00998 CITIC BANK
- 4.510
- -0.060-1.31%
CITIC BANK News
Banks' stocks are experiencing a "rare" big drop, JPMorgan: There is no reason for it!
JPMorgan believes that the trend of funds flowing into high-yielding stocks will continue, and the performance of bank stocks is not significantly below expectations. The performance growth rate of JPMorgan, Bank of Communications, Ningbo Bank, and China Citic Bank in the first half of 2024 and expected earnings for the fiscal year 2024 are still on track, so there is no need to overly worry about banks reducing dividends due to capital pressure.
The effect of interest rate cuts on deposits is gradually becoming apparent, with interest expenses of many national banks decreasing in the first half of the year, and some banks reducing by more than 7%.
① According to the semi-annual reports of joint stock banks and state-owned banks, although the trend of deposit regularization is obvious, and coupled with the expansion of deposit scale, the cost of debt has actually been reduced for many banks. ② Recent earnings conferences have shown that executives of various banks have expressed the need to adjust the asset-liability structure, strengthen cost control of liabilities, and attract low-cost deposits. This will be the focus and deployment direction for commercial banks in the second half of the year.
Hong Kong stocks closed (08.29) | Hang Seng Index rose 0.53%, mainland banking stocks fell collectively, Meituan-W (03690) soared 12% after earnings.
Hong Kong stocks opened lower in the morning and then fell, with the Hang Seng Index falling by more than 2% at one point. In the afternoon, the index bottomed out and rebounded, all turning positive.
Bank of America Securities: Reaffirms the 'buy' rating on China Citic Bank Corporation (00998) with the target price lowered to 5.4 Hong Kong dollars.
Bank of America Securities has lowered its earnings forecast for China Citic Bank (00998) by 9% to 14% for the years from this year to 2026.
Why did the net profit decrease slightly in the first half of the year? How is the performance in the second half of the year? What is the trend of real estate asset quality? China Citic Bank management responds.
Regarding the operating situation in the first half of the year, Liu Cheng summarized it in three words: "balance," "stability," and "continuity," and predicts that the overall operation will continue to maintain a stable and positive trend for the whole year. In addition, he has confidence in the improving asset quality of China CITIC Bank in the second half of the year.
Caught up with the CITIC Securities briefing, and a special plan has been developed to respond to the fee reduction of public funds.
Zhang Youjun mentioned the mid-term dividend optimistically.
China CITIC Bank's 1H Profit Weighed by Lower Net Interest Income
China CITIC Bank H1 Profit Slides 2%, Operating Income Up 3%
Summary of the 2024 Semi-Annual Report of China CITIC Bank Co., Ltd.
China CITIC Bank Co., Ltd. 2024 Semi-Annual Report
China Citic Bank Corporation plans to distribute nearly 10 billion yuan in dividends in the middle of the year, with a significant increase in investment income in the first half of the year leading to a rise in non-interest net income. Agent business fee
In the first half of the year, China Citic Bank Corporation achieved revenue of 109.019 billion yuan, a year-on-year increase of 2.68%; net income attributable to shareholders was 35.49 billion yuan, a slight year-on-year decrease of 1.60%. On the one hand, it adjusted and optimized the deposit structure, vigorously developed settlement deposits, and steadily reduced the cost of deposits; on the other hand, it adjusted the asset structure, increased the proportion of loans, and took multiple measures to stabilize the interest rate spread at a reasonable level.
[Hong Kong Stock Connect] China Citic Bank Corporation (00998) net income for the first half of the year decreased by 1.6% year-on-year, and plans to distribute an interim dividend of 1.847 RMB per 10 shares.
Jingu Finance News | china citic bank corporation (00998) announced its interim performance for the six months ended June 30, 2024. During the period, the net income attributable to the shareholders of the bank was 35.49 billion yuan (RMB, the same below), a decrease of 1.6% year-on-year; basic earnings per share was 0.66 yuan, a decrease of 5.71% year-on-year. It is proposed to distribute an interim dividend of 1.847 yuan for every 10 shares. During the period, the group's operating income was 108.64 billion yuan, an increase of 2.6% year-on-year. Among which, net interest income was 72.608 billion yuan, a decrease of 0.82% year-on-year, while non-interest net income was 36.032 billion yuan, an increase of 10.2% year-on-year.
China Citic Bank Corporation (00998) will distribute a mid-term dividend of 1.847 yuan for every 10 shares on January 15, 2025.
China Citic Bank Corporation (00998) announced that it will distribute dividends on January 15, 2025, for the period ending June 30, 2024...
China Citic Bank Corporation (00998) has appointed Zhang Yuefen as joint company secretary.
China Citic Bank Corporation (00998) announced that Gan Meixia has resigned as (i) Joint Company Secretary and (ii) Hong Kong...
China CITIC Bank Corporation (00998) announced its interim performance with a net income attributable to equity holders of RMB 35.49 billion, a year-on-year decrease of 1.6%. The asset quality remains stable.
China CITIC Bank Corporation (00998) released its six-month performance report for the period ending June 30, 2024, with stable operational performance...
Express News | China CITIC Bank - as at Hy End, Npl Ratio 1.19%
Express News | China CITIC Bank - Proposes to Pay Cash Dividends of RMB1.847 per 10 Shares
Express News | China CITIC Bank Corp H1 Net Interest Margin 1.77%
Express News | China CITIC Bank Corp H1 Operating Income RMB 108,640 Million
Express News | China CITIC Bank Corp H1 Net Interest Income RMB 72,608 Million
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