On March 31st, the reporter obtained confirmation from multiple state-owned banks, joint-stock banks, and city commercial banks that the head offices of several banks have issued internal notices to their branches: starting from April, the annualized interest rate of credit consumer loan products will be raised to no less than 3%. This means that after experiencing a new round of “price wars” since the beginning of the year, bank consumer loans will return to rationality. Several industry analysts have told Securities Times reporters that financial institutions should abandon their scale and speed complexes, and no longer simply pursue simple scale growth and market share. Instead, they should maintain loan interest rates at a reasonable level to enhance their business sustainability. (Securities Times)
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