00939 CCB
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CCB News
A-share midday review: The Shanghai Composite Index and the Shenzhen Component Index hit a new low in the correction, with the banking sector picking up and high-level stocks continuing to decline.
The major indexes of A-shares continued to adjust this morning, with both the Shanghai Composite Index and the Shenzhen Component Index hitting new lows in the adjustment. Internet e-commerce concept stocks rose against the market trend, while banks sector rebounded and high-priced stocks continued to decline.
Deutsche Bank: The pricing of loans in the banking industry in China is becoming more rational, so there is no need to overly worry about net interest margin pressure.
Morgan Stanley pointed out that although the LPR reduction may put pressure on the interest income of the banking industry in China, at the same time, the interest cost paid by banks to depositors is also decreasing, which helps to alleviate the pressure on net interest margin. Morgan Stanley expects that the banking industry will outperform the large cap market in the next 12 months.
China Construction Bank Corporation Shanghai Branch Zhou Jie: Integrated operation of commercial investment banking, all-round service for the development of science and technology innovation | Direct hit on the 2024 Pujiang Forum.
①At the 2024 Pujiang Innovation Forum, a series of specialized forums were held around the topic of technology finance. ②ICBC Shanghai Branch has already established a complete financial solution from 0 to 100 for technology finance services, which can provide services for the entire growth cycle of scientific and technological innovation enterprises.
Hong Kong stocks fluctuate | China mainland banking stocks fall again, CM Bank (03968) drops more than 5%, with expectations of a rate cut for existing home loans heating up.
China mainland banking stocks fell again. As of the time of writing, CM Bank (03968) fell 5.28%, to HKD 28.7; Bank of Communications (03328) fell 2.06%, to HKD 5.24; China Construction Bank Corporation (00939) fell 1.31%, to HKD 5.29.
Amount involved exceeds 2.8 billion! China Construction Bank Corporation issued 35 notices of non-performing loan transfers in the first week of September. Industry experts believe that the pressure on risk exposure in the bank's retail sector has intensi
In the first week of September, China Construction Bank Corporation released 35 pieces of information on the transfer of non-performing loans in the Silver Registration Center, involving a total unpaid principal and interest of 2.818 billion yuan, of which 34 were personal consumer or operation non-performing loan transfer projects. In the industry's view, the overall risk pressure on the retail end of the entire industry is relatively high, and the industry will continue to maintain a high level of disposal of non-performing assets in the second half of the year.
Is it urgent enough to reduce the interest rate on existing housing loans? In the first half of the year, the non-performing balance of personal loans in the six major state-owned banks has reached 352 billion yuan, and the non-performing rate has general
In the first half of this year, the total amount of non-performing loans of the six major state-owned banks has reached 352.091 billion yuan, exceeding the 300 billion yuan threshold for the first time. Compared with the data from early 2024 (291.371 billion yuan), it can be calculated that in the first half of the year, the six major state-owned banks added approximately 60.7 billion yuan of non-performing loans. Industry insiders believe that in the current environment, it is not advisable to excessively rely on reducing existing housing loans to play a greater role in promoting consumer spending.
China Greatwall Technology Group, Units Seek Credit Line Adjustments
At least 10 senior executives of listed banks are optimistic. Has the net interest margin really bottomed out? Fitch raised objections: LPR may be further reduced.
In the second quarter of 2024, the net interest margin of commercial banks was 1.54%, showing signs of stopping the decline for the first time. Recently, several listed banks' executives have also publicly stated that there are signs of stabilization or a slowdown in the decline of the net interest margin, injecting a strong boost into the market. Huayu Ratings recently stated, "It is too early to determine whether the net interest margin has bottomed out. The government may further lower the LPR to reduce loan costs.
Many major bank apps have launched the "Existing Home Loan Interest Rate Adjustment" function? In fact, it was introduced last year, and on the eve of the traditional busy season for property sales, the 37.8 trillion silver stock housing loans have once a
①The application port for the adjustment of the existing house loan interest rate was set for the unified adjustment of the existing house loan interest rate last year, not the latest launch. ②Refer to the reduction of existing house loan interest rates in August-September last year, and there is also a possibility of reducing existing house loan interest rates in the future. ③Based on the scale of existing house loans in the second quarter of 2024, which reaches 37.8 trillion yuan, the maximum amount of house loan interest that the residential sector needs to repay each year may be reduced by about 300 billion yuan.
