Feng Huang Wang·2025-12-03 06:25Core Insights - The banking sector is experiencing a significant transformation from traditional deposit and loan services to comprehensive financial services, with the "New Year Opening" marketing campaign reflecting this shift in search of new growth points in a changing market environment [1][3] Group 1: Early Marketing Initiatives - Many banks have started their "New Year Opening" marketing campaigns earlier than usual, with some initiating efforts as early as late November to secure quality clients and boost middle-income business [2][3] - Banks are conducting internal meetings to set sales targets for asset management products, indicating a proactive approach to marketing [2][3] Group 2: Pressure on Net Interest Margin - As of the end of Q3, the banking industry's net interest margin has dropped to 1.42%, remaining at a historical low, prompting banks to adjust their product offerings to manage interest margins more effectively [3][4] - Some banks have begun to withdraw long-term deposit products to strengthen interest margin control, with expectations of further declines in deposit rates [3] Group 3: Shift in Marketing Focus - There is a noticeable reduction in the demand for deposit acquisition among some banks, leading them to focus more on wealth management services [4][5] - Marketing strategies have evolved from traditional giveaways to more pragmatic approaches, such as fee discounts and cash rebates, to attract clients [4][5] Group 4: Wealth Management as a Priority - Wealth management has become a key focus for many banks, with initiatives like the "Wealth Growth Plan" being introduced to incentivize client participation [5] - The emphasis on wealth management reflects the increasing importance of retaining and growing client assets in the context of declining interest rates and net interest margins [5]