个贷不良年度透视：消费贷占比攀升，投资者偏好“大包小户”资产

Core Insights - The report from the Bank Credit Asset Registration and Transfer Center indicates a record high in the batch transfer of non-performing loans (NPLs) in 2024, with a total transaction amount of 225.8 billion yuan [1] - The report highlights a significant trend in the personal loan NPL market, with personal consumption loans showing a continuous increase in proportion [2] Group 1: Market Overview - As of the end of 2024, 337 institutions have opened 1,004 business accounts at the center, reflecting the deepening of NPL transfer operations since the pilot program began in 2021 [1] - The batch personal loan transfer business accounted for 70.1% of the overall market, with a transaction amount of 158.35 billion yuan, significantly higher than single corporate loan transfers [2] Group 2: Asset Characteristics - The report identifies three main characteristics of personal consumption NPLs: an increase in short-aged projects, a predominance of written-off assets, and a rise in the number of non-litigation assets [2] - The average loan amount for borrowers is predominantly under 300,000 yuan, with the majority aged between 40 and 45 years [2] Group 3: Transaction Mechanism - Most batch personal loan transactions utilize a multi-round bidding process, with an average of nearly five qualified bidders to ensure competitive pricing [3] - The transfer prices have slightly increased compared to 2023, showing a negative correlation with overdue time; the longer the overdue period, the lower the transfer price [3] Group 4: Market Participants - The structure of market participants has diversified, with a notable decrease in market concentration; national joint-stock banks still lead in transaction volume but have seen a significant drop in market share [4] - Trust companies have entered the batch personal NPL transfer market for the first time, with notable transactions completed in December 2024 [5] Group 5: Future Outlook - The report anticipates an increase in the variety of market participants in the NPL transfer market by 2025, which is expected to enhance industry development and efficiency [6] - The center plans to launch a mobile application for NPL transfers to improve market transparency and convenience for participants [6]