Sou Hu Cai Jing·2025-12-30 14:44Group 1 - The core point of the news is that China Postal Savings Bank has received approval to absorb and merge its wholly-owned subsidiary, Postal Huinong Bank, which will leave only Citic Baixin Bank as the remaining independent legal direct bank in China [1][3]. - The merger is expected to optimize management and business structure, enhance digital transformation effectiveness, improve operational efficiency, and reduce management costs for China Postal Savings Bank [3]. - Postal Huinong Bank, established in 2022 with a registered capital of 5 billion yuan, was intended as a testing ground for the digital transformation of China Postal Savings Bank [3]. Group 2 - In 2024, Postal Huinong Bank reported a revenue of 243 million yuan and a net loss of 415 million yuan, with total assets of 12.828 billion yuan and total liabilities of 8.669 billion yuan by the end of 2024 [3]. - The non-performing loan ratio for Postal Huinong Bank was 6.66%, with a provision coverage ratio of 239.55% [3]. - The trend of merging or shutting down direct banking operations has been observed across multiple banks since 2017, with several banks like Ping An Bank and Shanghai Pudong Development Bank closing or integrating their direct banking channels [4]. Group 3 - Regulatory tightening is a significant reason for the decline in direct banking operations, with increased scrutiny on financial institutions to return to core operations and maintain risk isolation [4]. - The tightening of regulations regarding data security, personal information protection, and internet loans has limited the business models that direct banks previously relied on, making innovation more challenging [4]. - The once-prominent role of direct banks as a key tool for traditional banks to counter the impact of internet finance has diminished significantly [4].