Introduction:
Credit disbursement is the top priority of banks' operations. **The work report has a "guiding point" effect on the bank's credit delivery in the current year. What signals does this year's work report send to the credit delivery of rural commercial banks? Please pay attention to the analysis and interpretation brought by the reporter of "China Cooperation Times".
Author丨Hu Hongkai, chief reporter of China Cooperation TimesAt 9 o'clock in the morning of March 5, the second session of the 14th National People's Congress opened in the Great Hall of the People. Reading through the full text, the reporter of "China Cooperation Times" extracted four main directions from the perspective of credit delivery of rural commercial banks, in order to provide reference for rural commercial banks in reform and development, so as to not only "bury their heads in pulling cars", but also "look up at the road".
Direction 1: Narrowing interest rate spreads
**The work report proposes to "promote the steady and moderate decline of comprehensive social financing costs." ”Trend Analysis:2024 is a key year to achieve the goals and tasks of the 14th Five-Year Plan, in order to consolidate and enhance the economic recovery and positive trend, "promoting the steady and moderate reduction of comprehensive social financing costs" has become the meaning of China's economic development this year. For financial institutions, in addition to increasing credit investment in the real economy, they also need to reduce fees and make profits, and these influencing factors will be passed on to small and medium-sized banks in rural areas, which will cause the net interest margin to further narrow. The narrowing of interest rate spreads in response to the war is a hurdle that rural commercial banks cannot avoid. Throughout the past three years, the net interest margin of rural commercial banks has been declining, from 226%, down to 207%, 1. in 202388%，And 18% is widely regarded as a net interest margin reference for banks to maintain reasonable profits.
It is worth paying attention to the report"Steady and falling".Four words, meaning 2024 Rural Commercial BankNet interest margins will narrow, but the decline will be very small.
Strategic Approach:The narrowing of net interest margin is the trend of the times, and rural commercial banks should face the challenges head-on and operate smartly. First of all,Catch the customer,Take the expansion of households as the core starting pointPromote the whole village credit in rural areas, and carry out grid marketing in urban areas. With customers, there is the foundation of survival and development. Secondly,Adjust the structure of liabilities and assetsDo "subtraction" on the liability side and "addition" on the asset side. Again,Open up the "second growth curve" of profitability,Expand non-interest income**, including financial market business and intermediary business.
Direction 2: Support the development of new quality productive forces
**The work report proposed, "vigorously promote the construction of a modern industrial system and accelerate the development of new quality productive forces." ”Trend Analysis:On the afternoon of March 5, when participating in the deliberations of the Jiangsu delegation at the second session of the 14th National People's Congress, the general secretary stressed that it is necessary to firmly grasp the primary task of high-quality development and develop new quality productive forces according to local conditions.
The development of new quality productivity is an intrinsic requirement and an important focus for promoting high-quality development. It is necessary to promote industrial innovation with scientific and technological innovation, especially to promote new industries, new models and new kinetic energy with disruptive technologies and cutting-edge technologies, and develop new quality productive forces, which is to provide strong impetus and support for high-quality development. The economy determines finance, the Rural Commercial BankCredit investment should serve the overall development of the country and practice the political and people-oriented nature of finance.
Strategic Approach:**The work report proposes to "implement the technological transformation and upgrading project of the manufacturing industry, cultivate and expand advanced manufacturing clusters, create a national new industrialization demonstration zone, and promote the high-end, intelligent and green transformation of traditional industries." "Promote the development of small and medium-sized enterprises. "Rural commercial banks support the development of new quality productive forces, specificallySupporting the development of the manufacturing industry
Manufacturing is the main body of the national economy, the foundation of the country, the instrument of rejuvenation, and the foundation of a strong country. As a local financial institution, the Rural Commercial Bank should support the manufacturing industry"Increment, expansion, quality improvement, cost reduction".Direction force.
Strengthen strategic guidanceStrategically, the manufacturing industry loan delivery is an important direction of business workSeparate credit schemes; Credit policy is skewedPromote the investment of credit funds in key areas such as scientific and technological innovation and advanced manufacturing, and increase investment in green economy and low-carbon economy industries; Innovative financial products,Tailor-made characteristic credit products for various manufacturing enterprises, and pledge guarantee for technology-based enterprises with patent rights, trademark rights, and software copyrightsIncrease the provision of credit loans and medium and long-term loans.
