CMB reinforces leadership of China’s private wealth market

Theasianbankersg27 Sep, 2021Finance

Despite COVID-19 and a challenging year in 2020, the private banking and wealth management industry continues to do well as Chinese global financial markets rose unabated and hit record highs. CMB’s assets under management (AUM) reached RMB 2.77 trillion ($432.9 billion) at the end of 2020, accounting for a leading 19% share of the RMB 14.56 trillion ($2.27 trillion) in private banking assets held by the top 12 largest Chinese-listed banks.