
Hosted by McKinsey Greater China · EN

Chinese banking customers are gradually shifting their business away from the so-called “Big Four” state-owned banks. They’re also becoming more receptive to online banking. These are two of the four trends identified in a new survey of over 3,500 Chinese banking customers across China. In this podcast, Nick Leung talks with Joe Ngai and Jared Shu about what these trends mean for banks competing in China today. Joe is a Senior Partner who leads the Financial Institutions Practice in Greater China. Jared is a Partner who advises banks across the region. Nick is Managing Partner of McKinsey’s Greater China Practice. This concludes our three-part holiday series of McKinsey on China. Check iTunes for parts one and two, in which we discussed our predictions for China in 2015, and how the incidence of obesity is on the rise. To download the report discussed in this podcast, visit mckinseychina.com. And please subscribe, rate and review our podcast on iTunes. Image credit: leniners / Flickr

New research by McKinsey shows that China’s retail banking market is on track to become the second largest in the world by 2015, after only the US. For Chinese banks, capturing growth will require taking a different approach than they have in the past, one that focuses on implementing leaner cost structures and gearing service models around customer needs. Nick Leung, Managing Partner of McKinsey’s Greater China Practice, discussed some of the highlights from this research with Emmanuel Pitsilis and Jun Xu. Emmanuel is a Director in Hong Kong who heads the Financial Institutions Practice. Jun is an Associate Partner in Shanghai.