上半年苏银、宁银理财规模增千亿，建信降两千亿

Core Insights - The report highlights significant growth in the asset management scale of city commercial banks' wealth management subsidiaries in the first half of the year, with some achieving over 20% growth compared to the beginning of the year [1][2][3] - The growth is primarily driven by leading city commercial banks and some joint-stock banks, while major state-owned banks are experiencing a decline in scale [3][4] Group 1: Growth Performance - Ningyin Wealth Management leads with a scale of 601.09 billion yuan, a growth of 26.94% from the beginning of the year [1] - Suyin Wealth Management remains the largest at 745.38 billion yuan, with a growth of 17.72% [1] - Other notable growth includes Hangyin Wealth Management at 514.39 billion yuan (17.28% growth) and Nanyin Wealth Management at 543.26 billion yuan (14.75% growth) [1] Group 2: Market Trends - The overall wealth management market saw a total of 27.48 trillion yuan in assets under management, an increase of 4.44% from the beginning of the year [2] - The report indicates a stark contrast in growth, with leading city commercial banks thriving while major state-owned banks like ICBC and ABC saw declines of approximately 180 billion yuan and 220 billion yuan, respectively [3][4] Group 3: Investment Strategies - The growth in asset management scale is attributed to a favorable equity market, with significant increases in indices such as the Shanghai Composite Index (up 8.42%) and the Hang Seng Index (up 24.18%) [6] - City commercial banks have shifted towards equity investments, with a notable increase in the number of equity and mixed products offered [7][8] Group 4: Distribution Channels - High external distribution channel ratios are common among the wealth management subsidiaries experiencing significant growth, with some exceeding 50% [8] - The expansion of distribution channels is crucial, especially in targeting large joint-stock banks and regional rural banks, which have substantial customer resources [9][10]