Awards for Distinction 2023 – Best Domestic Private Bank – China

Best Domestic Private Bank China


China Merchants Bank

Best Domestic Private Bank – China


“We are honoured to receive the 2023 Best Domestic Private Bank – China award.”

As the first private bank in China to manage client assets surpassing RMB 4 trillion, we leverage professional wealth management, robust group resources, and advanced digital capabilities to meet the diverse needs of clients in ‘Individuals, Families, Enterprises, and Society’.

Simultaneously, we believe in the importance of giving back to society, intensifying efforts in philanthropy to channel wealth toward meaningful causes, and contributing to a more prosperous and equitable community.

Once again, we express gratitude for the organisers’ recognition, and we will continue our efforts to create even greater value for our clients.

What was behind the judges’ decision?

  • Since 2021, the bank has not only continued to focus on entrepreneurial services but has also deepened its service to family customers. The scale of assets under management for family office clients has grown significantly and is still showing explosive growth
  • Regarding social welfare, CMB Private Bank mainly provides HNW clients with services such as charity structure planning and construction, charity project selection and operation, charitable trust structure construction, charitable asset investment, and charity circle formation. The share of charitable trusts established by China Merchants Bank Private Bank with the help of clients ranks among the top in the market
  • In terms of the application of financial technology, it is the first full-process online service for family trusts in the industry. By setting standardised online packages, it breaks through the bottleneck of manual work and shortens the project approval process from 38 days in the past to three days at the fastest, which greatly improves the project approval process efficiency

What we said

“Although China’s banking industry has faced multiple unfavourable factors, such as the downturn in the economic cycle, increased financial market volatility, and geopolitical events in recent years, China Merchants Bank Private Bank has still bucked the trend and achieved rapid growth in its customer base and AUM,” said Twinkle Sparta, associate editor, Asian Private Banker.

“China Merchants Bank Private Bank continues to strengthen its cooperation with the financial and investment bank of China Merchants Bank and tap into the resources of their subsidiaries and external cooperative institutions.

“On top of providing wealth management, wealth planning and inheritance services to individual entrepreneurs, it also satisfies the financial needs of their businesses. In recent years, the coverage rate of private banks among A-share listed companies has exceeded 75%. A huge congratulations from APB to China Merchants Bank Private Bank for its success in winning the Best Domestic Private Bank – China award.”

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