank Private Banking.jpg
Dai Xuxian, Industrial Bank Private Banking

Last year marked a milestone for Industrial Bank Private Banking, under the leadership of Dai Xuxian, general manager of private banking.

The bank became the first among its joint stock peers to receive a private banking licence from the China Banking and Insurance Regulatory Commission. It was also the first private banking licence granted in the country in a decade.

Industrial Bank made the application in 2019, received the approval in April 2021 and got the final green light to open for business last December.

The process has been long, but it will probably be worth the effort: Industrial Bank Private Banking now joins its much larger state-owned peers – Agricultural Bank of China, Bank of Communications and Industrial and Commercial Bank of China – as a licenced private bank. As such, it will be better regulated, with improved risk segregation from its bank parent.

Industrial Bank, which had assets under management of over Rmb742 billion ($117 billion) by the end of 2021, isn’t one of the largest private banks in China, but it has continued to expand its business at impressive speed since the private banking department was set up in 2011.

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