06818 CEB BANK
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Express News | Within five years, central enterprises will fully establish a "scientific, rational, and efficient" board of directors.
East Money Information to Guarantee Subsidiary's 900 Million Yuan Debt
The report quotes experts as saying that the LPR remained unchanged in September due to the large pressure on the net interest margin of silver banks, and there is not a great urgency for a short-term reduction.
The People's Bank of China announced this morning (20th) that the loan market quoted interest rates (LPR) for September remain unchanged. The 1-year LPR is maintained at 3.35% per month, and the LPR for more than 5 years is maintained at 3.85% per month. According to the "Finance Association," industry experts revealed that the stability of the September LPR interest rate is mainly due to the relatively large pressure on the net interest margin of domestic banks. The policy interest rate (7-day reverse repurchase rate) remains unchanged, and there is no urgent need to continuously reduce the policy interest rate and guide the LPR quote to follow suit. Looking ahead, industry insiders believe that after the Federal Reserve's large interest rate cut, China's monetary policy has more flexibility to adjust, and there is room for further interest rate cuts and reserve requirement ratio reductions in the future.
There is no urgent need for a short-term reduction. The September LPR quote remains unchanged, and the industry expects the main policy interest rates to be lowered to promote LPR adjustments within the year.
① The main reason for the stable LPR interest rate in September is the large pressure on banks' net interest margins, and the policy rate (7-day reverse repurchase rate) remains unchanged. ② Taking into account the current economic situation and price trends, the central bank is likely to lower the main policy rate in the fourth quarter, that is, the 7-day reverse repurchase rate, with an estimated downward adjustment of 10 to 20 basis points, which will guide LPR quotes to follow suit.
China International's investment rating and target price for China mainland banking stocks (table) in Great Bank.
Bank of China International issued a report stating that the preferred choice for China mainland banking stocks is Agricultural Bank of China (01288.HK). They also recommend investors to buy China Merchants Bank (03968.HK), Industrial and Commercial Bank of China (00939.HK), Bank of China (01398.HK), and Postal Savings Bank of China (01658.HK). The investment ratings and target prices for the China mainland banking stocks are as follows: Stock │ Investment Rating │ Target Price Bank of China (00939.HK) │ Buy │ HKD 8.2 Agricultural Bank of China (01288.HK) │ Buy │ HKD 5.22 Industrial and Commercial Bank of China (01398.HK) │ Buy │ HKD 6.25 Postal Savings Bank of China (01658.HK) │ Buy │
After the Mid-Autumn Festival, the consumer loan interest rates of banks starting with the number "1" are gradually ending, with 2.88% still being the mainstream. The industry believes that in the long term, it will still enter the range starting with the
1. Although various commercial banks have all launched consumer loan promotional activities, the optimal level of annual interest rates for consumer loans is still maintained at 2.88%. 2. In order to increase the credit release efforts, banks have lowered the interest rates of consumer loans in exchange for quantity, and this has become a common situation in the consumer loan market. 3. With interest rates at a downward trend, consumer loan interest rates are expected to continue to decline, and the market's consumer loan levels may enter the single digits.
In Lyon's "Great Banking", financial experts expect that the mainland may soon cut interest rates. If the policy effectively eases the net interest margin losses, there is a preference for China Construction Bank (00939.HK) and Ping An Bank (03968.HK).
Lyon's report states that the banking industry in China has not yet seen the light at the end of the tunnel. Last week, the bank met with banking and financial industry experts in four cities in mainland China and indicated that there was no significant improvement in related businesses, loan demand remained weak, the quality of retail assets may deteriorate further, and there were no signs of a peak. However, the maturity of time deposits and lower interest rates will bring encouraging performance to net interest margin, but there is still the risk of potential lowering of mortgage loan rates that has not been realized. Bankers have not found any significant catalysts that can change the situation of "economic weakness, weak demand", and it is estimated that next year may be another year of soft loan growth for the bank.
