Core Viewpoint - The banking industry is transitioning into a low-interest-rate environment, which poses significant challenges for profitability and requires a strategic shift from a focus on asset scale to value-driven growth [3][4][6]. Summary by Sections Low-Interest Rate Era - The recent decline in LPR rates indicates a shift towards a low-interest-rate era in China, with net interest margins decreasing from 2.08% in 2021 to 1.43% in Q1 2025, a drop of 65 basis points [3][8]. - Historical experiences from Japan, the US, and Europe suggest that once a country enters a low-interest-rate environment, it may take over a decade to exit [7][8]. International Experience and Strategies - Japanese banks have successfully navigated low-interest rates through international expansion and diversification of non-interest income, providing a model for Chinese banks [4][11]. - Key strategies employed by Japanese banks include expanding overseas operations, adjusting loan structures, enhancing non-interest income, and pursuing mergers and acquisitions [12][13]. Domestic Banking Response - Chinese banks are adopting a combination of strategies to cope with the low-interest-rate environment, focusing on both increasing non-interest income and optimizing cost structures [18][20]. - Major banks like ICBC are emphasizing internationalization and comprehensive service offerings to support revenue growth, with international assets contributing 11.8% to the group's total [16][20]. Transformation and Future Outlook - The banking sector is moving from a reliance on interest income to a diversified income model, with a focus on wealth management and comprehensive financial services [21][22]. - Smaller banks are also adapting by deepening regional market engagement and offering tailored financial products to enhance customer loyalty [22]. Conclusion - The transition to a low-interest-rate environment necessitates a fundamental transformation in the banking industry, emphasizing strategic execution and the development of a multi-faceted income structure to ensure sustainable growth [15][22].
银行谋变低利率“逆风局”
21世纪经济报道·2025-05-23 14:12