Established in Shanghai on March 27, 2008, the Private Banking Department of Industrial and Commercial Bank of China Limited (ICBC) is directly under ICBC, the joint stock commercial bank with the largest market value and highest profitability at present worldwide; and it is also the exclusive operating institution that first obtains Private Banking Service Financial Permit issued by China Banking Regulatory Commission. Currently, the Private Banking Department has firstly established branches in Beijing, Shanghai, Guangzhou, Shenzhen, etc, and will, upon market and client development, continuously establish branches in other main cities in China afterwards.
ICBC private banking services target the high net worth clients with personal financial assets over RMB eight millions, and offer the custom and professional wealth management services centering asset management and focusing on consulting service. The service contents primarily cover five series services, including financial management services, asset management services, consulting services, private value-adding service, and cross border financial services, aiming at professionally selecting appropriate products and offering integrated comprehensive financial services and value-adding service on clients' behalf through an open product and service platform.
ICBC takes "In honesty, we stay together; in steadiness, we move ahead" as its unchangeable business motto; and "Consider what has not been considered and create what has not been created" as its forever pursuit. ICBC will engage in creating private banking service brand with Chinese characteristics, repay the trust and support from every single client with more sincere and professional services, and move forward hand-in-hand with clients and grow up with clients as well.
Ⅱ. Target Client
Any personal client with financial capital in ICBC no less than RMB 8 millions and good credit can apply for an ICBC Private Banking client after reaching an intention of opening an account and signing a Private Banking Service Agreement through full communication between bank and client; the personal client with financial capital in ICBC no less than RMB 5 millions can apply for an experience client of ICBC Private Banking and appoint an experience period through an agreement. Usually the experience period should not be longer than 1 year.
ICBC Private Banking services mainly refer to the custom and professional wealth management services centering asset management and focusing on consulting service offered to high net worth clients.
(1) Financial Management Service
In-depth understanding clients' requirements and goals and applying various financial tools to formulate custom financial management plans, to archive healthy and continuous financial management goals for individuals, families, and enterprises; and exclusive remote trust services are provided as well.
(2) Asset Management Service
Dutifully and cautiously manage financial assets, provide exclusive "Deliberate-Winning Series" products for private banking clients; and select appropriate and financial products worldwide to conduct diversified asset allocations, custom product designs, carte blanche asset management, in order to maintain clients’ assets, add clients’ asset values, or achieve other projected goals.
(3) Consulting Services
Based on ICBC extraordinary industry expert team and strong partners to provide clients with consulting services in all dimensions, including investment consultancies, trust consultancies, tax consultancies, artwork appreciation consultancies, and professional information services, etc.
(4) Personal Value-added Service
Provide clients with all types of custom value-added services to make quality private lives, including children wealth management education, business and social life events, private business office services, private health management, investment and culture seminars, modern life managements, etc.
(5) Cross border Financial Service
Rely on ICBC group business advantages and coordinate with ICBC cross border branches to provide clients with international financial consultancies and arrangements, international investment assistance, studying-abroad financial services, etc.
ICBC Private Banking core service team consists of senior management professionals, distinguished wealth consultants, and professional product experts; among which the management professionals have enriched bank operating management experiences, all wealth consultants possess CFP/AFP qualifications, and the product experts are from domestic and cross border branches with the expertise in banking, securities, funds, insurance, foreign exchanges, trust, laws, etc, holding CPA/CFA certificates with the primary missions of developing exclusive products of private banking and professional service support.
Ⅳ. Service Channel and Time
Headquartered in Shanghai, ICBC Private Banking Department has sub-departments in Beijing, Shanghai, Guangzhou, Shenzhen, Taiyuan, Nanjing, Hangzhou, Jinan, Zhengzhou and Chengdu. All affiliates under ICBC Private Banking Department offer professional services directly to their private banking customers.
Ⅴ. Responsibility Statement
The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.