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Sunong Bank officially announced that 1 billion second-tier capital bonds were sold out. The bank issued more than 400 billion second-tier capital bonds during the year, and 9 banks including ICBC received new approvals
① On the evening of May 27, Sunong Bank announced that it had recently successfully issued 1 billion yuan of second-tier capital bonds. The funds raised will be used to enrich the company's second-tier capital and increase the capital adequacy ratio. ② As of May 20, the total amount of secondary capital bonds issued by commercial banks this year reached 445.75 billion yuan. ③ According to the website of the State Financial Supervisory Administration, at least 9 commercial banks obtained approval to issue second-tier capital bonds during the year.
Sunong Bank's annual dividend plan was opposed by 11.26% of minority shareholders, but the total amount reached a record high, but the dividend rate was the second lowest. Industry: A balance of interests of various parties should be considered
① Sunong Bank's “2023 Profit Distribution Plan” was approved by 95.3565%, with more than 17.97 million negative votes, accounting for 4.6435%. ② Shareholders' different investment values exist objectively and should be viewed and tolerated from multiple perspectives. ③ Judging from regulatory attitudes and market trends, it is still recommended that banks have stable expectations of multiple dividends and investors invest in a stable stock price over a long period of time.
Taking over the shares of the former top 500 private enterprises, Keqiao Transformation and Upgrading Company will become the second largest shareholder of Shaoxing Bank and the largest shareholder of Ruifeng Bank at the beginning of the year
① The Shaoxing Bank shareholder qualification of Keqiao Transformation and Upgrading Company was approved, and the supervisory authority agreed to transfer a total of 9.12% of the shares of Jinggong Group and Shaoxing Zhongfu. ② The transferred shares indicate that all of them have been pledged. A relevant person from the board of directors of Shaoxing Bank said that the transfer will greatly ease shareholders' equity pledge issues. ③ The actual controller of Keqiao Transformation and Upgrading Company is the Keqiao District Finance Bureau. It just completed the transfer in February this year to become the largest shareholder of Ruifeng Bank.
Plus size! Chongqing Water Investment Group plans to increase its holdings in Chongqing Agricultural Commercial Bank to 5%, and 13 banks will receive an increase in their holdings by important shareholders within the year
① Industry insiders believe that the valuation pricing of banks in the financial sector is extremely suppressed by long-term factors. In particular, banks with the best historical fundamentals in the sector have both lower valuations than absolute positions. ② Bank stocks are stable and defensive, and also have high dividends and investment attributes of state-owned financial institutions. The industry is optimistic about the allocation value of fixed income attributes in the banking sector.
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.
Is this the third time this year that the majority shareholders of a listed bank have collected shares? Shareholders of Zijin Bank's state-owned enterprises were approved to transfer shares held by a subsidiary of a brother company
① On April 13, Zijin Bank issued an announcement stating that the supervisory authorities have agreed that Jiangsu Soho Investment Group Co., Ltd. will transfer shares held by Jiangsu Huihong International Group Zhongjin Holdings Co., Ltd. and Jiangsu Huihong International Group Zhongding Holdings Co., Ltd. ② Since the beginning of the year, two listed banks, including Bank of Changsha and Industrial Bank, have transferred shares between shareholders of state-owned enterprises. The reason behind this is that the majority shareholders have collected shares.
How to deal with the decline in capital adequacy ratio? Will the lifting of the ban impact stock prices? How is net interest spread managed? Ruifeng Bank responds to market concerns one by one
① Rui Fung Bank Governor Chen Gangliang said that it will develop a non-interest income business and enhance endogenous capital replenishment capabilities. ② Net interest spreads have been declining for three consecutive years. Chairman Wu Zhihui said that it is expected that the problem of continuing to decline in net interest spreads in 2024 will be mitigated. ③ Investors are concerned about the pressure to lift the ban on a large scale in June. Wu Zhihui said back that the relevant shareholders are willing to maintain a long-term and stable investment relationship with the bank.
