Not long ago it was reported that IB saw 52 new public offering fund custody from January to November. Its scale of new public offering fund custody reached RMB 65.615 billion, up by 49% over the end of last year and ranking first in terms of growth speed among stock-holding commercial banks.
In recent years, all commercial banks moved toward lightweight transformation and competitions for custody market with small capital occupation became intense. Due to strict regulation, a wide range of investors and high standardization, public offering fund became a focus of custody business of commercial banks.
Assets Custody Department of IB embraced trend of custody business in “big capital management” era. And its public offering fund custody developed rapidly. According to statistics of China Banking Association, as of the end of September 2016, IB’s public offering fund custody has reached 106 in number, 7 times that of the end of 2012; scale of public offering fund custody has reached RMB 417.712 billion, up by 14 times over the end of 2012, and market influence was further improved.
Improvement in public offering fund custody should be owed to IB’s innovative bank-fund cooperation mode. It fully integrated inside resources, conducted in-depth cooperation with excellent fund companies in retail business, outsourcing management and deposits of funds, provided T+0 credit support for currency fund custody, and satisfied needs of retailers and institutions. Meanwhile, the custody financial service system combining three centers, i.e. marketing, products and operation, was a first in the industry, elevating efficiency of marketing organization, branch management, legal affairs audit, product operation and scientific construction and offering high-quality custody service for clients.
While promoting traditional mode of cooperation, IB also made full use of advantages of comprehensive finance, combined with online sales channels, and expanded cooperation with fund companies to interbank investment, wealth management investment,Internet fund, etc. As IB’s interbank platform was transformed into one-stop comprehensive wealth management platform, it will deepen cooperation with fund companies in an all-round way and provide new space for the development of public offering fund custody.
In recent years, IB’s asset custody has covered trust, securities, fund, insurance, private fund and cross-border products, and served over 800 clients. Last month it set up an asset custody center in Qingdao. The bank gave full play to advantages of comprehensive operation, and its custody business maintained steady development. By the end of September, IB’s custody products have exceeded 20 thousand in number, ranking first in the industry; scale of asset has been nearly RMB 8.3 trillion, ranking fifth in the industry.