On April 28th, commercial banks are intensively shutting down credit card branch centers in different locations. Recently, the Hebei Financial Regulatory Bureau approved the closure of the Baoding and Tangshan branches of the Bank of Communications Pacific Credit Card Center. Just a few days ago, the Bank of Communications Pacific Credit Card Center received approval from the Zhejiang Financial Regulatory Bureau to terminate operations at six branch centers in Hangzhou and Jinhua, Zhejiang. According to statistics from reporters, the pace of Bank of Communications closing credit card centers in remote branches has accelerated, with 23 cases reported so far this year. In addition, banks such as Guangfa Bank and Minsheng Bank are gradually closing their credit card branch centers in different locations. The transformation of credit card business from vertical management to local operation is a microcosm of commercial banks actively shrinking their front line against the backdrop of slowing retail business development.
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