Jiushi Group increased its holdings of Shanghai Agricultural Commercial Bank by 6.4 million shares. The three major shareholders' promises to stabilize shares have recently been fulfilled. In the beginning of the year, many banks passively stabilized and
① On the evening of February 7, the Shanghai Rural Commercial Bank issued an announcement on the progress of implementation of measures to stabilize stock prices. At present, the cumulative increase in holdings of Jiushi Group and Zhejiang Shanghai-Hangzhou-Ningbo is close to the lower limit of previous promises, and Guosheng Asset has already reached the previous promise; ② Since the beginning of the year, several listed banks have released information on stabilizing stock prices and increasing shareholders' holdings, including Qilu Bank, Shanghai Agricultural Commercial Bank, Changshu Bank, Jiangyin Bank, etc.
Can the strategy of institutions such as the Shanghai Agricultural Commercial Bank, Qilu Bank, and the Bank of Wuxi successively increase their holdings of bank shares to generate excess dividends?
① Under volatile market conditions, industries related to high dividends continue to be favored by capital due to stable cash flow and dividend advantages. Some agencies pointed out that the banking sector is expected to further generate significant excess profits. ② Recently, a number of banks announced measures to stabilize stock prices. Previously, bank stock prices quickly broke down after listing, passively triggering stock price stabilization measures.
After the listing, Great Wall Life continued to convert shares to increase its holdings, and Great Wall Life became the third largest shareholder of the Bank of Wuxi. Industry: Premium equity swaps are aimed at supplementing capital
① Unlike previous cases where it repeatedly increased its holdings through centralized bidding transactions in the secondary market, this time Great Wall Life increased its holdings through a premium conversion of convertible bonds. ② Industry insiders believe that increasing the holdings of convertible bonds and converting shares through targeted negotiations with shareholders can supplement bank capital and ease capital pressure on small and medium-sized banks. ③ Due to this equity change, Great Wall Life was promoted to the third largest shareholder of Bank of Wuxi.
Jiangnan Water's premium “rescue site” became the largest shareholder of Jiangyin Bank
① Jiangnan Water has become the largest shareholder of Jiangyin Bank through convertible debt-to-equity swaps; ② “Jiangyin Water” is about to face the maturity of the debt conversion period, and the share conversion rate is too low. Payment of maturing principal and interest will put financial pressure on Jiangyin Bank, but Jiangnan Water will not hesitate to “premium” for a short period of time and become a major shareholder of Jiangyin Bank to support Jiangyin Bank; ③ Jiangnan Water said that it will complement resources and create synergy effects with Jiangyin Bank.
Are “high dividends” leading to a move to increase holdings? The directors and supervisors of Changshu Bank took action again after a lapse of nearly three years. The banking sector has been very lively since the beginning of the year
① On the afternoon of January 12, Changshu Bank issued an announcement stating that some of the bank's directors and supervisors increased their total holdings of 692,200 shares from January 8 to 12 this year, with a total increase of 4.446 million yuan. ② Since the beginning of the year, the overall performance of bank stocks has been good, and many banks have begun to increase their holdings one after another. In addition to Jiangyin Bank's plan to increase executive holdings, Great Wall Life has just listed the Bank of Wuxi.
After 8 years, insurance capital was once again listed as an A-share bank. Great Wall Life increased its holdings of the Bank of Wuxi to 5%. It has been listed three times in less than a year
① Bank of Wuxi announced that the current shareholding ratio of Great Wall Life Insurance has reached 5.00%. In accordance with relevant regulations, the licensing requirements have been met. ② In less than a year, Great Wall Life has listed 3 A-share companies. It also listed the Central Plains Expressway and Zhejiang Communications Technology in June of last year. ③ The listing of Bank of Wuxi this time is an A-share bank again after a lapse of 8 years.
