Best retail bank for premier banking services 2018
China Construction Bank
China Construction Bank started offering integrated retail banking services for affluent individuals and families under its ‘Golden Butler’ brand in 2013 and has succeeded in expanding the customer base in 2017.
Golden Butler provides cash pooling and asset management services for affluent individuals, small business owners and their family members. The services have been made available to customers throughout CCB’s retail banking outlets.
In 2017, CCB stepped up efforts to market Golden Butler services through digital channels, including smartphones. It also launched a smartphone app to allow the brand’s marketing and sales teams to share customer data, coordinate business activities and interact with potential customers. The result was impressive: by the end of 2017, the bank had more than 3.5 million customers for Golden Butler, of which some 600,000 or 17% were signed up in the year.
While generating income for the bank, Golden Butler has also paved the way for the strong growth of CCB’s private banking business: as wealth has accrued, a large number of Golden Butler users have become the bank’s private banking customers.
At the end of 2017, the number of CCB’s private banking clients had increased nearly 17% from a year earlier, to top 110,000.