China Merchants Bank reports over 100 mln saving accounts

China Merchants Bank reported over 100 million savings accounts, the first domestic joint-stock bank to reach that threshold.

Logo of China Merchants Bank. [Photo: VCG]

Savings accounts are essential for banks as they build on these customers to offer diverse services ranging from wealth management to credit.

The bank has around 130 million retail clients.

The users of its two popular mobile apps also topped 100 million.

The bank's net profit attributable to shareholders jumped 15 percent year on year to 80 billion yuan.

The company's operating income increased by 12 percent to 250 billion yuan last year.