Mainland banks have lumbered under the weight of their hulking branch networks, especially up against new quick and nimble online entrants. But some lenders have found a way to turn that burden into a leading edge: A number of Chinese banks are offering internships to children of high-net-worth customers, according to Securities Daily.
“Customers with a minimum deposit of half a million yuan are eligible to apply,” one bank officer told the journal, but given the huge demand, the limited vacancies will probably go to the biggest clients.
Internships at banks are a handy way of dressing up resumes and can boost the intern’s chances of getting a job or admission to an overseas college.
With online funds draining hundreds of billions of yuan in bank deposits over the last year, this new offering may help lenders plug at least part of the losses. More importantly, such high-quality customers could spell other wealth management sales opportunities.
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