China Construction Bank Maintains Buffers Amid Profitability Pressure, S&P Says
Beishui trend | Beishui's net sellout of 3.703 billion petroleum shares and mainland banking shares are both experiencing differentiation. Domestic capital is selling more than 3.7 billion tracker funds of Hong Kong (02800).
On September 4th, in the Hong Kong stock market, the net selling volume of northbound funds was 3.703 billion Hong Kong dollars, among which the net selling volume of Shanghai-Hong Kong Stock Connect was 1.581 billion Hong Kong dollars, and the net selling volume of Shenzhen-Hong Kong Stock Connect was 2.122 billion Hong Kong dollars.
China Banks' Retail Loan Books Likely to Remain Under Pressure -- Market Talk
Guosen Securities: The potential bearishness in the banking sector has significantly decreased, and next year is expected to bring a turning point in performance.
The current valuation of the banking sector is at a low level, after experiencing real estate risk exposure and adjustments to existing home loan interest rates, the potential bearishness of the sector has significantly reduced, with lower downside valuation risk.
Minsheng Securities: The overall revenue of the banking sector is still under pressure, while the growth rate of net income attributable to shareholders has returned to normal. The pressure on asset quality may be relieved.
Against the background of the gradual exposure and clearance of real estate risks, concerns about the significant fluctuations in the quality of bank assets have eased, and the valuation of the banking sector is expected to further improve.
The number of private banking clients in the five major state-owned banks continues to grow rapidly, with more than one million reaching 1.055 million households at the end of June, equivalent to the annual increase in the first half of last year.
① The number of private banking clients of the five state-owned banks reached a historic record at the end of June this year - breaking the one million mark for the first time, with a total of 1.055 million clients. ② In the first half of this year, the private banking clients of the five major banks increased by nearly 0.1 million, approaching the total data for the previous year. ③ The semi-annual report found that each bank has identified private banking business as one of the key development directions.
Beishui Trend| Beishui's net buy of 2.619 billion, Beishui pursues china mainland banking, adding nearly 0.4 billion Hong Kong dollars to Industrial and Commercial Bank of China (00939).
On September 3, in the Hong Kong stock market, the net purchase of northbound funds was 2.619 billion Hong Kong dollars, of which the Shanghai-Hong Kong Stock Connect net purchase was 1.502 billion Hong Kong dollars, and the Shenzhen-Hong Kong Stock Connect net purchase was 1.117 billion Hong Kong dollars.
The six major state-owned banks led the decline, and the expectation of a rate cut for existing home loans dealt a heavy blow to the banking sector. As the window period for housing policies in September approaches, how should we balance the 200 billion y
①As of the closing, 40 out of 42 listed bank stocks fell. The banking sector led the decline in all sectors, with the six state-owned banks leading the decline in the banking sector; ②Several interviewees told reporters that the decline in bank stocks today is partly due to the increasing expectations of rate cuts for existing home loans in the market; ③Estimates by China International Capital Corporation show that assuming the average mortgage interest rate is reduced by about 60bp, it is estimated to reduce borrowers' interest expenses by approximately 240 billion yuan per year.
Illustration | Funds heading south increased their positions in China Construction Bank, Meituan, and Tencent.
Southbound funds today net bought HKD 2.619 billion shares. Among them: net buying of China Construction Bank Corporation 0.387 billion, Meituan 0.376 billion, Tencent 0.302 billion, CNOOC 0.11 billion, Xiaomi Corporation 0.105 billion; net selling of Kuaishou 0.197 billion, Ping An Insurance 0.101 billion.
During the first half of the year, while 1,126 bank branches closed, the number of branches for the six major state-owned banks increased slightly by 700, with Agricultural Bank of China alone adding over 800.
According to the data from the semi-annual reports of listed banks, the number of branches of the six state-owned banks is approximately 1.056 million, which has increased by about 700 branches compared to the beginning of the year. According to the data from the official website of the China Banking and Insurance Regulatory Commission, about 1,126 subordinate branches of commercial banks announced closure and cessation of business in the first half of this year, which means that although the state-owned banks are expanding against the trend, the steady contraction of bank branches is still the mainstream.
Market Chatter: CCB Forecasts Slower Decline in NIM in 2024
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