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After “515,” banks continued to reduce “high-interest” public agreement deposits. Minsheng Bank recently adjusted three types of products, and more banks may follow suit
① On May 22, Minsheng Bank posted an article on its official website stating that the bank will adjust RMB unit agreement deposits, RMB liquid profit products, and smart notification deposits. ② Since late April, a number of banks have continued to lower interest rates on Chinese unit agreement deposits to 1.15%. ③ A number of banks have lowered interest rates on unit agreements, which is closely related to the requirements of the regulatory authorities. I believe more banks will follow suit in the future.
The chairman and president of Societe Generale Consumer Finance were in place at the same time. Like the previous one, they all came from the parent bank Societe Generale Bank. Executives of at least 8 consumer finance companies changed during the year
① Societe Generale Consumer Finance announced changes in the legal representative and president of the company. This is also the first time that it has changed its chairman since its establishment in 2014; ② Societe Generale Consumer Finance's first chairman Zheng Haiqing and CEO Lin Chun all came from Societe Generale Bank. Chairman Dai Xuxian and CEO Liu Qinghua continue this tradition; ③ In the first half of this year, at least 8 consumer finance companies experienced executive changes, 7 of which were banking companies.
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.
Northbound Capital Purchase Report: China CITIC Bank received net sales of 376 million yuan
Northbound Capital had a significant net sale of 5.285 billion yuan today, which is a net sale for 3 consecutive trading days.
Why did China CITIC Bank block the rise and stop when the A-share bank was in full swing? Will it last?
① Against the backdrop of the release of the new “National Nine Rules” last week, the Shanghai Composite Index rose more than 2% today, while 42 A-share banks collectively closed in red. ② Compared to other sectors, the banking sector has the characteristics of high dividends and high dividends, and dividend income is highly deterministic. It is usually used as a defensive sector to raise the margin of safety.
Is the restructuring of Ping An Bank's head office continuing? A number of banks say they have recently received inquiries from the bank's employees or are preparing to “find the next home”
① Judging from Ping An Bank's friend's question, they should be preparing to “find the next home” or receiving an invitation from a financial headhunter. ② During the 2023 results conference, Governor Ji Guangheng said that the current structural reforms can only be described as showing initial results. ③ Being able to absorb some of the talents spillover from the peace reform process is actually also a good opportunity.
首家跟进执行车贷新规？招商银行信用卡启用新版购车分期协议引关注，回应：响应以往相关政策
①招行修订信用卡购车分期业务协议，将还款模式调整为等额本息，有望降低消费者未来还款压力。 ②新版协议尚未调整车贷首付比例。招行方面回应，已关注到监管有关政策，后续或有跟进调整。 ③行业分析师指出，近期落地的汽车金融政策优化有望提振消费，带动汽车产品的消费升级。
Major shareholders take action! After the stock price plummeted, Everbright Group increased its holdings in Everbright Bank, amounting to no less than 400 million yuan. In the beginning of the year, many listed banks received shareholders' support
① On March 29, 2024, Everbright Group increased its A-share holdings of Everbright Bank by 64.314 million shares through centralized bidding, accounting for 0.11% of the bank's total share capital. It is planned to continue to increase its holdings in the future, with a cumulative amount of not less than 400 million yuan and no more than 800 million yuan. ② Since the beginning of the year, shareholders of several listed banks have taken steps to increase their holdings. The reason why shareholders of three of these banks have increased their holdings is related to the stock price stabilization mechanism.
How to balance dividends and revenue? Can risk exposure subside? How to deal with the pressure of interest spreads? Industrial Bank executives face the focus of market attention
① The overall interest rate from January to February of this year was only 2.05%, down 13 BP from last year. The effect of controlling deposit costs is still very obvious. ② Chen Xinjian said he is confident that it can maintain stable operations, give investors more steady returns, and ensure that the dividend rate remains at a relatively high level.
The dividends of the six major banks will exceed 410 billion for the first time! Strengthening investor returns has become unanimous. Some banks say “since the dividend rate has increased, they have no plans to lower it.”
① According to statistics from the Financial Services Association, the six major banks will first reach 410 billion yuan in dividends this year, reaching another record high. Judging from this year's data, many banks already have dividend rates above 30%. ② At this year's results conference, a number of bank executives also responded positively to issues such as dividend rates, and all said they wanted to strengthen investor returns.
After the disclosure of rare bank performance, A and H stock prices both plummeted. The governor of Everbright Bank urgently “put out the fire”: the main reason the performance fell short of expectations was the provision for additional increases
① After disclosing the annual results yesterday evening, the stock prices of Everbright Bank's Hong Kong shares and A shares all dropped sharply after opening today. ② Wang Zhiheng said that in the case of an overall decline in revenue of 3.92%, the main reason for the 8.96% decline in net profit was an increase of 1,677 billion yuan in credit impairment provisions. ③ Wang Zhiheng said, “The fundamentals of Everbright Bank's operations are stable, and there are no major risks that should have been disclosed but not disclosed.”
Are banks responding to the “multi-red” call one after another? CMB's latest dividend plan stimulates a marked rise in stock prices. Industry: High dividends can interact well with the market
① Recently, a number of banks, including CMB and CITIC, have successively disclosed their annual reports and released their 2023 dividend plans. Among them, Bank of Tianjin was also a rare first dividend after three years; ② Today's closing, “high dividends” such as CMB and Ping An represented a marked rise in the stock prices of banks; ③ Industry insiders believe that listed banks should play an exemplary role and appropriately increase dividend amounts and dividend rates as conditions permit.
Ping An Bank released 33 pieces of transfer information during the year to accelerate the disposal of bank non-performing assets. Experts expect the scale of industry disposal to reach a new phased high in 2024
① Since this year, the banking industry has been active in non-performing asset transfers. During the year, 23 banks issued about 80 non-performing asset transfer notices at Yindeng Center. ② Among them, Ping An Bank issued a total of 33 relevant non-performing loan transfer notices, involving a total amount of $12.158 billion in outstanding principal and interest. ③ Experts expect that the disposal of non-performing assets in the banking sector will accelerate in 2024, and the overall disposal scale will reach a new phased high.
Wanda Pin's shares are currently frozen, and Xinda Meng Commercial Management's 16.2 billion shares are about to be unfrozen
① Recently, Dalian Wanda Commercial Management Group's 16.205 billion shares of Dalian Xindameng Commercial Management Co., Ltd. and 50.72 shares of Zhuhai Wanda Commercial Management have all been frozen. ② At present, Wanda has reached a settlement with the bank over the dispute, and the frozen shares of Xinda Alliance's commercial management are expected to be unfrozen soon.
Everbright Trust's “first-in-command” has been renewed. Wang Gang, member of the Party Committee of Everbright Bank, plans to be the chairman. Executives of at least 7 trust companies have changed since the first quarter
① Everbright Trust recently underwent a “first-in-command” change. The official website shows that the information in the “Company Leaders” introduction section has changed. Wang Gang is the party committee secretary and chairman (proposed) of Everbright Trust. ② The “change of direction” in the trust industry is still frequent. Since 2024, at least 7 trust companies have changed the position of chairman or general manager.