BUSINESS China Merchants Bank reports over 100 mln saving accounts

BUSINESS

China Merchants Bank reports over 100 mln saving accounts

Xinhua

18:21, February 10, 2019

BEIJING, Feb. 10 (Xinhua) -- China Merchants Bank reported over 100 million saving accounts, the first domestic joint-stock bank to reach that threshold.

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(Photo: VCG)

Saving accounts are essential for banks as they build on these customers to offer diverse services ranging from wealth management to credit.

The bank has 125 million retail clients, and the users of its two popular mobile apps also topped 100 million.

The bank's net profit attributable to shareholders jumped 14.84 percent year on year to 80.56 billion yuan (about $11.95 billion), the company said in its preliminary earnings estimates filed with the Shanghai Stock Exchange.

The company's operating income increased by 12.57 percent to 248.66 billion yuan last year. 

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