OREANDA-NEWS. September 20, 2011. ICBC offers the first "Banking@Home" Electronic Banking wealth management product for users of Personal Internet Banking and Mobile Banking, the Bank said in an announcement. The product has a duration of 63 days. Initial minimum subscription of the product is RMB 50,000. Expected highest annualized yield is higher than other wealth management products of the same term, same initial subscription amount. Customers can only buy the product via ICBC Personal Internet Banking or Mobile Banking, reported the press-centre of ICBC.

Banks extend its wealth management service into the "Internet Age" following the footsteps of Internet Banking and Mobile Banking. Currently ICBC has over 100 million Personal Internet Banking customers. Internet Banking and Mobile Banking are now important service channels for customer to invest and manage wealth online. Apart from more and more ICBC wealth management products available for sale via electronic banking, trading FX, signing up third party depositary for settlement of securities transactions, buying and selling of precious metal via account can nearly all be completed online. Over 50% buying/selling of funds are concluded via electronic banking. Investment and wealth management services at the counter have undergone substantial change. Electronic banking is playing an increasing role as one main service channel, adding convenience across ICBC customer banking channel.

The new "Banking@Home" wealth management product is aimed at attracting customers on online products, helping customer use online financial services, said an executive with ICBC. Once get used to the online services, customers can manage their wealth without going out to the bank.

The offering of "Banking@Home" wealth management product is one of the activities in "Create 100 Million Customers Together", a marketing event in action now. This 6-month event is launched in three stages: "Splendor with 100 Million Customers ", "Choice of 100 Million Customers", "Enjoy with 100 Million Customers". At present, ICBC has launched campaign to offer online transfer/remittance services with additional 50% discount on top of discounted banking charges. In the next step, ICBC will launch many practical services, a range of discount activities and lucky draws, more attractive online products and unique products for all the e-banking users.