从高光开局到顺势退场 直销银行十年“沉浮录”

Core Viewpoint - The independent legal direct banks in China are facing significant challenges, leading to the absorption and merger of these banks into larger institutions, marking the decline of a once-promising banking model [2][4][9]. Group 1: Financial Performance and Mergers - Postal Savings Bank announced the absorption of its wholly-owned subsidiary, Postal Huijia Bank, which has not been profitable since its establishment over three years ago, reporting a net loss of 118 million yuan in the first half of 2025 [2][4]. - The independent legal direct bank, Baixin Bank, only began to turn a profit in 2021 after several years of losses, but it is currently under pressure, with a net profit of 652 million yuan by the end of 2024, down 23.74% year-on-year [6][9]. - The independent legal direct bank, Zhaoshang Topo Bank, withdrew its application for establishment before it even began operations, indicating severe operational challenges [4][6]. Group 2: Industry Trends and Challenges - The rise of mobile banking has diminished the unique value proposition of independent legal direct banks, as mobile banking now meets user needs more effectively [2][10]. - The initial excitement surrounding direct banks, which began in 2013, has faded as many banks have integrated or shut down their direct banking services, reflecting a shift in focus towards mobile banking and digital transformation [4][9]. - High customer acquisition costs, product homogeneity, and intense market competition have been identified as key challenges hindering the growth of independent legal direct banks [7][9]. Group 3: Historical Context and Future Outlook - The direct banking model was initially seen as a response to the rise of internet finance, aiming to provide more efficient services and lower operational costs [9]. - As technology evolves, the banking industry is shifting towards a focus on specific customer segments and differentiated services, moving away from the independent legal structure of direct banks [9][10]. - The sentiment among former employees of direct banks reflects a realization that customers prefer comprehensive service offerings rather than standalone online banking solutions [10].