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The first nationwide bank responds to financial sanctions for telecommunications fraud crimes! China Everbright Bank: to be implemented from December.
①China Everbright Bank announced on its official website a few days ago that starting from December 1, 2024, financial disciplinary measures will be implemented on the settlement accounts of the sanctioned individuals; ②Fiscal Social reporters checked the official websites of the six major state-owned banks and other nationwide joint-stock banks, and as of the time of publication, currently no other banks have issued similar public statements.
China CITIC Bank Corporation is intensively listing personal non-performing loan projects. Retail asset risks are still in the release phase. The disposal of banks' non-performing assets is accelerating.
1. China Citic Bank Corporation recently listed a large number of non-performing loan projects, involving multiple branches in Peking, Shenzhen, etc., generally personal consumption and operation non-performing loans. 2. The current retail asset risk of banks is still in the stage of release, with continued pressure on improving asset quality indicators, requiring greater efforts in writing off bad debts and disposal measures.
Liu Yonghao once again trusts minsheng bank
Why add more investment?
Revenue growth pressure still exists in the next stage! The earnings conference of minsheng bank revealed that the crediting risks for small enterprises and retail are rising, with the adjustment amount for existing mortgage rates reaching approximately 3
In the first three quarters, minsheng bank's revenue and net income attributable to the parent decreased by 4.37% and 9.21% year-on-year, respectively. The management openly stated that the company's revenue growth will still face certain pressure in the next stage. Minsheng bank took the initiative to conduct centralized and unified batch adjustments to eligible existing home loans, with a total of approximately 0.5 million adjustments and an adjusted amount of approximately 380 billion yuan, already reduced by 37 basis points.
Liu Yonghao has taken action! Minsheng bank disclosed that the former largest shareholder intends to increase their shareholding to a total of over 5%, having previously made multiple shareholding reductions.
① Currently, Southern Hope Industry Co., Ltd. and New Hope Liuhe Investment Co., Ltd. together hold 4.96% of the total shares of this bank. ② As of the end of the third quarter, the core Tier 1 capital adequacy ratio, the Tier 1 capital adequacy ratio, and the capital adequacy ratio of Minsheng Bank have increased by 0.02, decreased by 0.19, and decreased by 0.48 percentage points respectively compared to the end of the previous year.
When will the revenue growth rate turn positive? The management of Shanghai Pudong Development Bank gave a clear response, stating that the company will continue to "go all out" in the fourth quarter.
Shanghai Pudong Development Bank President Xie Wei stated that excluding the one-time factor of selling the stake of Morgan Stanley Investment Management in the same period of the previous year, the operating income in the first three quarters increased by 1.265 billion yuan year-on-year, a growth of 0.98%. Subsequently, Shanghai Pudong Development Bank management also responded on how to strengthen risk management, stabilize interest spreads, and cope with exchange rate fluctuations.
Are bank stocks still worth buying? CITIC Financial Assets disclosed a 50.3 billion comprehensive investment plan, including a 30 billion shareholding in Bank of China and China Everbright Bank.
①CITIC Financial assets explicitly stated that it will allocate approximately 50.3 billion yuan for a bundled investment plan, of which 30 billion will be used directly to buy shares of Bank of China, China Everbright Bank, and other institutions. ②CITIC Financial assets and other institutional funds buying bank stocks are inevitable. As a large-scale institutional fund, due to various considerations such as risk control and capital return, it is highly probable that it will prioritize "high dividend stocks" rather than thematic stocks.
Shareholding of over 50 billion! Asset management giant can't help it anymore.
Source: China's largest financial asset management company, Citic Financial Asset Management Co., Ltd. (referred to as Citic Financial Asset Management, stock code $Citic Financial Assets (02799.HK)$), announced on the evening of November 8th that it will further promote the investment allocation plan. The total amount of the new investment plan is as high as 50.3 billion yuan, to increase shareholding in three listed companies! Citic Financial Asset Management stated that in recent years, the company has seized market opportunities and carried out a series of investment allocations, achieving positive results. In order to maximize shareholder interests, the company plans to further optimize the investment path based on the previous investments made.
Will the seven-year itch eventually lead to separation? Ping An Bank will stop issuing Chinese Super League themed credit cards, with multiple banks intensively clearing co-branded thematic credit cards within the year.
On November 8th, Ping An Bank announced on its official website that starting from January 1, 2025 (inclusive), it will stop selling the themed credit card products under the Super League series issued by Ping An Bank. The above themed co-branded credit cards have a seven-year history of issuance. Within the year, several large commercial banks including Agricultural Bank of China, bank of communications, cm bank, and China CITIC Bank Corporation have announced the suspension of issuing some co-branded credit cards.
"Idle period" a month later, banks issued a dense perpetual bond: Minsheng Bank opened the issuance prelude of the fourth quarter, followed by China Merchants Bank, Ping An, and Bank of Suzhou in November.
①From the perspective of the issuer type, the issuance of perpetual bonds by banks shows a relatively larger number of issuances by small and medium-sized banks, with relatively larger issuance sizes by state-owned large banks and joint-stock banks; ②Issuing perpetual bonds can effectively supplement the banks' other Tier 1 capital, enhance capital adequacy ratio, which can both meet regulatory requirements and strengthen risk resilience.
