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Moody's: Four major Chinese state-owned banks face continued profit pressures in the first half of the year, with slower asset growth.
Credit rating agency Moody's published comments on the Chinese banking industry, indicating that the net profit of the four major Chinese banks, including ICBC (01398.HK), CCB (00939.HK), ABC (01288.HK), and BOC (03988.HK), collectively declined by 0.7% year-on-year in the first half of 2024. The decline in net interest income and fee income exceeded the decrease in loan costs and the increase in investment returns. Moody's expects that with the continued contraction of net interest income, the profitability of the banks will continue to be under pressure, while the slowdown in asset growth will alleviate the pressure on profitability to a certain extent. Moody's stated that the four major state-owned banks in China
Express News | Former chairman Shi Wenchao of the cross-border clearing company has been appointed as a director of the Shanghai Stock Exchange.
Is it urgent enough to reduce the interest rate on existing housing loans? In the first half of the year, the non-performing balance of personal loans in the six major state-owned banks has reached 352 billion yuan, and the non-performing rate has general
In the first half of this year, the total amount of non-performing loans of the six major state-owned banks has reached 352.091 billion yuan, exceeding the 300 billion yuan threshold for the first time. Compared with the data from early 2024 (291.371 billion yuan), it can be calculated that in the first half of the year, the six major state-owned banks added approximately 60.7 billion yuan of non-performing loans. Industry insiders believe that in the current environment, it is not advisable to excessively rely on reducing existing housing loans to play a greater role in promoting consumer spending.
China Greatwall Technology Group, Units Seek Credit Line Adjustments
At least 10 senior executives of listed banks are optimistic. Has the net interest margin really bottomed out? Fitch raised objections: LPR may be further reduced.
In the second quarter of 2024, the net interest margin of commercial banks was 1.54%, showing signs of stopping the decline for the first time. Recently, several listed banks' executives have also publicly stated that there are signs of stabilization or a slowdown in the decline of the net interest margin, injecting a strong boost into the market. Huayu Ratings recently stated, "It is too early to determine whether the net interest margin has bottomed out. The government may further lower the LPR to reduce loan costs.
Many major bank apps have launched the "Existing Home Loan Interest Rate Adjustment" function? In fact, it was introduced last year, and on the eve of the traditional busy season for property sales, the 37.8 trillion silver stock housing loans have once a
①The application port for the adjustment of the existing house loan interest rate was set for the unified adjustment of the existing house loan interest rate last year, not the latest launch. ②Refer to the reduction of existing house loan interest rates in August-September last year, and there is also a possibility of reducing existing house loan interest rates in the future. ③Based on the scale of existing house loans in the second quarter of 2024, which reaches 37.8 trillion yuan, the maximum amount of house loan interest that the residential sector needs to repay each year may be reduced by about 300 billion yuan.
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