Shareholder qualifications have certainly been approved. Jiangnan Water's “top” Jiangyin Bank's largest shareholder only owes Dongfeng, and the Everbright debt conversion model is expected to be repeated
① On the afternoon of January 11, Jiangyin Bank announced that it received regulatory approval, approved Jiangnan Water's shareholder status, and agreed to increase its holdings of Jiangyin Bank shares within six months from the date of approval, and hold 5% to 10% (excluding capital) of shares after the increase in holdings was completed. ② As of the close of trading on January 11, Jiangyin's debt-for-share premium rate was 14.89%, and the conversion price was 3.96 yuan/share, higher than the closing price of 3.65 yuan/share.
Jiangyin Bank launched the first A-share plan for bank executives this year and played a “new trick”: it is possible to increase its holdings through convertible bonds
① Some directors, supervisors and core personnel of Jiangyin Bank plan to increase their total holdings by no less than 10 million yuan and no more than 20 million yuan over the next six months. ② If all of the bank's convertible bonds are purchased according to the upper limit of 20 million yuan of this increase in holdings, it can also have the effect of supplementing the core Tier 1 capital after the share transfer. ③ It has been 4 years since the last time it introduced a plan to increase the holdings of directors and supervisors. This time, Jiangyin Bank has increased restrictions on the holdings increase plan.
Bank stocks are off to a “good start”! The Agricultural Bank just hit a new high yesterday. The stock bank, Chengcheng Agricultural Commercial Bank relayed today, and Ruifeng Bank even went up and down. What is the reason?
① Bank stocks rose in volume at the beginning of the year. Stock banks and Chengnong Commercial Bank led the industry today, and Rui Fung Bank hit ups and downs several times during the intraday period. ② Research institutes have analyzed that high dividend rates highlight absolute profit margins, and improved cost expectations are important reasons for the recent rise in bank stocks.
Listed agricultural and commercial banks such as Changshu Bank and Sunong Bank followed up and adjusted the fixed deposit listed interest rate reduction period and the deposit difference fell by as much as 25BP
① Banks reduce deposit listing interest rates with the aim of reducing bank debt costs, stabilizing bank interest spreads, and reducing interest rates on long-term deposits more. The adjustment time and extent of different banks will also vary according to their own circumstances and with reference to similar banks. ② It is expected that the concept of “round” or “batch” in deposit interest rate adjustments will gradually fade.
Will A Shares be a licensed insurance bank after a lapse of 8 years? Great Wall Life has been approved by the regulation as a shareholder of the Bank of Wuxi, and its shareholding of 5% is only one step away
① The Bank of Wuxi disclosed that the supervisory authority has approved Great Wall Life's shareholder status and agreed that Great Wall Life will increase its stock holdings within six months from the date of approval. ② Great Wall Life currently holds 4.54% of the shares in the Bank of Wuxi. Combined with the disclosure of this announcement, a subsequent listing will be a probable event. ③ It is rare for A-share banks to be listed by insurance capital. The last time was People's Insurance Insurance listed Huaxia Bank. If Great Wall Life is listed, it will be the first A-share case in 8 years.
Ruifeng Bank completed another round of stock stabilization measures, and stock prices fell by nearly 12% Experts: Subsequent bank valuation repairs are optimistic
① Ruifeng Bank announced the completion of another round of stock price stabilization measures, but after the implementation of the stock stabilization measures, the stock price fell nearly 12% from before; ② Since this year, 6 banks, including Ruifeng Bank, have successively completed the implementation of relevant measures, but none of the results in boosting stock prices have been ideal; ③ Experts believe that in the future, as macroeconomic expectations improve, subsequent banking sector valuation repairs are optimistic.
A quasi-post-90s debut! Yu Gan of Jiangyin Bank will become the youngest deputy governor of the A-share listed bank, and Changshu Bank has just elected a post-80s governor
① Yu Gan was born in 1989 and only joined the workforce in 2011. Previously, among A-share listed banks, the youngest deputy governor was Lu Dingchang, the deputy governor of Changshu Bank. He was born in 1986. ② Currently, among A-share listed banks, the post-60s and post-70s are still the main candidates for bank governors and deputy governors. ③ Listed urban commercial banks and agricultural commercial banks show the characteristics of younger senior management, and this trend is even more obvious in the Jiangsu, Zhejiang, and Shanghai regions.