News from October 30th,$China Mainland Banking (BK1239.HK)$It fell collectively. As of press time,$PSBC (01658.HK)$Decreased by 6.84% to HK$3.54;$BANKCOMM (03328.HK)$Decreased 4.77% to HK$4.59;$CM BANK (03968.HK)$Decreased 4.29% to HK$30.15;$ICBC (01398.HK)$Decreased by 2.86% to HK$3.74;$CCB (00939.HK)$It fell 2.19% to HK$4.46.
According to news, recently, several major banks released their three-quarter reports. China Merchants Bank's net profit for the first three quarters was 113.89 billion yuan, up 6.52% year on year; Postbank's net profit for the first three quarters was 75.766 billion yuan, up 2.48% year on year; Bank of Communications net profit of 69.166 billion yuan in the first three quarters increased 1.88% year on year; and Agricultural Bank's net profit of 207.356 billion yuan in the first three quarters increased 4.97% year on year. Dongguan Securities pointed out that in the first three quarters of this year, a total of 24 banks had positive year-on-year increases in net profit. Compared with the second quarter, due to a further contraction in net interest spreads, the net profit growth rate of 20 banks declined to varying degrees year-on-year.
CITIC Securities said that in August-September, the banking sector followed the market's performance and was quite volatile, but with relatively good returns, the sector's defensive value was highlighted, and the share of bank stocks in active fund heavy holdings picked up slightly from the end of the second quarter. Looking ahead, the bank expects that the policy environment will warm up, economic momentum will accumulate, and sector uncertainty will decline, all of which will help improve industry valuations.