Guided by the policy of encouraging consumption and stimulating demand, the credit card market in China has maintained rapid development in recent years. Coupled with the pressure of 20 17 banks on public business, banks have transformed retail finance, and credit cards are a great starting point.
According to the latest data released by Rong 360, under the influence of many factors, the growth rate of bank credit cards exceeded other consumer finance businesses in 20 17, and most joint-stock commercial banks accounted for more than 60% of the new card-issuing tasks.
Previously, the data released by the central bank showed that by the end of 20 17, the number of new credit cards and debit cards issued nationwide was1230,000, with 0.39 credit cards per capita, up 25.82% year-on-year, much higher than the growth rate of 6.27% in 20 16 years; Total credit 12.48 trillion yuan, up 36.58% year-on-year, and also significantly higher than the growth rate of 29.06% in 20 16.
According to the statistics of Rong 360, the growth rate of credit card loan balance of at least 7 A-share listed banks exceeded the industry average of 36.83%. Among them, Changshu Bank has a growth rate of 80.43% due to its small base, and credit card banks such as Industrial Bank and Ping An Bank have also reached more than 65%.
The increase in credit card issuance has also intensified the competition for credit card customers. The results of Rong 360 survey show that the customer acquisition cost of offline credit card channel has increased steadily in 20 17 years, while online still has nearly half the cost advantage compared with offline, and the significance of online card issuance channel to bank credit card business has become more and more prominent.
In 20 17, the internet channels of most joint-stock commercial banks have accounted for more than 60% of the new card-issuing tasks completed by bank credit cards.
Li Wanbin, a credit card analyst at Rong 360, believes that the credit card market in China will continue to develop at a high speed in 20 18 under the joint influence of many factors, such as banks focusing on retail, pushing credit cards and opening the sinking channel for credit card users.