中小银行，「断尾」助贷

Core Viewpoint - An increasing number of small and medium-sized banks are exiting the internet lending market due to regulatory pressures and diminishing profitability of such operations [1][4][11]. Group 1: Bank Actions - Urumqi Bank announced the cessation of cooperative personal internet consumer loans starting October 1 [2]. - Guizhou Bank stated that it has no new internet platform business and is only managing existing operations [2]. - Longjiang Bank's cooperation list for internet lending shows only one institution, which has also ceased cooperation, indicating the end of this business for them [2]. Group 2: Market Dynamics - The "9th Document" has led to a reevaluation of the cost-effectiveness of internet lending for small banks, as they have been reducing their business scale in this area [4][11]. - Urumqi Bank's personal consumer loans account for less than 3% of its loan balance, while Longjiang Bank's is around 4%, suggesting that internet lending is not a core business for these banks [5][6]. - Guizhou Bank reported a growth of over 70% in its personal comprehensive consumer loans (excluding credit cards) in Q3 2025, indicating a shift towards developing its own digital credit capabilities [7]. Group 3: Regulatory Environment - The regulatory environment has tightened, with banks now required to disclose their cooperative "white lists" and ensure compliance with the 24% cap on comprehensive financing costs [12][13]. - The China Internet Finance Association has highlighted issues with the disclosure of lending partners, indicating a lack of standardization and accuracy [8][9]. Group 4: Historical Context and Future Outlook - The rise of internet lending was initially driven by the need to address information asymmetry and supply-demand mismatches, but has faced challenges due to high costs and regulatory scrutiny [10][11]. - Historical examples, such as Bohai Bank and Shanghai Bank, illustrate the volatility and risks associated with reliance on internet lending, with significant declines in loan balances and increased non-performing loan rates following regulatory changes [20][22]. - The future landscape for small banks is expected to be more fragmented, with larger banks and major internet platforms continuing to dominate the market [23][24].