News Column

WLB HK Private Banking Center Established

August 7, 2014

HONGKONG, August 7, SinoCast -- China Merchants Bank (CMB), which spent HKD 36.3 billion acquiring Wing Lung Bank (WLB) in 2008, announced on August 5 that WLB's private banking center was officially established in Hong Kong, the first offshore asset management subsidiary under CMB.

WLB, a more than 80-year Chinese bank, currently manages assets of more than HKD 10 billion.

The private banking business specializes in providing stocks, bonds, funds, and family trust services. The access threshold for customer assets management is HKD 10 million.

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Source: Sinocast Banking & Credit Beat (China)

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