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Bank stocks generally rise, Dongguan Rural Commercial Bank (09889) rises 4.9%. Institutions point out that industry pressure continues and performance remains resilient.
King Financial News | Banking stocks generally rose, Dongguan Rural Commercial Bank (09889) rose by 4.9%, Agricultural Bank of China (01288) rose by 2.65%, Minsheng Bank (01988) rose by 2.27%, CBHB (09668) rose by 2.15%, Bank of China (03988) rose by 2.13%. Open Source Securities stated that from the indicators of operation, listed banks generally face pressure on revenue growth. On one hand, insufficient effective demand delays the expansion of bank scale, the decline in asset-side yield exacerbates the pressure on interest margin narrowing, and both quantity and price are under pressure, with the continuous expansion of interest income decline; on the other hand, non-interest income contribution is limited, process...
Agricultural Bank of China Unveils Board Structure
Agricultural Bank of China (01288.HK): Ju Jiandong appointed as an independent non-executive director.
Agricultural Bank of China (01288.HK) announced on September 11th that the bank has recently received the Reply (No.JF [2024]593) from China National Financial Supervision and Administration Commission regarding the qualification of Ju Jiandong as an independent director of the Agricultural Bank. According to relevant regulations, Ju Jiandong will serve as an independent non-executive director of the bank starting from September 10, 2024. Huang Zhenzhong will no longer serve as an independent non-executive director due to the expiration of his term. He will also no longer serve as a member of the Board Nomination and Remuneration Committee, the Risk Management and Consumer Rights Protection Committee, the Chairman and member of the Regional Institutional Risk Committee in the United States, and the member of the Related Party Transaction Control Committee.
Open Source Securities: Pressure Continues, Bank Performance Remains Resilient Retail and Corporate Non-Performing Loan Trends Diverges
The net income growth rate of listed banks turned positive compared to Q1; although under the current economic situation, the cash flow of some companies is under pressure, the ability of corporate enterprises to resist systemic risks is still stronger than that of individuals.
Hong Kong stocks fluctuate | China mainland banking continues to decline recently, and the expectation of a decrease in the interest rate of existing house loans reemerges. Institutions state that the impact on banks' interest rate spreads is limited.
China mainland banking stocks continued to fall in the near term. As of the time of drafting, Agricultural Bank of China (01288) fell by 5.1%, closing at 3.35 Hong Kong dollars; Postal Savings Bank of China (01658) fell by 3.47%, closing at 3.9 Hong Kong dollars; Industrial and Commercial Bank of China (01398) fell by 2.62%, closing at 4.09 Hong Kong dollars; China Construction Bank Corporation (00939) fell by 2.22%, closing at 5.29 Hong Kong dollars.
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.
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