Bei Jing Shang Bao·2026-02-05 13:48Core Viewpoint - The recent leadership changes at the Bank of Communications' credit card center reflect the bank's commitment to transforming its credit card business from a scale-driven approach to a quality-focused strategy amid increasing competition in the industry [5][6]. Group 1: Leadership Changes - The Bank of Communications' credit card center has undergone significant leadership changes, with He Bo, the deputy governor of the Zhejiang branch, set to take over as the general manager of the credit card center, pending regulatory approval [3][4]. - This marks the second core executive change within a short period, following the recent transfer of the previous general manager, Han Dong, to the Ningbo branch [4][5]. - He Bo brings a wealth of experience from both the head office and branch operations, which is expected to provide a broader strategic perspective for the credit card business [3][5]. Group 2: Business Transformation - The bank has initiated a strategic transformation of its credit card business, emphasizing a shift towards localized management and operations, which involves closing redundant credit card centers [6][7]. - As of 2025, over 50 credit card centers have been closed, indicating a significant restructuring effort to enhance operational efficiency and focus on local market needs [6][7]. - The bank aims to integrate credit card operations into a comprehensive retail banking framework, providing customers with a one-stop financial service experience [7][8]. Group 3: Market Trends and Challenges - The credit card industry is experiencing a shift from aggressive expansion to a focus on deepening existing customer relationships, driven by increased market saturation and changing consumer behavior [9][10]. - The bank's credit card issuance has seen a decline, with the number of cards in circulation dropping from 7,450.83 million in 2022 to 6,009.85 million in 2025, alongside an increase in the non-performing loan rate [8][9]. - Experts suggest that the bank's strategic adjustments are a rational response to industry trends, aiming to improve customer quality and operational efficiency [9][10]. Group 4: Future Directions - The credit card center plans to focus on three key areas: enhancing consumer spending through targeted promotions, leveraging local branch networks for community engagement, and integrating financial technology to improve service delivery [10][11]. - Recommendations for the bank include developing differentiated products, enhancing digital and physical service integration, and maintaining strict risk management practices to ensure sustainable growth [10][11].