Chasing after asset management size growth, banks are starting a retail "asset battle".

The banking industry is currently embarking on a "asset grab" in the retail sector. On May 26th, a reporter from Shanghai Securities News learned that many banks have recently launched intensive "asset enhancement" activities, attracting customers to transfer funds into their own banks through methods such as WeChat discounts, consumer vouchers, points, and rights packages. Unlike the past fancy deposit attracting campaigns, the focus of this round of bank marketing has shifted from single deposit size to asset management scale growth. Industry insiders believe that under multiple pressures such as continuous narrowing of net interest margins, accelerated outflow of household savings, and approaching end-of-quarter evaluations, the need for banks to stabilize AUM (asset under management) is becoming more urgent. Although "red envelope distribution" can quickly increase customer activity and temporary scale, the ultimate competition for banks to truly retain customers still lies in wealth management capabilities.