Galaxy Securities: Bullish on the dividend value of the banking sector.
China Galaxy Securities research reports indicate that the governance of financial 'squeezing out water' and the circulation of funds continue, and credit injection is slowing down and improving in quality, with a balanced pace and a reasonable growth in total amount, supported by government bond issuance to boost social financing.
Hot Spot | CM Bank rose more than 3%, leading the gains in china mainland banking. The high dividend allocation value of banks is still attractive.
China mainland banking stocks rose across the board, with CM Bank up 2.89% to HK$30.3; Postal Savings Bank of China up 1.94% to HK$4.21; Bank of China up 1.76% to HK$3.46; Bank of Communications up 1.89% to HK$5.39.
Express News | Guangda Wealth Management welcomes a new party secretary, Wang Jingchun, returning again.
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.
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.
Express News | Citic Securities: The fundamental pattern of the banking sector is stable, and the value of allocation is evident after the sector has undergone a correction.
Guosen Securities: The potential bearishness in the banking sector has significantly decreased, and next year is expected to bring a turning point in performance.
The current valuation of the banking sector is at a low level, after experiencing real estate risk exposure and adjustments to existing home loan interest rates, the potential bearishness of the sector has significantly reduced, with lower downside valuation risk.
Minsheng Securities: The overall revenue of the banking sector is still under pressure, while the growth rate of net income attributable to shareholders has returned to normal. The pressure on asset quality may be relieved.
Against the background of the gradual exposure and clearance of real estate risks, concerns about the significant fluctuations in the quality of bank assets have eased, and the valuation of the banking sector is expected to further improve.
The six major state-owned banks led the decline, and the expectation of interest rate cuts for existing home loans dealt a heavy blow to the banking sector. As the window period for September real estate policies approaches, how to balance the 200 billion
①As of the closing, 40 out of 42 listed bank stocks fell. The banking sector led the decline in all sectors, with the six state-owned banks leading the decline in the banking sector; ②Several interviewees told reporters that the decline in bank stocks today is partly due to the increasing expectations of rate cuts for existing home loans in the market; ③Estimates by China International Capital Corporation show that assuming the average mortgage interest rate is reduced by about 60bp, it is estimated to reduce borrowers' interest expenses by approximately 240 billion yuan per year.
During the first half of the year, while 1,126 bank branches closed, the number of branches for the six major state-owned banks increased slightly by 700, with Agricultural Bank of China alone adding over 800.
Based on the data from the semi-annual reports of listed banks, according to the statistics by Caijing News, the overall number of network points of the six state-owned banks is about 1.056 million, which has still increased by about 700 branches compared to the beginning of the year. According to the data from the official website of the China Banking and Insurance Regulatory Commission, about 1,126 subordinate branches of commercial banks announced their closure in the first half of this year, which means that although state-owned major banks are expanding against the trend, the steady contraction of bank branches is still the mainstream.
Jin: If the mainland existing mortgage interest rates are reduced in two scenarios, it is expected to affect the net profit of domestic banks by 7% in Daying.
According to the report released by CICC, the People's Bank of China mentioned in a recent interview that it is promoting the stability and reduction of financing costs for enterprises and household credit. It is also studying policies and measures to increase reserves. The market is concerned about the possible form and impact of the reduction in existing mortgage rates. The report refers to past experiences of reducing existing mortgage rates for discussion. The bank pointed out that after the reduction of existing mortgage rates in the mainland in the fourth quarter of last year, the national minimum interest rate for new housing loans was canceled in May this year, and the interest rate for new housing loans has continued to decline. According to the data of the People's Bank of China, the interest rate for new housing loans was 3.45% as of June, and considering the estimated reduction in LPR in July, the new loan rate is estimated to be 3.35%.
CEB Bank (06818) has obtained approval from the China Banking and Insurance Regulatory Commission for the change in registered capital.
CEB Bank (06818) announced that after the conversion and delisting of its A-share convertible corporate bonds, the bank...
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