Bank Of Shanghai(SH:601229) Nan Fang Du Shi Bao·2025-11-12 10:45Core Viewpoint - The recent approval of Huang Cheng as the Deputy General Manager of Shanghai Bank's Credit Card Center reflects the bank's focus on internal talent development amidst a challenging credit card market, where transaction volumes and asset quality are under pressure [2][5][14]. Company Overview - Huang Cheng has a strong background within Shanghai Bank and its affiliates, having previously served as a director at Shanghai Shangcheng Consumer Finance Co., Ltd., where Shanghai Bank holds a 42.74% stake [5]. - His career trajectory includes a prior role as Assistant General Manager of the Credit Card Center, indicating a clear path of internal promotion and expertise in retail banking and consumer finance [7]. Performance Metrics - Shanghai Bank reported a credit card transaction volume of 49.115 billion yuan for the first half of 2025, a year-on-year decline of 13.43% [4]. - As of June 30, 2025, the credit card balance stood at 29.924 billion yuan, down 7.26% from the beginning of the year [4]. - The proportion of credit card loans in personal loans decreased from 2.3% at the end of the previous year to 2.08% [12]. Asset Quality - The bank's credit card non-performing loan (NPL) balance reached 749 million yuan, an increase of 17.21% from the previous year, with the NPL ratio rising from 1.98% to 2.5% [13]. - The overall quality of credit card assets is under pressure, reflecting broader industry challenges [14]. Industry Context - The credit card industry is experiencing a "volume adjustment," with Shanghai Bank's credit card business reflecting this trend [12]. - The bank is adapting to industry-wide changes, including the discontinuation of various credit card products, aligning its strategy with the overall market contraction [14]. - Huang Cheng's appointment comes at a critical time for the bank's credit card business, as it seeks to navigate these challenges and identify differentiated growth paths [15].