The bank’s wealth management income has increased 12% to ‘a record US$2.2 billion’ in 2021 year-on-year (YoY) driven by strong sales of funds, structured notes and wealth lending.

The UK bank reported ‘sustained growth in client numbers and double-digit growth in assets under management (AuM)’. Additionally, bancassurance income was up nine percent. The figures translated to 15.1% of the total operating income following financial markets, retail products and transaction banking, which posted US$4.9 billion, US$3.4 billion and US$2.6 billion in income in 2021, respectively. China business has grown significantly, almost doubling underlying operating profit

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