短期指标与长期发展取舍两难，银行业“反内卷”如何破局立新？

Core Viewpoint - The financial industry is experiencing a "de-involution" movement as banks face challenges from intense competition and declining net interest margins, necessitating a shift towards high-quality and healthy development [1][2][9]. Group 1: Current State of the Banking Sector - Recent half-year reports from listed banks indicate that the "involution" phenomenon persists, with deposit interest rate declines lagging behind loan interest rate declines [2][3]. - Average deposit costs for banks like Changshu Bank, Jiangyin Bank, and Jiangsu Bank fell below 2%, while their loan yields decreased more significantly, leading to further narrowing of net interest margins [3][4]. - The central bank has highlighted the "involution" issue, noting significant discrepancies between deposit and loan rate adjustments compared to policy rates [4]. Group 2: Causes of Involution - The central bank attributes the "involution" to fierce market competition, where banks engage in high-interest deposit strategies and aggressive loan pricing, leading to unsustainable practices [4][5]. - The decline in loan growth rates over the years indicates a shift from expanding new business to competing for existing market share, exacerbating the "involution" [7][8]. Group 3: Implications of Involution - The "involution" is compressing banks' profit margins and increasing operational risks, which could hinder the healthy development of the banking sector [8][9]. - The competitive landscape is characterized by price wars, relaxed credit standards, and high-interest deposit strategies, which ultimately threaten long-term profitability and stability [8][9]. Group 4: Responses to Involution - Recent initiatives from regulatory bodies and financial institutions aim to combat "involution" through measures that promote compliance and sustainable competition [9][10]. - Experts suggest that banks need to transform their customer base and business models to align with economic transitions, focusing on value rather than scale [11][12].