Direct Bank of Industrial Bank Witnessed a Total of Assets Over RMB 50 Billion, with a New Product to “Industrial Treasure”
In November 2014, a new T+0 direct-sale monetary fund product – Industrial Investment Fund for Monetary Market Securities under the management of China Industrial Wealth Management Limited, a subsidiary of Industrial Bank (IB) (hereinafter referred to as “Industrial Monetary Fund”) – was added to “Industrial Treasure”, the balance wealth management channel under the Direct Bank of IB, to provide customers with more product options for balance wealth management.
“Industrial Treasure” is one of the leading products promoted by the Direct Bank of IB vigorously. The previous issue of product under the channel is “Dacheng Cash Profit Increase Monetary Fund”, linked to Dacheng Cash Profit Increase Monetary Fund. Since its initial sale in this April, the product has witnessed more than 300,000 customers, with a sales value over RMB 4 billion. Compared with “Dacheng Cash Profit Increase Monetary Fund”, to purchase Industrial Monetary Fund via the platform of “Industrial Treasure”, customers can also enjoy the following preferential treatments: minimum deposit of RMB 0.01, T+0 real-time withdrawal, no charge for transfer-in and withdrawal, settlement of return on a daily basis with automatic redeposit of principal, and superposition of compound interest. It is noteworthy that the maximum redeeming limit is RMB 200,000 on the day of purchasing Industrial Monetary Fund via “Industrial Treasure”, namely, if a customer enters the redeeming instruction for an amount not more than RMB 200,000, the specified amount of money can arrive on a real-time basis. In terms of expected rate of return, Industrial Monetary Fund boasts a steady investment style. With a short period of two months from its launch to now, its annual annualized rate of return is well above the average level, ranking front among all monetary funds. It is expected to reach 10 times the current demand deposit rate.
The cooperation between the Direct Bank of IB and Industrial Fund Management Company to link Industrial Monetary Fund under the latter will further expand the product family of “Industrial Treasure”.
According to the introduction of Yang Zhong, General Manager of the Electronic Banking Department of IB, by the end of this November, the Direct Bank of IB has accumulatively developed more than 500,000 customers, with its assets totaling more than RMB 50 billion.
As learnt by the reporter, the Direct Bank of IB has covered the three main user terminals, computer, mobile phone, and iPad, since its official launch on this March 27. With great convenience that it supports one-key purchase with cards of many banks free of registration, its service channels have extended to six main series, namely “Business Boom (Xing Ye Hong)” – a service channel for investment products based on equity, “Industrial Treasure”, a T+0 direct sale fund product channel with both investment and wealth management functions and consumption and payment functions, and channels for wealth management products with principal and fixed returns guaranteed, including “Zhi Ying Bao”, “Wealth Management”, “Fixed Deposit” and “Fund”.
As indicated by General Manager Yang, it remains the direction toward which IB has always worked hard to learn and drawn on the advanced concepts, technologies and products of outstanding internet enterprises, accelerate innovation in products and services and go closer to the diversified needs of customers by bringing into play our own advantages. Following the business orientations of “Openness, Concentration, Enforcement and Customer Experience”, the Direct Bank of IB will offer more and better products and services to customers in the future.TOP