Deep adjustment of bank credit card business: Co-branded card issuance suspension trend spreads.

Several rural commercial banks in Zhejiang Province recently announced the suspension of issuing the Harvest-JD co-branded cards, marking the beginning of a deep adjustment period for the credit card business in banks. In recent years, measures such as suspending co-branded cards, consolidating credit card apps, and closing out-of-town branches indicate that the banking industry is shifting from scale expansion to cost reduction and efficiency improvement. State-owned banks and joint-stock banks have also joined the adjustment trend, suspending the issuance of multiple co-branded cards to focus on high-value consumer scenarios. In terms of channels, banks are implementing "decluttering" by integrating online apps and offline branches to reduce management costs. Behind these adjustments is the pressure on the performance of the credit card business, with the number of cards issued declining for three consecutive years. In the future, banks may shift from a scale-driven approach to a value-driven approach, seeking new growth opportunities.