BANK COMM(SH:601328) Zheng Quan Shi Bao·2025-04-27 17:26Group 1 - The core viewpoint of the articles is that commercial banks are intensively closing credit card branches located in different regions, reflecting a strategic shift in response to slowing retail business growth [1][2][5] - As of 2024, the China Merchants Bank reported a decline in credit card transaction volume by 8.23% and a decrease in non-interest income from credit cards by 11.3%, indicating a broader trend of declining credit card performance across banks [6][5] - The China Banking Regulatory Commission has approved the closure of multiple credit card centers for various banks, including the Bank of Communications and Minsheng Bank, highlighting a systemic reduction in credit card operations [2][3] Group 2 - The transition from vertical management to localized management in credit card operations is a key reform for the Bank of Communications, aimed at providing integrated financial services to local customers [3][4] - As of the end of 2024, the Bank of Communications reported a credit card loan balance of 538.4 billion yuan, with a year-on-year growth of 9.94%, although the number of active credit cards decreased by 11.66% [4][5] - The overall credit card market is facing challenges, with the total number of credit cards and credit card transactions declining, as reported by the People's Bank of China [5][6] Group 3 - Many banks are experiencing negative growth in retail banking revenue and profits, with state-owned banks like ICBC and Bocom reporting significant declines in personal financial business profits [6][7] - Bank executives believe that the recovery of retail banking will depend on the future economic cycle and improvements in consumer data, with expectations for credit card business conditions to improve as consumption-promoting policies take effect [7]