去年银行个贷不良转让增逾六成，“核销即售”模式兴起

Core Insights - The personal non-performing loans (NPLs) are rapidly being transferred from banks and financial institutions' balance sheets, with a significant increase in personal NPLs by 64% year-on-year, accounting for nearly 70% of total NPL disposals [1][2]. Group 1: NPL Transfer Trends - In 2024, the banking sector disposed of over 3.8 trillion yuan in NPLs, with personal NPL batch transfers reaching 158.35 billion yuan, also reflecting a 64% year-on-year increase [2][3]. - The report indicates a notable trend in the personal loan NPL market, with an increasing proportion of consumer loans, which is expected to continue into 2025 [2][3]. Group 2: Asset Characteristics - The characteristics of personal consumer NPLs have changed, showing shorter aging, a higher proportion of written-off loans, and an increase in assets not yet in litigation [3][4]. - The profile of NPL borrowers shows that most loans are small and dispersed, primarily under 300,000 yuan, with borrowers aged between 40 and 45 years, predominantly located in East and South China [3][5]. Group 3: Market Dynamics - The competition among institutions in the personal NPL market is intensifying, leading to relaxed transfer conditions and declining asset prices [4][5]. - The discount rates for NPLs are inversely related to the overdue duration, with shorter overdue assets having a discount rate of approximately 12.6% and recovery rates of about 13.1% [4][5]. Group 4: Investor Preferences - Investors show a preference for asset packages with borrowers aged between 30 and 50 years, as these individuals typically have stable income sources and a higher willingness to repay [5]. - The market is witnessing a diversification of participants, with a significant decrease in market concentration, and most transactions are conducted through multi-round bidding processes [5][6].