Against the backdrop of pressure on banks' net interest spreads and retail business growth “stalling,” the private banking business of many listed banks is developing rapidly. As can be seen from the 2024 report data, the year-on-year increase in the number of private banking customers and asset management scale of many banks reached double digits, becoming the leader driving the bank's retail business development. The characteristics of private banking business are characterized by weak cycles, low volatility, and high value. Many large and medium-sized banks use it as an important growth point for non-interest income, and competition among banks for high-net-worth customers is also becoming more intense. However, in the process of private business development, issues such as product homogenization, uneven personnel, and vicious competition cannot be ignored. Furthermore, many industry insiders said that the trend of narrowing net interest spreads will continue, and the effect of boosting non-interest income through private banking is yet to be seen.

Against the backdrop of pressure on banks' net interest spreads and retail business growth “stalling,” the private banking business of many listed banks is developing rapidly. As can be seen from the 2024 report data, the year-on-year increase in the number of private banking customers and asset management scale of many banks reached double digits, becoming the leader driving the bank's retail business development. The characteristics of private banking business are characterized by weak cycles, low volatility, and high value. Many large and medium-sized banks use it as an important growth point for non-interest income, and competition among banks for high-net-worth customers is also becoming more intense. However, in the process of private business development, issues such as product homogenization, uneven personnel, and vicious competition cannot be ignored. Furthermore, many industry insiders said that the trend of narrowing net interest spreads will continue, and the effect of boosting non-interest income through private banking is yet to be seen.