不良贷款，加速“促销”转让！

Core Viewpoint - The article highlights a significant increase in non-performing loans (NPLs) and the market for transferring these loans, indicating rising risks in retail lending and the banking sector's response to manage asset quality [1][2][6]. Group 1: Non-Performing Loans Data - Recent data from the National Financial Regulatory Administration shows a slight increase in both the balance and rate of non-performing loans in commercial banks [1]. - The market for transferring non-performing loans has surged, with over 26 billion yuan in asset packages listed since November, and a projected 167 billion yuan in transfers for the first half of 2025, doubling from the same period in 2024 [1][2]. - The issuance of asset-backed securities (ABS) related to non-performing loans has exceeded 67.857 billion yuan this year, representing an over 80% increase compared to the previous year [1]. Group 2: Retail Loan Risks - There is a consensus in the industry that retail loan risks are increasing, with no signs of reaching a peak yet [1][6][7]. - Major banks are experiencing rising non-performing loan rates in their retail segments, with specific examples showing increases in personal loan delinquency rates [6][7]. - The characteristics of retail loan risks include higher delinquency rates in consumer loans and credit cards, while mortgage loans remain the most stable [6][7]. Group 3: Asset Transfer Strategies - Banks are increasingly using loan transfers as a strategy to manage non-performing assets, which is seen as advantageous for resolving retail asset risks [3]. - The transfer of non-performing loans allows for better debt restructuring and risk mitigation, helping to prevent large-scale defaults [3]. Group 4: Discounted Asset Sales - Financial institutions are resorting to significant discounts to expedite the sale of non-performing loans, with some assets being sold for as little as 10% of their original value [4]. - Examples include credit card loans sold at steep discounts, indicating a challenging recovery environment for these assets [4]. Group 5: Market Trends - A report from Dongfang Asset indicates a downward trend in the acquisition prices of non-performing asset packages, particularly in regions with mature markets [5]. - The overall activity in the primary market for non-performing assets has increased, with a notable rise in transaction volumes compared to previous years [5].