Several banks disclosed private banking data in the third quarter report, with CM Bank's customer base growing by 1147 households, while Ping An Bank only increased by around a hundred households.
①Ping An and cm bank, two joint-stock banks, have detailed disclosed the latest data, but the former's private banking clients only increased by about a hundred in the third quarter, less than one-tenth of cm bank's. While minsheng bank only disclosed the balance of private banking assets, without disclosing the number of clients. ② The five major banks have not updated the data of private banking clients in the third quarter report, but the growth in the semi-annual report is considerable.
After 7 months, the former general manager of Peking reits, Qu Gang, has been approved to serve as the president of Hua Xia Bank, with a high turnover of senior executives in financial institutions belonging to Beijing this year.
On the evening of October 29, Hua Xia Bank announced that the regulatory authority has approved the appointment of Qu Gang as the director and president of the bank. Qu Gang's term as executive director and president of Hua Xia Bank will take effect from the approval date of October 28, 2024; Starting from the beginning of 2024, senior executives of financial institutions in Peking have undergone a series of changes, involving Beijing Rural Commercial Bank, Hua Xia Bank, Beijing International Reits, and Bank of Beijing.
The 'Retail King' third quarter report was released, with cm bank's revenue and net profit slightly decreased in the first three quarters due to a narrowing interest margin, and total assets are approaching 12 trillion.
1. The decline in return on interest-earning assets is the main factor contributing to the decrease in net interest margin; 2. The non-performing loan ratio of China Merchants Bank is 0.94%, a decrease of 0.01 percentage points from the end of the previous year; 3. The weighted average mortgage ratio for individual housing loans is 36.29%, an increase of 3.36 percentage points from the end of the previous year.
Did the rise in gold prices attract banks to develop new businesses? Ping an bank announced the addition of new fee items three months in advance, while ABC bank previously resumed physical gold rsp.
① Ping An Bank announced a notice a few days ago that, in order to further promote business development, they will introduce new related charges for the premium gold business, scheduled to take effect on January 25th next year. ② This year, the international gold price has surpassed the $2700 per ounce mark, breaking the historical records of the gold price over 20 times. In addition to Ping An Bank, other state-owned banks have recently restarted gold-related investment businesses.
The third quarter reports of five listed banks have been released: performance shows slight differentiation, significant decrease in provision level. The decline in interest spreads continues to drag down banks' revenue.
①Currently, the five listed banks that have disclosed their third-quarter reports this year have seen a continuous expansion in their asset size in the first three quarters, with most of them experiencing some growth in performance, although there is some differentiation in specific performance. ②The five banks have basically maintained a stable non-performing loan ratio in the first three quarters, but their provision coverage ratios have all experienced varying degrees of decline.
Share buyback and shareholding loan continue to land! Multiple banks such as Ping An and Industrial Bank announce new progress. Experts remind banks to strengthen evaluation and investigation of target companies.
Recently, state-owned major banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, as well as commercial banks like China Merchants Bank, Ping An Bank, Bank of Communications, and others have swiftly implemented the share buyback and shareholding loan business, successively announcing the latest relevant progress. Experts believe that this business serves as a new growth point for banks, but banks need to enhance their risk management capabilities during the process of carrying out this business, conducting comprehensive evaluations and inspections on the operational stability, and financial condition of the target companies.
Is there 'Golden Eleven' after 'Golden September'? Ping An Bank followed up by raising the minimum purchase amount of accumulation gold to 700 yuan. After the international gold price broke through $2750, the market remains bullish.
On October 23, Ping An Bank announced that starting from October 28, the minimum initial investment amount for the Ping An Gold Accumulation business based on the amount will be increased from 600 yuan to 700 yuan. In September, the international gold price reached a new historical high consecutively. In response to this, the second round of collective increase in gold accumulation initiated by domestic banks has also started. Currently, institutions generally remain bullish on gold.
Nine joint-stock banks have followed suit today, with seven banks including Everbright and Guangfa announcing a reduction in the deposit benchmark interest rates, with the highest fixed deposit rate cut by 25 basis points.
①The current banks have started a new round of deposit rate cuts, which is of great significance in maintaining interest margins, thereby ensuring the stable operation of commercial banks and increasing the support for financing the real economy continuously. ②This round of bank deposit rate cuts is expected to basically offset the impact of various loan rate cuts on net interest margins.
Share buyback and shareholding loans are quickly implemented! Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Merchants Bank, Citic Bank, and other banks have announced progress. Some banks have cooperation intention
①As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, explicitly committing loans to 32 listed companies, covering industries such as integrated circuits, transportation, high-end manufacturing, and business services; ②The bank stated that it will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of the stock increase stake & buy back and reloan policy from illegally flowing into the stock market.
"Repurchase, shareholding, and re-lending" is quickly implemented! The scale has exceeded 10 billion yuan, with central enterprises leading the trend.
①Yesterday, the first batch of 23 listed companies have disclosed information on shareholding, repurchasing, and additional financing, with the total amount involved exceeding one billion yuan; ②Among central state-owned enterprises, two major shipping giants, China Merchants Group and cosco shp sg, have multiple companies involved, while private enterprises are represented by industries such as aquaculture, photovoltaics, and semiconductors; ③Market participants believe that the new policy on additional financing has received enthusiastic responses, which will help further activate the market and bring more liquidity.