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Fitch: 2024 CN Banks Wealth Mgmt Product Balance Grows 12%
Recommend 47 Positive 80 Negative 28 |
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Rating agency Fitch expected the level of Chinese banks' wealth management product (WMPs) balance to nominal GDP, which stood at 23% at end-2024 following a 12% YoY increase to RMB30 trillion, will remain largely stable in 2025, according to Fitch. This reflects a stabilization in the balance from the peak in 2017, when it was equivalent to 36% of nominal GDP. WMP yields continued to exceed average deposit rates, despite falling to 2.65% in 2024 from 2.94% in 2023 due to multiple benchmark interest-rate cuts. AAStocks Financial News |
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