26万亿理财子大洗牌！农银理财产品规模超越工银、中银理财，上银理财净利大跌61%

Core Insights - The 2024 annual reports of 25 bank wealth management subsidiaries reveal a total managed product scale of 26.3 trillion yuan, accounting for 88% of the wealth management market [1][5] - State-owned banks' wealth management subsidiaries showed positive growth in product scale and net profit, while some joint-stock banks experienced declines [1][4] Product Scale Summary - The total managed product scale of the 25 bank wealth management subsidiaries reached 26.3 trillion yuan, with state-owned banks showing stable growth [1][5] - Agricultural Bank of China Wealth Management surpassed Industrial and Commercial Bank of China Wealth Management, reaching 1.96958 trillion yuan, a year-on-year increase of over 24% [6] - Joint-stock banks like China Merchants Bank Wealth Management and Industrial Bank Wealth Management saw declines of 3.14% and 3.65% respectively, despite maintaining high rankings [6][4] Net Profit Summary - State-owned banks' wealth management subsidiaries achieved positive net profit growth in 2024, with notable increases for Bank of China Wealth Management and Agricultural Bank of China Wealth Management, both exceeding 20% [10] - Joint-stock banks like China Merchants Bank Wealth Management and Minsheng Bank Wealth Management reported net profit declines of over 10% [10][11] - Notably, Agricultural Bank of China Wealth Management and China Construction Bank Wealth Management had previously suffered significant profit drops in 2023, but rebounded in 2024 [10] Product Innovation and Distribution Channels - Several banks are innovating by launching unique products, such as Agricultural Bank of China Wealth Management's rural revitalization bond index-linked product [13] - Wealth management subsidiaries are actively expanding external distribution channels, with China Merchants Bank Wealth Management reporting a 137.02% increase in external distribution scale [14][15] - The focus on enhancing collaboration with parent banks has led to increased participation in bond tenders and non-standard asset investments [15]