In the first half of the year, the bank’s operating loans and consumer loans increased substantially, and the interest rate ＂rolled out＂ to a new low.

　　Under the background of large-scale shrinking of personal housing loans, business loans and consumer loans became the main growth force of personal loans of listed banks in the first half of the year.

　　According to Wind statistics, in the first half of this year, the balance of operating loans of 13 listed banks achieved double-digit growth compared with the beginning of the year, and the balance of consumer loans of 21 banks achieved double-digit growth compared with the beginning of the year. Among them, the balance of consumer loans of Chengdu Bank in the first half of the year increased by 388.06% compared with the beginning of the year.

　　With the recovery of consumption in the post-epidemic era, banks have seized the "golden period" to promote consumption, and launched round after round of interest rate preferential activities with red envelopes, coupons and discount coupons as selling points, and interest rates have "rolled out" to a new low.

　　Business loans and consumer loans increased substantially.

　　Personal housing loans, personal consumption loans, personal business loans and credit card overdrafts are the main components of personal loans of banks. In the first half of this year, personal housing loans shrank in a large area, and the total amount of personal housing loans of 42 listed banks decreased by 0.36% compared with the beginning of the year, of which the mortgage scale of 24 banks declined. However, business loans and consumer loans show a trend of substantial growth.

　　At the press conference of the State Council Office held on July 14th, Ruan Jianhong, spokesman of the People’s Bank of China and director of the Department of Investigation and Statistics, introduced that household loans increased by 2.80 trillion yuan in the first half of the year, an increase of 572.3 billion yuan year-on-year. The main reason for the increase in household loans is the increase in personal business loans and short-term consumer loans.

　　Among them, in the first half of the year, personal business loans increased by 2.3 trillion yuan, an increase of 759.3 billion yuan over the same period of last year; Personal short-term consumer loans increased by 300.9 billion yuan, an increase of 401.9 billion yuan.

　　According to statistics from Wind, CBN: Among 42 listed banks, 35 banks disclosed operating loan data. As of June 30, the balance of operating loans of 35 banks totaled 6.69 trillion yuan, up 15.55% from the beginning of the year, and the growth rate increased by 3 percentage points compared with the same period of the previous year, with a net increase of nearly 900 billion yuan. Among them, the balance of operating loans of 13 banks achieved double-digit growth compared with the beginning of the year.

　　Among the 42 listed banks, 37 banks disclosed the balance of consumer loans. As of June 30, the balance of consumer loans of 37 banks totaled 37.61 trillion yuan, a substantial increase of 27.17% compared with the beginning of the year, with a net increase of over 8 trillion yuan, while the growth rate in the same period last year was only 10.32%. Among them, the balance of consumer loans of 21 banks achieved double-digit growth compared with the beginning of the year.

　　In the same period, the loan balance of 42 listed banks totaled 156.73 trillion yuan, an increase of 7.98% over the beginning of the year; Among them, the balance of personal loans totaled 58.72 trillion yuan, an increase of only 3.1% over the beginning of the year.

　　Obviously, the growth rate of business loans and consumer loans is much higher than the overall growth rate of personal loans.

　　The growth rate of state-owned banks is obvious

　　Among these listed banks that disclose data, the growth rate of state-owned banks is particularly obvious.

　　For example, ICBC seized the favorable opportunity of economic recovery and consumption stabilization in the first half of the year, and continued to strengthen the marketing and promotion of key products such as home loan portfolio loan, e-loan quick loan and e-loan financing. In the first half of the year, its personal consumption and operating loans increased by over 280 billion yuan, an increase of 146.5 billion yuan year-on-year. Among them, as of June 30, the balance of ICBC’s personal business loans was 1,189.042 billion yuan, an increase of 27.85% over the beginning of the year, ranking first in the growth rate; The balance of consumer loans was 262.397 billion yuan, an increase of 11.95% over the beginning of the year.

　　In the first half of the year, the Agricultural Bank of China actively expanded new consumption scenarios, improved the availability and convenience of consumer finance, and increased the supply of consumer credit to meet the consumer finance needs of residents such as home improvement, electronic products, automobiles and cultural tourism. Continue to increase credit support for Pratt & Whitney customers in key areas such as wholesale and retail, accommodation and catering, resident service and freight logistics. Consumer loans totaled 228.7 billion yuan in the first half of the year, and personal business loans totaled over 490 billion yuan in the first half.

　　As of June 30, the balance of personal business loans of Agricultural Bank of China was 697.695 billion yuan, an increase of 20.98% compared with the beginning of the year, and its proportion in personal loans increased by 1.1 percentage points. The balance of consumer loans was 261.46 billion yuan, an increase of 34.95% over the beginning of the year.

