2024中国银行业中间业务发展报告暨创新案例选编

Industry Overview - The development of China's commercial bank intermediary business has gone through three stages: rapid development (2001-2011), steady development (2012-2021), and high-quality development (2022-present) [38][39][62] - In the rapid development stage, intermediary business income grew rapidly, with diversified and personalized products emerging [86] - In the steady development stage, income growth slowed down, but wealth management and consumer finance products became new growth points [39] - In the high-quality development stage, banks focus on serving the real economy and improving service quality, with new opportunities in areas like wealth management and international settlement [62] State-owned Commercial Banks - From 2011 to 2023, the net fee and commission income of state-owned commercial banks grew from 346.5 billion yuan to 465.3 billion yuan, with an average annual growth rate of 2.5% [90] - The proportion of fee and commission income in operating income has declined, from 19.1% in 2011 to around 13% in recent years [91][66] - Main income sources include bank card, settlement, investment banking, wealth management, and custody businesses [93] - Bank card income accounted for 31.9% of fee income in 2019 but dropped to 17.3% after accounting rule changes [69] - Wealth management related income has grown, with the proportion increasing from 20% to 29.8% between 2011-2021 [97] Joint-stock Commercial Banks - From 2010 to 2018, the intermediary business income of joint-stock banks grew rapidly, with non-interest income increasing 8.5 times and fee income increasing 7.2 times [105] - Since 2018, growth has slowed significantly, with fee income growth turning negative in 2023 [133] - Main products include bank card, agency services, custody, and credit commitment businesses [137] - Bank card income growth has slowed, with only 2% growth in recent years [114] - Agency service income has been stable but slowed due to capital market fluctuations [116] City Commercial Banks - From 2020 to 2023, the intermediary business income of major city commercial banks decreased by 22% [169] - Main income sources include agency, custody, and bank card businesses [171] - Agency income accounted for 71% of fee income in 2021 but dropped to 61% in 2023 due to market competition and fee reductions [171] - Traditional corporate banking income continues to decline due to intense competition and narrowing margins [175] - Bank card income has shown slow growth, benefiting from consumption recovery and fintech improvements [176] Development Trends - Banks are accelerating digital transformation, using fintech to improve service efficiency and customer experience [145] - Wealth management business is becoming a key growth area, with banks enhancing asset allocation and investment research capabilities [97] - Banks are strengthening compliance management and fee reduction efforts to support the real economy [155][157] - Cross-border financial services and international settlement businesses are expected to grow with the deepening of the Belt and Road initiative [62] - Banks are building comprehensive financial service systems to meet diversified customer needs [153] Challenges - Economic slowdown and capital market fluctuations have reduced customer demand for financial services [217] - Intense competition from internet companies and foreign banks is squeezing profit margins [220][221] - Regulatory requirements on fee reductions and consumer protection are increasing compliance pressure [223] - The real estate market downturn has negatively impacted related financial businesses [217] - Banks face difficulties in balancing policy requirements, profitability, and compliance in product innovation [175]