微众银行的大考：一边喊普惠，一边靠违规催收续命

Core Insights - WeBank, as China's first private internet bank, has faced significant challenges after eleven years of operation, including a decline in both revenue and net profit for the first time in history, ongoing compliance fines, and a rising non-performing loan (NPL) rate [2][11] - The bank's initial focus on inclusive finance has been overshadowed by issues related to risk management and compliance, leading to a tarnished reputation in the private banking sector [2][11] Business Performance - WeBank has served over 430 million individual customers, primarily targeting underbanked low-income groups and small to medium enterprises, which initially contributed to rapid growth [2][11] - However, the rapid expansion has come at the cost of risk management, with the bank increasingly lowering lending standards to maintain growth, particularly targeting high-risk borrowers [4][13] Compliance Issues - Since 2022, WeBank has faced continuous regulatory fines, with at least one fine per year, indicating systemic compliance failures across various operational areas, including account management and anti-money laundering [3][12] - The bank's internal risk management framework has been described as severely compromised, with a significant fine of over 13 million yuan in 2024 highlighting critical compliance failures [3][12] Non-Performing Loans - The NPL rate has escalated from 0.51% in 2018 to over 1.57% in the first half of 2025, marking a historical high, while the provision coverage ratio has declined, indicating weakened risk absorption capacity [5][14] - This deterioration in asset quality has directly impacted WeBank's financial performance, leading to a decline in both revenue and net profit in 2024 and 2025 [5][14] Collection Practices - WeBank has increasingly relied on aggressive collection practices, with over 300 collection agencies engaged, leading to numerous consumer complaints regarding unethical collection methods [6][14] - The bank's collection issues have not been resolved despite new regulations aimed at tightening oversight of collection agencies, indicating a persistent problem in compliance and operational integrity [7][15] Future Outlook - For WeBank to navigate its current challenges, it must address compliance vulnerabilities and overhaul its risk management framework, moving away from a growth-at-all-costs mentality [8][16] - The bank's ability to restore its reputation and adhere to regulatory standards will be crucial for its future viability and the broader health of the private banking sector in China [8][16]