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China Life Insurance Company Limited (CILJF) Q3 2024 Earnings Call Transcript Summary
Agricultural Bank of China Limited (ACGBY) Q3 2024 Earnings Call Transcript Summary
China Construction Bank Corporation (CICHY) Q3 2024 Earnings Call Transcript Summary
New China Life Insurance third-quarter report: weak premium growth, substantial net profit surge, sustainability of high investment income questioned by industry insiders.
1. In the first three quarters, new china life insurance achieved a net income attributable to the parent company of 20.68 billion yuan, a staggering increase of 116.7% year-on-year; 2. In the first three quarters, new china life insurance achieved an original premium income of 145.644 billion yuan, showing weak growth of 1.9% year-on-year; 3. In the first three quarters, the annualized comprehensive investment yield was 8.1%, up 5.1 percentage points year-on-year.
Multiple banks disclosed private banking data in the third quarter report, cm bank's number of customers grew by 1147 households, while ping an bank only increased by around a hundred households.
1. Ping An and CM Bank, two joint-stock banks, have detailed disclosures of 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. 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 on private banking clients in the third quarter, but the growth rate in the semi-annual report is considerable.
The interest spread continues to narrow, with china construction bank corporation's revenue declining by 3.3% in the first three quarters! The earnings conference reveals: the scale of early repayment has decreased, and the long-term trend still needs fur
In the first three quarters of this year, China Construction Bank Corporation achieved revenue of 569.022 billion yuan, a decrease of 3.30% compared to the same period last year; the net income attributable to owners was 255.776 billion yuan, a slight increase of 0.13% year-on-year. In the first three quarters, China Construction Bank Corporation's interest and fee income declined significantly, affected by factors such as exchange rates and capital market fluctuations, while other non-interest income increased significantly year-on-year.