Overall best regional private bank in China 2023
Bank of Beijing Private Banking
Bank of Beijing Private Banking continues to reign as the best regional private bank in China, taking this Asiamoney award once again for 2023.
Since the inauguration of its private banking business in 2020, Bank of Beijing has only seen growth. In 2022, it recorded a 15.2% increase, year on year, in private banking customer numbers to over 12,900. Total private banking assets under management soared 18.6% to Rmb166.9 billion ($24.3 billion). This demonstrates the bank's ability to attract and retain high net worth clients by managing their assets effectively, and giving them the right wealth solutions before they even ask for it.
Bank of Beijing boasts a team of more than 50 investment advisers who provide personalized advisory services to clients.
One highlight was the establishment of a private banking system. This divides clients into four tiers depending on their wealth, ranging from minimum assets of Rmb6 million to over Rmb50 million, which helps to improve the efficiency of the relationship managers. Another was the launch of nearly 20 private wealth management products, many of which are considered all-weather products that remain resilient under stress.