Bank of China HK launches pri­vate bank­ing

The Pak Banker - - Front Page -

HONG KONG: Bank of China (Hong Kong) to­day an­nounces the launch of Pri­vate Bank­ing ser­vices to pro­vide high-net-worth (HNW) in­di­vid­u­als and their fam­i­lies with pri­vate and pre­mium in­te­grated wealth man­age­ment ser­vices. Mr Ja­son Ye­ung, Deputy Chief Ex­ec­u­tive of BOCHK, said ac­cord­ing to an in­dus­try re­search, the Asia-Pa­cific coun­tries ac­counted for ap­prox­i­mately 20% of the to­tal num­ber of about 29 mil­lion HNW in­di­vid­u­als with wealth be­tween US$1 mil­lion and US$50 mil­lion world­wide, while that of China was es­ti­mated to be 3.4%, or one mil­lion HNW in­di­vid­u­als. It is ex­pected that, the es­ti­mated num­ber of HNW in­di­vid­u­als in China will dou­ble by 2017.

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