China Banks Stop Mortgage Lending after Reaching Quota

China Banks Stop Mortgage Lending after Reaching Quota

Some Chinese banks have stopped mortgage lending to home buyers after it reached the 1st quarter credit quotas. This quota system was put in place to prevent China’s home prices from increasing too quickly. ICBC, Bank of China and Everbright Bank Co have already used up their allocated mortgage lending quotes.

Outstanding household medium-to-long term loans, an equivalent of mortgage loans, grew by 380.4 billion yuan in February

~ South China Morning Post

Outstanding household medium-to-long term loans, an equivalent of mortgage loans, grew by 380.4 billion yuan in February (US$55.17 billion), a drop from the 629.3 billion yuan growth in January,

Related Report: South China Morning Post

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Industrial and Commercial Bank of China Overtakes Well Fargo as World’s Most Valuable Banking Brand

Industrial and Commercial Bank of China Overtakes Well Fargo as World’s Most Valuable Banking Brand

ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand. According to the Top 500 Banking Brands 2017 Ranking by UK-based The Banker magazine, the brand value grew 32% year on year to US$47.8 billion. China’s total banking brand valuation has also increased by 25% to US$259.2 billion.

“ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand.”

~ South China Morning Post

The ranking of the most valuable banking brands globally, in its 11th year, determines the net present value of a bank’s trademark and associated intellectual property, or its brand value. ICBC, China Construction Bank, Bank of China and Agricultural Bank of China also made it into the top 10 global banking brands.

Related Reports: South China Morning Post, The Banker 

 

About ICBC

Through its continuous endeavor and stable development, the Bank has developed into the top large listed bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank has its presence in six continents, and its overseas network has expanded to 41 countries and regions.The Bank provides comprehensive financial products and services to 5,090 thousand corporate customers and 465 million personal customers by virtue of the distribution channels consisting of 17,122 domestic institutions, 338 overseas institutions and 2,007 correspondent banks worldwide, as well as through its E-banking network comprising a range of Internet and telephone banking services and self-service banking centers, forming a diversified and internationalized operating structure focusing on commercial banking business and maintaining a leading position in the domestic market in the commercial banking sector.In 2014, the Bank was named the “Global Bank of the Year” by The Banker, ranked the first place among the Top 1000 World Banks by the Banker and the largest enterprise in the world among the Global 2000 listed by the US magazine Forbes for the second consecutive year.

Visit: ICBC

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

ICBC Private Banking Launches Family Wealth Management Service

ICBC Private Banking Launches Family Wealth Management Service

ICBC Private Banking has officially launched the family wealth management business targeting the needs of mainland’s ultra high net worth families with asset management, including investment with huge wealth, management of family assets, separation of family from business, planning on inheritance of wealth and family governance.

” Family wealth management business targeting the needs of mainland’s Ultra High Net Worth families “

ICBC’s family wealth management service is positioned as an integrated service provider with all family wealth management institutions to create the wealth management platform

Related Reports: ICBC, Asian Private Banker

 

About ICBC

Through its continuous endeavor and stable development, the Bank has developed into the top large listed bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank has its presence in six continents, and its overseas network has expanded to 41 countries and regions.The Bank provides comprehensive financial products and services to 5,090 thousand corporate customers and 465 million personal customers by virtue of the distribution channels consisting of 17,122 domestic institutions, 338 overseas institutions and 2,007 correspondent banks worldwide, as well as through its E-banking network comprising a range of Internet and telephone banking services and self-service banking centers, forming a diversified and internationalized operating structure focusing on commercial banking business and maintaining a leading position in the domestic market in the commercial banking sector.In 2014, the Bank was named the “Global Bank of the Year” by The Banker, ranked the first place among the Top 1000 World Banks by the Banker and the largest enterprise in the world among the Global 2000 listed by the US magazine Forbes for the second consecutive year.

Visit: ICBC


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency