Bank of Shanghai H1: Pension AUM Hits RMB551.19B, Elderly Loans Up 13.96%

Bank of Shanghai released its 2026 interim results on the evening of August 27. As of the end of June, the bank served nearly 21.6 million retail customers, with retail customer AUM reaching RMB1.132165 trillion, up 4.07% from end-2025. In the first half of 2026, wealth management fee income rose 13.51% year on year. In wealth management, the bank continued to upgrade its full-category, multi-strategy product lineup, anchored by its "Wealth Four-Leaf Clover" asset allocation concept. At end-June, customers with monthly average AUM of RMB300,000 or above grew 3.93% in number and 4.78% in AUM from end-2025; private banking customers with monthly average AUM of RMB8 million or above saw their numbers and AUM rise 5.34% and 4.15%, respectively.

In product distribution, average daily wealth management product balances rose 4.20% year on year in the first half, personal non-money-market public fund distribution increased 53.36%, and personal insurance distribution grew 8.56%. In consumer finance, the bank focused on housing and autos. At end-June, personal consumer loan balances rose 5.41% from end-2025. Residential mortgage loans stood at RMB163.799 billion, up 0.25%, with national market share up 0.9 basis points; Shanghai mortgage balances rose 2.62%, with market share up 13 basis points. New-energy vehicle consumer loans reached RMB27.797 billion, up over 15%.

In pension finance, as of end-June 2026, the bank served 1.5986 million pension customers, with pension customer AUM of RMB551.187 billion, up 4.08% from end-2025. Average AUM per pension customer was RMB344,800, up 3.74%. Loans to the elderly-care industry rose 13.96%. The bank refined its "Secure Wealth" product system, achieved full coverage of commercial pension pilot institution partnerships, and offered integrated financial services spanning pension savings, wealth management, pension protection, and wealth succession. For the elderly-care industry, it launched products such as pension batch loans and a "nursing home plus internet hospital" service model.

On age-friendly services, the bank continued to improve its integrated online-offline elderly-care service system, deepening "four special" services: dedicated facilities, dedicated services, dedicated products, and dedicated teams. In the first half, it provided over 1,000 in-home financial service visits to elderly and mobility-impaired customers, with a 100% satisfaction rate. Through nearly 900 "Better Life Studios," it held over 2,500 public welfare events, serving more than 46,000 elderly customers.