"Banks generally cut salaries" is a rumor and a reminder
Li Yuchen
Recently, a WeChat chat record of a financial institution’s salary cut circulated in Moments. According to the news in the chat log, due to policy requirements, the national financial industry has to cut salaries. According to reports, on August 6, the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank responded to the salary issue. They all stated that there is no plan to reduce salary.
Following the statement of the financial giants represented by the “four state-owned banks”, it is believed that the public’s attention to the “salary reduction crisis” will soon cool down. However, the hidden dangers behind the turmoil on the healthy development of the banking industry Warnings and reminders, but they have just broken the question.
From the response of the "four major state-owned enterprises", we have all read this sentence: The total wages are verified in accordance with the wage determination mechanism of state-owned financial enterprises established by the Ministry of Finance, and follow the principles of marketization and corporate governance requirements to increase wages and profits. Keep matching. It can be seen from this that the level of salary in the banking industry must first meet the relevant approved standards, and the second must be directly linked to profits.
And when we carefully examined the "Implementation Measures for the Reform of the Wage Determination Mechanism for State-owned Financial Enterprises" issued by the Ministry of Finance and related detailed rules, we found that the determinants of total bank wages are related to the increase in net profit and operating income. This means that the contribution rate of banks in serving the real economy, supplemented by risk prevention and control capabilities, and the increase in their own benefits brought about by this, have been more closely linked to salary. If business performance declines, salary declines, if business performance rises, salary rises. This is true for state-owned banks and even more so for private joint-stock commercial banks.
The emergence of the rumors that "banks generally cut salaries" has something to do with some people's concerns about the possible decline in the current operating performance of the banking industry due to the dual factors of the new crown pneumonia epidemic this year and the international economic recession. In this regard, some economists have analyzed that in the first half of this year, from the perspective of the bank's own situation, operating performance and profit income are still relatively optimistic. This also confirms from one aspect the clear statement of the "four major state-owned banks" statement that "there is currently no salary cut arrangement."
There will be no major pay cuts at the moment, and will they fall in the future? This depends on whether the banking industry can face various uncertain risk challenges and develop benign and healthy. The economy is the body, and finance is the blood. Both are prosperous, and both are damaged. Therefore, improving the ability and level of the banking industry to serve the real economy is the focus and breakthrough point for banks to seek their own sustainable development under the current situation.
For those companies that are experiencing temporary difficulties but still have development prospects, the current problems are mainly focused on the funding level. Can banks take the initiative to provide assistance to help them develop and accumulate quality customers for their own development? According to central bank data, in the first half of this year, RMB loans increased by 12.09 trillion yuan, an increase of 2.42 trillion yuan year-on-year. Since the beginning of this year, the financial sector has made three ways to give profits to enterprises, including lowering interest rates and directing monetary policy tools to promote profit distribution and banks. The reduction of fees and benefits is expected to be 1.5 trillion yuan for the entire year. This move has not only solved the urgent needs of real enterprises, but also laid a solid foundation for the future stability of the banking industry.
Small, medium and micro enterprises are an important carrier of employment protection, and the capital turnover under the influence of the epidemic is a headache. Can banks implement precise policies to alleviate "pain points"? of course can. In the first half of this year, the growth of bank loans to small, medium and micro enterprises reached 25.4%, which provided strong support for stabilizing enterprises and ensuring employment, and became a highlight in the financial data in the first half of the year. A banking industry that has social responsibility and serves the overall economic situation is a "stabilizer" for the country's transformation and development.
At the same time, scientifically optimizing the profit model, adjusting the product system, creating multi-level, wide-coverage, and distinctive financial products, and actively preventing and dissolving various risks are also an important part of fundamentally improving the overall strength and competitiveness of the banking industry.
In fact, whether it can respond to the country's macro policies, serve the micro economy and the real economy, and strengthen and expand itself in the process is an equally important factor in the bank's salary verification mechanism as the increase in revenue and profit.