On November 2, a financial frontline report revealed that China Merchants Bank Co.,Ltd. (ASX: 600036) held its 2026 third-quarter earnings briefing today.
Speaking about wealth management, Lu Xiaorong, General Manager of the Retail Finance Headquarters and General Manager of the Wealth Platform Department at CM BANK (ASX: 03968), stated that amid intensifying competition across the industry's wealth business, the bank holds strong confidence in the long-term growth momentum and long-term advantages of its wealth management, based primarily on three reasons, which also represent the strategies the bank has consistently adhered to in the wealth management sector.
The first and most important point is the growth momentum of retail clients, foundational client groups, and AUM. Lu Xiaorong noted that in the first three quarters, the bank's retail customer base grew by 5.36%, while Golden Sunflower clients and private banking clients grew by 9.6% and 10% respectively, both maintaining relatively high growth rates compared to the beginning of the year. The bank continues to strengthen its integrated retail service spanning deposits, loans, and remittances, with an increasing number of customers treating the bank as their primary account. The perception that "the CM Bank card is easy to use" has become more deeply rooted in people's minds. This year, net customer fund inflows reached a historic high, and AUM grew by 9.5% compared to the beginning of the year, continuing to maintain a high growth rate and solidifying the client base for wealth management. The growth momentum of the retail client base stems from the bank's firm strategic positioning in retail finance as its main business, achieved through the sustained efforts of the entire bank, and represents a long-term driving force supporting wealth management development.
The second point is that wealth management is undergoing systematic upgrades centered on customer sense of gain and experience. "Among these, asset allocation is key. We assist clients in building diversified and balanced asset allocation plans, guiding clients to hold for the long term in a stable manner to avoid short-term fluctuations. At the same time, we continuously iterate our asset allocation methodology. To support asset allocation services, we continuously enhance our product selection and customization capabilities, while optimizing asset allocation strategies adapted to capital market cycles," Lu Xiaorong stated. The upgrades of both capabilities are driven by higher-level investment research capabilities. This is a key point in advancing the systematic upgrade of wealth management centered on customer sense of gain and experience.
The third point is that technological support capabilities continue to iterate, and client group management services have completed a digital model upgrade. Leveraging digital technology, the bank achieves efficient collaborative adaptation of massive customers, a limited team of relationship managers, online channels, customer service, and other multi-channel resources. AI applications are being further deepened, exploring new models of Agent intelligent services. Lu Xiaorong emphasized that the above three points are the key forces supporting the bank's wealth management in maintaining long-term leadership amid industry competition.
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