Industrial Bank issued another 20 billion second-tier capital bonds in the second quarter, and the bank accelerated the issuance of 2 permanent bonds by more than 314.7 billion yuan
① Since the second quarter of this year, 18 banks have successively issued second-tier capital bonds and perpetual bonds (including proposed issuance), with a total issuance scale of 314.75 billion yuan; ② Since May, the yield on bank capital bonds has diverged. Experts believe that there is still room for strength under the imbalance in the supply and demand structure.
Salary cuts to sole proprietors? Huaxia Bank plans to adjust the directors' allowance standards. The sole director's income or “sharp rise and fall”, the reduction is about 9%
① Huaxia Bank's bill on the adjustment of directors' allowance standards attracted market attention. Due to changes in calculation rules, the bank's sole manager's allowance will probably drop to a certain extent from the level in the previous year's financial report. ② The new directors' allowance standard is 355,000 yuan/person/year. According to the 2023 financial report, Huaxia Bank's sole director's salary is generally around 390,000 yuan. Based on this initial calculation, the sole director's allowance was reduced by about 9%.
There are also banks that “take action” on large deposit slips! Minsheng Bank suspends sales of large deposit certificates with a term of half a year or more, and bank pressure drops and high-cost deposit products continues
① Since May 7, Minsheng Bank has stopped selling large deposit certificate products with a term of half a year or more. Interest rates on specialty deposit products with a term of three or five years have exceeded 5BP for large deposit certificates. ② Experts pointed out that the purpose of banks suspending the sale of long-term large deposit certificates is to ease the pressure of narrowing net interest spreads by reducing long-term high-interest debt and reducing debt-side costs. But at the same time, the difficulty of collecting savings will also increase, and banks will need to explore more diversified savings channels.
Bank stocks continue to rise, and support is here! Star Fund managers' holdings increased month-on-month, Huaxia Bank, Qilu Bank, and Bank of Wuxi to the list of new entrants
① The valuation pricing of banks in the financial sector is extremely suppressed by long-term factors. In particular, the valuations of banks with the best historical fundamentals in the sector are both lower in absolute terms. ② As interest spreads continue to narrow and scale expansion slows, banks' revenue capacity may continue to be under pressure, but considering the sector's overall high dividend characteristics and structural opportunities brought about by the division of individual stock operations, sector allocation value will continue to stand out.
The first quarterly report of a listed bank was unveiled. Ping An Bank's net interest spread fell 62 basis points to 2.01%, focusing on key industries to protect profits
① Ping An Bank's revenue was 38.77 billion yuan, down 14.0% year on year; net profit was 14.932 billion yuan, up 2.3% year on year; ② Ping An Bank's net interest spread fell to 2.01%, down 62 basis points from the same period last year; ③ Ping An Bank adjusted its business strategy in the first quarter to focus on key industries and new tracks for public business. Preliminary results showed that the growth rate was impressive.
Slap Fitch in the face! China CITIC Bank has surged in two days. Behind the rise in bank stocks, the size of low-wave dividend ETFs has already doubled 11 times during the year
① Represented by China CITIC Bank, bank stocks soared for two consecutive days, and a “dividend” essay went viral in the market; ② the new “National Nine Rules” encouraged the allocation value of high-dividend types; ③ The net value of dividend-themed ETFs continued to reach new highs, and the trend of capital inflow remained unchanged.