ABC officially launches private banking service

ABC’s private banking service was launched in 12 provinces and cities includes Beijing, Tianjin, Shanghai, Jiangsu, Zhejiang, Shandong, Hubei, Guangdong, Qingdao, Ningbo, Xiamen and Shenzhen.

Boasting over 320 million retail banking customers, ABC has rich customer resources, good customer relationship and great potential in customer asset allocation. In recent years, ABC vigorously strengthened the development of retail businesses, and actively promoted the differentiated services. Until now, ABC had 7,810 certified financial planners, 422 executive financial planners, 20,973 personal account managers and wealth managers, 3,400 internal trainers and 838 wealth centers. While focusing on the implementation of civilized and standard service and the transformation of retail businesses, ABC continuously improved the high-end customer service system.

The Private Banking Department is designed to provide comprehensive services for high-end customers, subdivided into five sectors of the Wealth Advisory, the Product Development, the Marketing, the Risk Compliance and the Operation Guarantee.Since the preparation, ABC widely absorbed advanced management skills and successful experiences in international private banking and arranged two groups of business backbones to participate in overseas trainings. Until now, over one hundred  private banking wealth advisers had been trained. ABC also introduced an internationally-renowned consulting firm to make the development plan for private banking and hired a professional company to develop and launch the management system of private banking to ensure the smooth development of private banking business.

ABC's private banking service will cover various financial and non-financial fields. According to the approval from the regulatory authority, ABC can provide customers with five categories of private banking services which are personal financial management service, asset management service, private financial consulting service, private value-added service, and personal cross-border financial advice and service. To meet the growing demand of high-end customers, besides offering the banking services such as settlement, loan, wealth management, investment and financing, ABC will offer a series of tailored non-financial services including such personalized value-added services as law, tax, immigration, property inheritance and health care and constantly improve the service system.

The establishment of private banking service marks the improvement of overall service functions and professional service capacity of ABC. Through increasing the capacity of consulting services, ABC will enhance its asset management capability, strengthen international cooperation, and establish the private banking brand. On the one hand, using the advantage of being a large bank, it relies on a strong team of experts and rich banking experience to facilitate the establishment  of "1 + N" customer service model, a support team formed by wealth advisers, product specialists, professional consultants from each sector of the private banking department will provide services to customers together with customer managers; on the other hand, by professional and detailed resources of partner institutions, customer demand will be realized and the private banking service will solve customer problems as a platform.

ABC's private banking will be based on the domestic practices, reinforce international cooperation and carry out cross-border financial services; strengthen personnel training, enhance the level of wealth advisory services, and create a first-class team of private bankers; develop cooperation with foreign countries and build rich product lines and service lines; improve risk compliance management and establish a private banking brand with steady development.