Particular emphasis is placed on facing industrial parks"Vacate the cage for the bird".That is, to transfer traditional backward enterprises and introduce advanced manufacturing industry, rural commercial banks should give full play to first-class legal personsThe decision-making chain is short and the response is fastadvantages,Put the service at the forefrontTake the lead in the early docking and follow-up financial services. 3
Direction 3: Make efforts in county finance
**The work report proposes to "cultivate and develop the county economy, make up for the shortcomings of infrastructure and public services, and make the county an important carrier of new urbanization." ”Trend Analysis:In 2023, China will further implement the new urbanization strategy, further relax the conditions for urban settlement, enhance the comprehensive carrying capacity of counties, and increase the urbanization rate of permanent residents to 662%。* The work report is presented, ".There is still a lot of room for development and improvement of China's urbanization. It is necessary to thoroughly implement the new urbanization strategic actions, promote the two-way flow of various elements, and form a new pattern of urban-rural integrated development. "China's urbanization level is still lower than the average level of 75% in developed countries, and there is still room for growth of at least 10 percentage points in the future. In July 2023, 9 departments including the Ministry of Commerce released itThree-Year Action Plan for County Commerce (2023-2025).Give full play to the important role of rural areas as consumer markets and factor markets, further improve the effectiveness of the construction of county-level commercial systems, promote the integrated development of urban and rural areas, and help rural revitalization.
Strategic Approach:"Urbanization will continue to play an important role as an engine of economic growth, as China still has great potential for further urbanization, which will effectively drive investment growth and consumption growth. Lian Ping, chairman of the China Chief Economist Forum, said at the 2023 China Chief Economist Forum Hong Kong Summit.
With the deepening of China's industrialization, urbanization and agricultural modernizationHundreds of millions of rural people have moved to cities and towns through employment and schooling, integrating into the local community and becoming new citizens.
The county is not only the "blue ocean" of the bank customer market, but also the "red ocean" of competition among many banksThis is a critical period for financial institutions to compete for this high-quality customer resource.
The vast majority of the national rural commercial banks are county-level legal entities, rooted in the local, multi-faceted, familiar with people, places, and situations, and closely related to the local governmentServing new citizenswithDevelop consumer financehas unique advantages.
Rural Commercial Bank should focus on doing a good job in county financeThe new citizen of the county, the focus of credit should be on new citizensFinancial needs in key areas such as entrepreneurship, employment, housing, education, medical care, and pension。Among them,Social security card businessIt is the "magic weapon" to win over the new citizens, and the rural commercial bank must firmly grasp it and not take it lightly.
Direction 4: Dig deep into existing customers
**The work report proposes to "strengthen the dual adjustment of total volume and structure, revitalize the stock and improve efficiency." "Smooth the monetary policy transmission mechanism to avoid the precipitation of funds idling. ”Trend Analysis:In order to allow banks to release more credit resources to support the real economy, in March and September 2023, the People's Bank of China lowered the reserve requirement ratio twice, releasing medium- and long-term liquidity exceeding one trillion yuan. On February 5, 2024, the reserve requirement ratio was lowered by 05 percentage points, a one-time release of long-term liquidity of 1 trillion yuan.
On March 6, the Second Session of the 14th National People's Congress held a press conference on economic themes. At the meeting, Pan Gongsheng, governor of the People's Bank of China, said that China's monetary policy toolbox is still rich, and at present, the average reserve requirement ratio of China's banking industry is 7%.There is still room for RRR cuts in the future。The People's Bank of China (PBoC) will make comprehensive use of a variety of monetary policy tools, intensify counter-cyclical adjustment, maintain reasonable and abundant liquidity, and support the steady growth and balanced distribution of social financing and total monetary credit.
For rural commercial banks, while having more credit resources, it is also necessary to make good use of credit resources. HowUse limited and valuable credit resources to the "cutting edge".It is worth pondering for the people of the Rural Commercial Bank.
Strategic Approach:Under the circumstance that the big banks continue to sink and "pinch the tip" and "dig the roots" of the customers of the rural commercial banks, the competition between the rural commercial banks and other banks in the county is moreThe battle for existing customers。Compared with expanding new customers and keeping existing customers, the investment in terms of manpower, material resources and energy is much higher.
The 2023 ** Financial Work Conference emphasizedRevitalize the financial resources that are inefficiently occupied and improve the efficiency of capital use. Therefore, on the premise of not giving up on expanding new customers, rural commercial banks need to have more strategic methodsHold, revitalize, and dig deep into the stock of customers
In the competition with other banks for existing customers, because other banks poach rural commercial bank customers at low interest rates or even ultra-low interest rates, this is very important for rural commercial banksThere is a dilemma between "guarding the market" and "guarding efficiency".
If the profit is lost, it can be earned again; If the customer is lost, the root is lost. How to retain existing customers? This requires the Rural Commercial BankIt is necessary to calculate both the current account and the long-term account; It is necessary to calculate not only the profit contribution of the customer, but also the comprehensive contribution of the customer. The key is to give full play to the advantages of the mechanism of rural commercial banks with short decision-making chain and flexible response, as well as the advantages of refined and differentiated services, in the competition with other banksNo better than the best service, with "no best, only better" service, to win customers, win the market.
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* China Cooperation Times, Rural Finance.
Producer: Cai Liang, Editor: Hu Hongkai, Producer: Han Sijia.