银行业“反内卷”持续升级

Core Viewpoint - The banking industry is undergoing a significant shift to combat "involution" competition, with various regional banking associations implementing self-regulatory measures to promote rational development and eliminate unethical practices such as commission payments to intermediaries [3][4][9]. Group 1: Involution Competition - "Involution" competition refers to low-level, homogeneous competition in a saturated market, characterized by blind expansion, price wars, and excessive marketing [4][6]. - Practices such as "rebate grabbing" and "dark box operations" are prevalent, where banks pay commissions to intermediaries to attract customers, often bypassing regulatory constraints [4][5][8]. - The phenomenon leads to "bad money driving out good," damaging the industry's ecological environment and distorting resource allocation at the macro level [7][8]. Group 2: Causes of Involution - The persistent "involution" in the banking sector is attributed to multiple factors, including a significant decline in net interest margins and the pressure to maintain stable income and profits [7][8]. - Banks often prioritize scale and speed in performance evaluations, leading to practices like price competition and high commission payments to attract clients [7][8]. - Weak deposit growth forces banks to rely on high-cost interbank liabilities, increasing pressure on funding and leading to gray channel subsidies [8]. Group 3: Regulatory Responses - Various banking associations have previously attempted to curb "involution" by prohibiting commission payments and related fees, but these measures have not fully addressed the issue [9]. - Experts suggest that overcoming "involution" requires a three-dimensional governance framework involving regulatory guidance, industry collaboration, and institutional transformation [9]. - The transition from a focus on scale to value creation is essential for the long-term health of the banking industry, despite potential short-term challenges [9].