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ICBC Asia Launches Elite Wealth Centre

Vanessa Doctor

14 July 2011

Industrial and Commercial Bank of China has launched an Elite Club Wealth Management Centre at its newest branch at Fortress Hill, King's Road, Hong Kong.

Apart from the self-service banking facilities the Elite Club centre, aimed at those with total liquid assets of HK$800,000 ($103,000) and up, is equipped with several VIP rooms that serve as meeting places for relationship managers and their clients. It also has internet banking facilities and a securities service division.

"This district is a traditional residential area of middle-class while the high-class residential area in the mid-level attracts many people with high asset portfolio to purchase property and invest in the area. In addition, new and existing luxurious hotels facilitate tourism and assist us to attract travelers, especially Mainland China tourists, to use our bank services," said Ying Weiyun, head of branch sales and services, in a statement.

This is the fifth branch opened this year, bringing ICBC Asia's total network to 49 in Hong Kong.  In August, the bank said that it will be opening its 50th at the Telford Plaza in Kowloon Bay. 

According to the 2011 World Wealth Report by Capgemini and Merrill Lynch, Hong Kong's high net worth population expanded at the fastest pace worldwide at 33.3 per cent to 101,300 in 2010, from 76,000 in 2009. The same report also shows Asia overtaking Europe to become the second largest HNWI market with 3.3 million in 2010. Europe recorded 3.1 million.