新华财经北京1月29日电（记者 石诗语）近日，多家无理财公司牌照的中小银行披露的2025年理财业务 报告显示，自营理财业务退出速度明显加快，大幅压降自营理财产品规模成普遍趋势。在此背景下，理 财公司与中小银行的代销合作持续扩围、深化。业内人士认为，在政策导向与净息差下行等多重因素作 用下，轻资本、低风险的理财代销业务成为中小银行转型的必然选择。 压降自营理财规模 据记者不完全统计，截至1月27日，兰州银行、嘉兴银行、宜宾银行、无锡农商行等超30家银行披露了 2025年理财业务报告。截至2025年末，多家无理财公司牌照的银行大幅压降自营理财产品存续规模，部 分银行自营理财存续产品数量已降至个位数。 宜宾银行1月20日发布2025年理财业务报告称，截至2025年12月31日，该行共存续6只理财产品，实收本 金合计13.61亿元，分别为非保本浮动收益类、固定收益类、净值型理财产品；与2024年年末相比，理 财产品的类型及占比不变，实收本金减少14.91亿元，下降52.28%，产品数量减少2只。 兰州银行也在近期发布的2025年理财业务报告中表示，截至2025年12月31日，该行存续理财产品64期， 均为固收类产品， ...

● 本报记者 石诗语 近日，多家无理财公司牌照的中小银行披露的2025年理财业务报告显示，自营理财业务退出速度明显加 快，大幅压降自营理财产品规模成普遍趋势。在此背景下，理财公司与中小银行的代销合作持续扩围、 深化。业内人士认为，在政策导向与净息差下行等多重因素作用下，轻资本、低风险的理财代销业务成 为中小银行转型的必然选择。 压降自营理财规模 据记者不完全统计，截至1月27日，兰州银行、嘉兴银行、宜宾银行、无锡农商行等超30家银行披露了 2025年理财业务报告。截至2025年末，多家无理财公司牌照的银行大幅压降自营理财产品存续规模，部 分银行自营理财存续产品数量已降至个位数。 《中国银行业理财市场年度报告（2025年）》显示，2025年理财公司持续拓展母行以外的代销渠道，在 已开业的32家理财公司中，1家理财公司的理财产品仅由母行代销，31家理财公司的理财产品除母行代 销外，还打通了其他银行的代销渠道。2025年12月，全市场有593家机构跨行代销了理财公司发行的理 财产品，较年初增加31家。 业内人士认为，理财公司与中小银行合作是一场双向奔赴：对区域性中小银行而言，与理财公司合作， 丰富代销产品货架是自身 ...

Core Insights - The banking wealth management market is gradually recovering in 2024, with most wealth management companies showing year-on-year growth in product scale and net profit, despite some companies experiencing declines [1][2][3] Group 1: Performance Overview - As of April 10, 2024, 16 wealth management companies have reported their annual performance, with some companies achieving over 30% growth in scale and more than 158% growth in net profit [1] - The total scale of the banking wealth management market reached 29.95 trillion yuan, with total investment assets of 32.13 trillion yuan, reflecting a year-on-year growth of 10.56% [6] - The largest wealth management companies, such as 招银理财 and 兴银理财, reported scale reductions, with 招银理财's scale decreasing by 786.86 billion yuan to 2.47 trillion yuan [2][3] Group 2: Profitability Trends -浦银理财 reported the highest net profit growth of 158.57%, increasing to 11.61 billion yuan, while 渝农商理财 saw a 44.12% increase in net profit [4] - 招银理财, 兴银理财, and 信银理财 were among the companies with net profits exceeding 2 billion yuan, although 招银理财 experienced a 14.14% decline in net profit [3][4] Group 3: Investment Strategies - Wealth management companies are adjusting their investment logic to focus on diverse asset allocation and strategies, particularly in a low-interest-rate environment [1][10] - The shift towards equity markets is evident, with companies like 中银理财 launching over 20 equity index-linked products, reflecting a trend towards passive investment strategies [7][10] Group 4: Channel Expansion - Wealth management companies are actively expanding their distribution channels, particularly through third-party sales, with significant growth in off-bank sales channels [8][10] - 民生理财 reported a 137.02% increase in off-bank sales, while 青银理财 doubled its off-bank distribution institutions [8] Group 5: Challenges and Future Outlook - The wealth management industry faces challenges such as the need for improved equity investment capabilities and the difficulty in obtaining licenses for small banks [9][10] - Future competition in the wealth management sector is expected to focus on both channel expansion and product innovation, with a need for diversified product offerings to enhance market share [9][10]