the data in the first half of this year showed that the credit card business of many banks showed explosive growth, and there were voices in the market worried about overdue credit cards and other issues, which would make credit cards the next bad high-risk area. In this regard, Deng Gang, president of Huaxia Bank Credit Card Center, said in response to a reporter's question from Economic Observer that he did not think credit cards would become the next high-risk area. He pointed out that while the credit card business was growing at a high speed, major banks actually tried to control non-performing loans through big data, AI technology and various models of traditional risk assessment. At the same time, he also said that the customer base of Huaxia Bank's credit card business is younger, and its geographical distribution is mainly concentrated in the Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Hebei region.
Huaxia Bank said that under the background of slow macroeconomic growth and continuous promotion of interest rate marketization, retail finance business has gradually become the focus of bank transformation and development with its characteristics of low volatility and high asset quality, and it has occupied an increasing proportion in all banking businesses.
In this regard, Ren Yongguang, deputy governor of Huaxia Bank, said: "In the past two years, Huaxia Bank's retail finance business has developed rapidly and healthily, and its contribution to the bank's asset scale, operating income and total profit has continued to increase, which has become an important growth point for business development."
At the same time, Yong Guang revealed at the press conference that Huaxia Bank is applying for the establishment of a consumer finance company, and the establishment of the consumer finance company in the future will provide more impetus and innovation for the transformation of Huaxia Bank's retail business.
Huaxia Bank's third quarterly report has not yet been released, but at this conference, some data of Huaxia Bank's retail business segment were disclosed.
It is understood that the retail business of Huaxia Bank mainly includes personal business and credit card business.
At the end of the third quarter of 218, the balance of personal deposits of Huaxia Bank was 254.513 billion yuan, an increase of 15.637 billion yuan or 6.55% over the previous year, the balance of personal loans of Huaxia Bank was about 2 billion yuan, and the balance of personal consumption loans of Huaxia Bank was 174.84 billion yuan, an increase of 31.163 billion yuan or 21.81% over the previous year.
as for wealth management products, at the end of the reporting period, the balance of personal wealth management products of Huaxia Bank accounted for 69.5% of the balance of wealth management products of the whole bank, an increase of 3 percentage points over the previous year. It is worth noting that the balance of Huaxia Bank's net worth wealth management products increased rapidly from less than 1 billion yuan at the beginning of 218 to 26.2 billion yuan.