Core Insights - The credit card industry in China is experiencing a significant downturn, with issuance volumes declining for ten consecutive quarters, leading to a total of 721 million credit cards by Q1 2025, down from a peak of 807 million in 2022 [4][5][6] - Promotional activities, such as offering bicycles for credit card sign-ups, reflect the intense competition and pressure on banks to attract new customers, despite the overall decline in credit card usage [2][5] - The industry is shifting from a growth phase to a focus on existing customer retention and service quality, as the previous strategies of aggressive customer acquisition are no longer effective [5][24] Industry Trends - The credit card issuance cost has increased significantly, with costs reaching up to 200 yuan per card, compared to earlier years when no incentives were necessary [4][5] - Credit card delinquency rates have risen, with the overdue amount exceeding 123.96 billion yuan by the end of 2024, marking a 26.31% year-on-year increase [5][6] - The number of credit cards in circulation is decreasing, with over 40 credit card centers shutting down since 2025, indicating a contraction in the market [6][7] Market Dynamics - The market is now characterized by a "stock game" where banks must focus on retaining existing customers rather than acquiring new ones through incentives [5][24] - Many banks are reducing the benefits associated with credit cards, such as airport lounge access and other premium services, in response to the changing market conditions [6][7] - The trend of discontinuing co-branded credit cards is evident, with numerous banks ceasing to offer popular co-branded products due to low engagement and inefficiency [7][8] Future Outlook - The credit card industry is expected to evolve towards providing enhanced customer experiences and tailored services, rather than merely focusing on the volume of cards issued [19][24] - The integration of advanced technologies such as AI and big data is anticipated to play a crucial role in improving service delivery and customer engagement in the credit card sector [19][24] - Despite the challenges, credit cards remain a vital tool for consumer finance, with a total outstanding credit card loan balance of 8.71 trillion yuan, significantly higher than that of consumer finance institutions [19][24]

Core Viewpoint - As of the end of 2024, the Industrial and Commercial Bank of China (ICBC) has expanded its organizational structure, adding a new department for personal credit business and restructuring the consumer rights protection office under the personal financial business department [1][2]. Group 1: Organizational Structure - ICBC has a total of 37 head office departments, including the newly added personal credit business department and the consumer rights protection office now under the personal financial business department [1][2]. - The 37 head office departments include various divisions such as corporate finance, personal finance, risk management, and financial technology [2]. - There are 9 direct institutions under the head office, including departments for credit cards, precious metals, and private banking [3]. Group 2: Branch and Employee Data - By the end of 2024, ICBC has 36 first-level branches, 460 second-level branches (an increase of 1 from the end of 2023), and 15,107 grassroots branches (a decrease of 120 from the end of 2023) [3]. - The total number of employees at ICBC is 415,200, with 21,590 at the head office. The gender distribution is 51.7% female and 48.3% male, with 13.3% holding a master's degree or higher [3].

附工商银行总行组织架构和内设部门图如下： 文章来源：投资风险官；作者：望星者 END 截至2023年末，工商银行总行共有内设部门33个（见文后附图）、9个总行直属机构（分别为 银行 卡 业务部（牡丹卡中心）、 贵金属 业务部、票据业务部、私人银行部、长春金融研修院、杭州金融研 修院、业务研发中心、数据中心和软件开发中心）。总行内设部门加直属机构共计42个，比 建设银行 总行多2个。 总行另有 内部审计部 直接向董事会审计委员会汇报，并同步有第二条汇报路线（即向监事会和高 级管理层汇报）。 此外，工商银行境内控股子公司还涉及金融租赁（工银金租）、基金（工银瑞信）、保险（工银安 盛）、理财（工银理财）等金融业务。 本文系原创，纯属个人观点，仅供学习交流， 不构成投资推荐 。若有出入，请咨询专业机构并查询相关法律法规及监管部门意 见，本人不承担任何责任。 欢迎关注 请 关注 上方公众号，欢迎" 分享 "" 收藏 "" 点赞 " ...