银行理财规模第三季度环比增长1.46万亿元 多家理财子公司通过与中小银行签订代销合作协议 进一步扩大服务覆盖范围 以抢占更多市场份额

Core Insights - The banking wealth management market is experiencing growth, with the total scale reaching 32.13 trillion yuan by the end of Q3 2025, marking a year-on-year increase of 9.42% [1][2] - Wealth management subsidiaries are focusing on optimizing distribution channels, particularly through partnerships with small and medium-sized banks to expand their market share [1][4] Market Size and Growth - As of the end of Q3 2025, there are 4.39 million wealth management products in existence, with a total scale of 32.13 trillion yuan, reflecting a year-on-year growth of 10.01% in product numbers and 9.42% in scale [2] - Wealth management subsidiaries dominate the market, holding 3.06 million products and a scale of 29.28 trillion yuan, which is a year-on-year increase of 15.26%, accounting for 91.13% of the total market [2] - The number of investors holding wealth management products reached 139 million, a year-on-year increase of 12.7% [2] Factors Driving Growth - The decline in commercial bank deposit rates has led investors to seek alternative products in the wealth management market [2] - Wealth management companies have capitalized on this trend by enhancing product innovation and marketing efforts, attracting funds from deposit rate reductions [2][3] Channel Expansion - Wealth management subsidiaries are accelerating the expansion of distribution channels beyond their parent banks, with a focus on partnerships with small and medium-sized banks [4][5] - By September 2025, 583 institutions were involved in cross-bank sales of wealth management products, an increase of 35 from the previous year [4] Strategic Partnerships - Collaborations with small and medium-sized banks are seen as mutually beneficial, allowing wealth management subsidiaries to access underserved markets while providing banks with stable fee income [5][6] - This partnership approach is expected to enhance the penetration of wealth management subsidiaries and reshape the market landscape, leading to a more concentrated industry structure [6]