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WEALTH MANAGEMENT | Cesar Tordesillas, China
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ICBC launches home banking wealth management product

ICBC offers the first "Banking@Home" Electronic Banking wealth management product for users of Personal Internet Banking and Mobile Banking, the Bank said in an announcement.

 

The product has a duration of 63 days. Initial minimum subscription of the product is RMB 50,000. Expected highest annualized yield is higher than other wealth management products of the same term, same initial subscription amount. Customers can only buy the product via ICBC Personal Internet Banking or Mobile Banking.

Banks extend its wealth management service into the "Internet Age" following the footsteps of Internet Banking and Mobile Banking. Currently ICBC has over 100 million Personal Internet Banking customers. Internet Banking and Mobile Banking are now important service channels for customer to invest and manage wealth online.

The new "Banking@Home" wealth management product is aimed at attracting customers on online products, helping customer use online financial services, said an executive with ICBC. Once get used to the online services, customers can manage their wealth without going out to the bank.

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