Bank of Communications Announces 2024 Interim Dividend
Bank of Communications (03328) will distribute a mid-term dividend of 0.182 yuan per share on February 14, 2025.
Bank of Communications (03328) announced that the company will distribute a mid-term dividend of 0 per share on February 14, 2025...
Bank of Communications Plans Key Votes at Upcoming Meeting
There are still "2" denominations! Many local banks are intensively issuing large-denomination certificates of deposit at the end of the year, and state-owned big banks and listed banks are also "mixed in".
① Especially since late November, about 20 local banks across the country have intensively announced the launch of large-denomination certificates of deposit. Furthermore, some annualized interest rates are still above 2%. ② Recently, some state-owned major banks have also been "quietly" promoting their own large-denomination certificate of deposit products, and listed banks are also introducing related products.
China's Systemically Important Banks Poised to Meet Capital Requirements, Fitch Says
In many areas of fujian, mortgage rates have been adjusted to 3.1%. Experts say that ultra-low rates are unsustainable and banks are correcting their "involution-style" competition.
①In multiple cities in Fujian Province including Xiamen, Fuzhou, Putian, etc., the housing loan interest rate has been uniformly raised from 3.05% to 3.1%. ②The unclear lower limit of interest rates has caused internal price competition among banks, this adjustment is a correction to excessively low interest rates and does not mean policy tightening.
Zhongtai: The senior law significantly saves bank capital, and under the improved market preference, attention is paid to the performance of quality banks.
Zhongtai stated that the regulatory authorities have relaxed the acceptance of advanced capital method applications. Based on the case of China Merchants Bank, the advanced method significantly saves capital, with a core Tier 1 capital adequacy ratio about 2 percentage points higher than the weighted method. If the top tier listed banks subsequently implement the advanced method, it is expected to increase the core Tier 1 capital adequacy ratio of the top tier listed banks by more than 1 percentage point.
The no-card deposit and withdrawal business continues to tighten, with about 20 banks officially announcing adjustments to the business, leading to diffusion among small and medium banks since November.
① Since November, about 20 banks have announced restrictions on cardless deposit and withdrawal services. Throughout the year, at least 50 various banks, including state-owned banks, joint-stock banks, and small to medium-sized banks have successively announced tightened cardless services. ② From the announcements released by each bank, their reasons for adjusting cardless services are basically consistent—risk control.
Bank of Communications Sells 30 Billion Yuan in Four-Year Bonds
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Bank of Communications (03328.HK) issues 30 billion yuan first phase total loss absorption capacity non-capital bonds.
On November 27, Gelonghui reported that the bank of communications (03328.HK) announced that, with the approval of the National Financial Regulatory Administration and the People's Bank of China, it recently issued the 'Bank of Communications Co., Ltd. 2024 First Phase Total Loss Absorption Non-Capital Bonds (Bond Connect)' in the national interbank bond market, which was completed on November 27, 2024. The issuance scale of this bond is 30 billion yuan, for a 4-year fixed-rate bond with a coupon rate of 2.11%, and it includes a conditional early redemption option at the end of the third year. The raised funds from this bond, after deducting issuance costs, will be used in accordance with applicable laws and regulations.
In November, the MLF volume continued to shrink. Previously, the 500 billion buy-back reverse repurchase has released medium-term liquidity ahead of schedule. The industry expects the reserve requirement ratio cut to be implemented faster.
①The funding operation mode of shortening and lengthening funds continues. On the one hand, the central bank continues to reduce the MLF operations volume, reduce the existing stock to mitigate its impact on the liquidity market. On the other hand, short-term funds continue to be net injected to hedge against cross-month fund pressure, strengthening the guiding position of reverse repurchase agreements on market interest rates. ②Local government bonds are centrally supplied, and the MLF is likely to see a quicker implementation under the reduced volume environment.
Rare! This rural commercial bank is offering a 5-year fixed deposit interest rate of 1.5%, which is lower than the 1.55% level of state-owned banks. It is referred to as a "case" in the industry.
①Recently, Wuxiang Rural Commercial Bank adjusted the deposit execution interest rates, lowering the execution interest rates for personal fixed-term deposits of two years, three years, and five years to 1.5%, with the five-year execution interest rate being lowered below the lowest level of the state-owned banks' published rates. ②The phenomenon of the aforementioned rural commercial bank reducing rates beyond the mid- to long-term levels of state-owned banks is still considered an isolated case.
Banks' dormant account cleanup is gradually extending to corporate accounts. This rural commercial bank announced that it will clean up long-suspended accounts of units, and many other banks are also handling this.
On the morning of November 20, Jinchang Rural Commercial Bank announced that it will clean up and close some unit bank settlement accounts that have been inactive for a long time. Recently, some banks have adopted similar practices to Jinchang Rural Commercial Bank, including Dangyang Rural Commercial Bank, China Construction Bank Weifang Branch, Bank of Nanjing.
The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.
① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.
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Bank of Communications: Mixed Q3 2024 Financial Results
Interbank current deposit rates are significantly higher than policy rates. Some large banks face high liability pressures. The market expects pricing levels to be regulated.
1. Some banks' interbank current deposit rates are significantly higher than the current policy rates, significantly impacting short-term interest rates and increasing banks' liability costs. 2. The market anticipates that in the future, the level of interbank current deposit rates will be reasonably determined, effectively reducing banks' liability costs.
Deposit interest rates have generally declined, low volatility wealth management and large-denomination certificates of deposit have been promoted. Some small and medium-sized banks still maintain a relative advantage in large-denomination certificate of
①Although the interest rate level of large-denomination certificates of deposit has decreased somewhat, compared with ordinary time deposits, large-denomination certificates of deposit have a relatively high level of return. In addition, relatively speaking, the interest rates of some small and medium-sized banks are relatively high. ②For residents, it is recommended to diversify asset allocation based on their own risk tolerance and investment and financial management needs.
Why did the revenue and profit decrease in the first three quarters? How will the bank of communications respond to interest rate pressure in the fourth quarter? The earnings conference will address multiple hot topics in the industry.
① Regarding the decline in net profit and operating income in the first three quarters, the Bank of Communications said at a performance briefing today that the main thing is that processing fees, investment valuations, and exchange gains and losses were relatively weak, but it is anticipated that the one-time impact of policy factors on rival renewal revenue will gradually subside next year. ② In the first three quarters, Bank of Communications's net interest yield was 1.28%, down 2 basis points from the previous year.