Group 1 - The core viewpoint of the articles highlights the trend of major banks in China, particularly Bank of China, shutting down independent credit card apps and integrating their functions into their main banking apps, reflecting a consolidation in the credit card industry [1][4] - Bank of China has become the first state-owned bank to close an independent credit card app, following similar actions by smaller banks like Beijing Rural Commercial Bank and Bohai Bank [1] - The credit card industry is entering a contraction phase, characterized by a decline in the number of cards issued, insufficient new card issuance momentum, and a decrease in overall transaction activity [1] Group 2 - As of the end of 2024, the total credit card credit limit is 22.90 trillion yuan, with a year-on-year growth of 1.04%, while the outstanding credit balance is 8.71 trillion yuan, growing by 0.25% [2] - The average credit limit per card is 31,400 yuan, with a declining credit utilization rate of 38.03% [2] - The reduction in credit card transaction volume and usage is leading to a decline in banks' interest and non-interest income, as reflected in the semi-annual reports of several listed banks [4] Group 3 - As of the end of 2024, the total amount of overdue credit card loans for more than six months is 123.964 billion yuan, accounting for 1.43% of the outstanding credit balance, with a year-on-year increase [4] - Over 40 credit card centers have been approved for closure this year, with major banks like China Merchants Bank and Minsheng Bank also reducing their regional operations [4] - The National Financial Regulatory Administration has issued a notice requiring financial institutions to optimize or terminate mobile applications that have low user activity, poor experience, redundant functions, or compliance risks [4]
首现国有大行关停独立信用卡App，机构“瘦身”同步提速