　　The balance of inclusive small and micro enterprise loans and personal consumption loans of Bank of Communications increased by 19% and 39% respectively compared with the end of last year, and the proportion also continued to increase.

　　In addition, as of June 30, the balance of personal consumption loans of China Construction Bank was 368.802 billion yuan, an increase of 73.359 billion yuan or 24.83% compared with the beginning of the year. The balance of personal business loans was 608.865 billion yuan, an increase of 193.521 billion yuan compared with the beginning of the year, with an increase rate of 46.59%, ranking first among 35 banks. In the annual report, China Construction Bank said that its personal business loans launched new versions of fist products such as "merchant cloud loan" and "business leaf cloud loan", creating a "second track". Personal consumption loans adhere to innovation, meet the reasonable consumption financing needs of residents, and promote the development of the consumer market.

　　Among the stock banks, the balance of retail micro-loans of China Merchants Bank was 709.306 billion yuan, up by 12.65% compared with the beginning of the year, and the balance of consumer loans was 272.351 billion yuan, up by 34.68% compared with the beginning of the year. The operating loan of CITIC Bank increased by 13.11% and the balance of consumer loan increased by 10.61% compared with the beginning of the year.

　　Among the regional banks, Chengdu Bank has achieved substantial growth in operating loans and consumer loans, in which the balance of operating loans increased by 33.03% and the balance of consumer loans increased by 388.06% compared with the beginning of the year. In the same period, the personal mortgage of Chengdu Bank only increased by 3%, and the credit card overdraft dropped by 44.11%.

　　The operating loans and consumer loans of Sunong Bank also increased significantly. In the first half of the year, the personal loans of Sunong Bank increased by only 6.03% compared with the beginning of the year, among which the personal business loans increased by 8.37% compared with the beginning of the year and 29.6% compared with the same period of last year. Personal consumption loans increased by 27.2% compared with the beginning of the year and 21.8% compared with the same period of last year. Personal business loans and personal consumption loans contributed 10.8% and 8.9% of the net new loans respectively.

　　Interest rate "rolled out" to a new low

　　In the context of consumer recovery, consumer loans and business loans have become the starting points for banks to sprint the scale of individual loans. With the two downward adjustments of LPR during the year, the cost of micro-credit loans such as consumer loans continued to decline.

　　On July 31st, the National Development and Reform Commission issued the "Measures on Restoring and Expanding Consumption". In terms of optimizing the consumption environment, it is proposed to pay more attention to the real consumption behavior, strengthen the supervision of the use and flow of consumer credit, and promote the reasonable increase of consumer credit.

　　According to the data monitored by Rong 360 Digital Technology Research Institute, in July 2023, the average interest rate of national bank consumer loans was 3.57%, down 79BP year-on-year. Among them, the average minimum executable interest rate of state-owned banks’ consumer loans is 3.58%, and the average minimum executable interest rate of stock banks’ consumer loans is 3.56%. This is the first time that the average interest rate of stock banks’ consumer loans is lower than that of state-owned banks.

　　In this consumer loan price war, stock banks are more radical.

　　For example, Shanghai Pudong Development Bank recently released the "Pushan Loan Monthly Enjoy" preferential welfare release activity. According to the content of the activity, from September 1 to 30, Shanghai Pudong Development Bank launched a 3.2% interest rate coupon and a 7.5% discount interest rate coupon.

　　The annualized interest rate (simple interest) of China Merchants Bank is as low as 3.5% for business loan products of small and micro enterprises and individual industrial and commercial households. Recently, China Merchants Bank also launched an activity to draw interest coupons, with a maximum discount of 1,888 yuan.

　　In addition to national banks, city commercial banks and rural commercial banks, which are active in the field of personal loans, have also given very "sincere" prices. For example, Bank of Ningbo’s "Easy Loan" claims that you can get a loan if you have a house, with a maximum loan amount of 10 million yuan and an interest rate of only 2.98%. If two people go on a trip, each person can get an extra coupon of 888 yuan. Zijin Rural Commercial Bank launched the "Zijin e-loan" consumer loan interest rate preferential activity for citizens aged 23-60 in Nanjing, with the maximum loan amount of 300,000 yuan and the annualized interest rate (simple interest) as low as 3.78%. The "Golden Rice Consumption E Loan" launched by Guangzhou Rural Commercial Bank has an annualized interest rate (simple interest) as low as 3.6%, a maximum amount of 1 million yuan and a maximum term of 10 years.