China Securities Jinniu Financial Research Center recently released the ranking results of the comprehensive financial management capabilities of net value banks in the third quarter of 2021.
China Merchants Bank Wealth Management ( China Merchants Bank ), China Minsheng Bank , ICBC Wealth Management ( ICBC ) ranked in the top three in the national banking category, Shanghai Bank , Ningyin Wealth Management ( Ningbo Bank ) and Nanyin Wealth Management ranked in the top three in the urban commercial bank category, Shanghai Rural Commercial Bank , Chongqing Rural Commercial Bank ranked in the top three in the rural commercial bank category.
CSI Taurus net value bank wealth management evaluation system is supported by data from the national financial information platform Xinhua Finance , academic support is provided by the Chinese Academy of Social Sciences Financial Law and Financial Supervision Research Base, and jointly released by Xinhuanet Financial Channel.
China Merchants Bank Wealth Management, Shanghai Bank, Shanghai Rural Commercial Bank ranked first in the third category of banks
The comprehensive ranking of net value bank wealth management capabilities in the third quarter is based on the data as of September 30, 2021, and conducted a comprehensive evaluation of 158 net value bank wealth management product issuing institutions, including 18 national banks, 94 urban commercial banks, and 246 rural commercial banks. The basic data for this evaluation comes from the data survey conducted by CSI Taurus every quarter and the disclosure of public channels of financial institutions. According to the CSI Taurus Net Value Bank Financial Management Comprehensive Ability Evaluation System (version 2.0), the evaluation uses quantitative evaluation as the main method and qualitative evaluation of as the auxiliary method. The dimensions examined include management scale, product performance, information disclosure, product richness, etc.
Judging from the ranking results, China Merchants Bank (China Merchants Bank), China Minsheng Bank, and ICBC Wealth Management (ICBC) ranked in the top three in the national banking category in the third quarter, Shanghai Bank, Ningyin Wealth Management (Ningbo Bank), and Nanyin Wealth Management ranked in the top three in the city commercial bank category, Shanghai Rural Commercial Bank, Chongqing Rural Commercial Bank (Chongqing Rural Commercial Bank) and Guiyang Rural Commercial Bank ranked in the top three in the rural commercial bank category.
Among the national banks, the top ten banks include China Construction Bank ( Construction Bank ), Bank of China Wealth Management ( Bank of China ), Xinyin Wealth Management ( CITIC Bank ), Everbright Wealth Management ( Everbright Bank ), Xingyin Wealth Management ( Industrial Bank ), Huaxia Wealth Management ( Huaxia Bank ), Shanghai Pudong Development Bank , etc. Among the city commercial banks, the top ten banks include Suyin Wealth Management ( Jiangsu Bank ), Beijing Bank , Hangzhou Bank Wealth Management ( Hangzhou Bank ), Guilin Bank , Huiyin Wealth Management ( Huishang Bank ), Guiyang Bank , Chongqing Bank , etc.
Among the rural commercial banks, the top ten banks include Hangzhou United Rural Commercial Bank , Guangzhou Rural Commercial Bank , Dongguan Rural Commercial Bank , Guangdong Shunde Rural Commercial Bank , Qingdao Rural Commercial Bank, Jiangsu Jiangnan Rural Commercial Bank, Jiangsu Suzhou Rural Commercial Bank, etc.
The performance of wealth management products in the third quarter was poor, and information disclosure still needs to be strengthened
The bank wealth management market continued to stabilize in the third quarter, and the proportion of net value products continued to expand. According to data from the Bank Financial Management Registration Center, as of the end of September, the scale of the bank financial management market reached 27.95 trillion yuan, and the net value ratio exceeded 86.56%. From this calculation, the scale of net value wealth management products at the end of the third quarter exceeded 24.2 trillion yuan. Judging from the survey results in the third quarter, many banks have completed their net value transformation, and some have transferred all their wealth management products to their wealth management subsidiaries, and there are no longer any existing products under the bank's name.
The number of newly established and existing net value products continued to grow in the quarter. According to Boer Asset Management statistics, 9,196 new net value wealth management products were established in the bank wealth management market in the third quarter, an increase of 4.7% month-on-month. In terms of the types of newly issued products, public offerings account for 86.6%, private offerings account for 13.4%, open offerings account for 14.8%, closed offerings account for 85.2%, fixed income accounting for 93.8%, mixed offerings accounting for 5.3%, and equity offerings accounting for 0.9%. As of the end of the third quarter, there were more than 35,000 existing net value wealth management products, an increase of 7.5% from the end of the second quarter.In terms of the types of surviving products, public offerings account for 84%, private offerings account for 16%; open offerings account for 33.1%, closed offerings account for 66.9%; fixed income offerings account for 91.45%, mixed offerings account for 7.21%, equity offerings account for 1.27%, and commodity and financial derivative offerings account for less than 0.1%.
net value financial products quarterly performance declined. According to Boer Asset Management statistics, affected by the fluctuations in the asset market price, the performance of fixed income wealth management products in the third quarter decreased slightly compared with the second quarter, with an average annualized net value growth rate of 4.25%, a month-on-month decrease of 3BP; mixed products performed poorly, with an average annualized net value growth rate of 2.21%, a month-on-month decrease of 3.75 percentage points, of which some mixed products also experienced significant floating losses; equity products performed poorly, with an average annualized net value growth rate of -6.30%.
It is worth noting that as the transition period of the new asset management regulations is about to end, various financial institutions are increasingly paying attention to the disclosure of financial management business. In the third quarter, among the 158 institutions included in this period, almost all institutions were able to disclose product net value data in a timely manner. As of the end of October, 131 institutions released the third quarter product investment operation report on time, and 72 institutions released the semi-annual reports on wealth management business for the first half of 2021, including ICBC Wealth Management, Bank of China Wealth Management, Agricultural Bank of China Wealth Management and other institutions. However, there is still a lot of room for improvement in the information disclosure work in the bank wealth management market. Financial management institutions whose information disclosure is not yet perfect need to strengthen disclosure in accordance with the new asset management regulations. At the same time, the information disclosure quality of some institutions needs to be improved and standardized to avoid being a formality.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-