601288 Agricultural Bank Of China
- 4.62
- +0.01+0.22%
Agricultural Bank Of China News
As of the end of the second quarter, the total assets of domestic and foreign currency of China's banking and financial institutions amounted to 43.31 trillion yuan, a year-on-year increase of 6.6%.
On August 9th, the China Banking and Insurance Regulatory Commission released the main regulatory indicators data for the banking and insurance industry in the second quarter of 2024.
Agricultural Bank of China Sets Key Meetings
Zhongtai Securities: Why were bank stocks the top gainer in Q2?
The marginal inflow of various funds and the rare outflow of institutional funds have driven banks to rank first in terms of rising stocks.
Saudi Arabia's Wealth Fund Signs MOUs With Six Chinese Financial Firms
Citi: The four major domestic banks prefer Industrial and Commercial Bank of China, followed by China Construction Bank, China Merchants Bank, Bank of Communications and Postal Savings Bank.
JPMorgan released a report stating that it remains bullish on the performance of Chinese banks in the second half of the year. The bank has raised its target price for China Construction Bank (03988) from HKD 4 to HKD 4.2, for Agricultural Bank of China (00939) from HKD 6.55 to HKD 6.7, for China Merchants Bank (03968) from HKD 44 to HKD 46, for China Citic Bank Corporation (00998) from HKD 4.4 to HKD 4.55, and for Postal Savings Bank of China (01658) from HKD 4.3 to HKD 4.6. JP Morgan continues to favor the four major Chinese banks with stable profitability and high yield, preferring them in the following order: Industrial and Commercial Bank of China (01398), Agricultural Bank of China (0.
Morgan Stanley: ICBC (01398) is the preferred among the four major domestic banks, followed by BOC (03988), CCB (00939), CMB (03968), BOComm (00998), and PSBC (01658) with target prices.
Goldman Sachs continues to favor the four major domestic banks that have stable profits and high yields, in order of preference: ICBC (01398), AgBank (01288), CCB (00939), and BOC (03988).
Jpmorgan: bullish on the performance of domestic banking industry in the second half of the year, preferring the four domestic banks with stable earnings and high yields.
JPMorgan released a report stating that it remains bullish on the performance of domestic banking industry in the second half of the year, believing that it will mainly benefit from the regulatory focus on safeguarding banks' net income and policy support for the stable macroeconomic growth prospects in the second half of the year. The bank expects domestic banks' revenue and profits to turn to growth in the second half of the year. JPMorgan continues to favor the four domestic banks with stable profitability and high yield rates, listed in order of preference: Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank Corporation, and Bank of China. The bank's analysis shows that the current dividend yield gap is still attractive for southward and A-share investors, and they can increase their shareholding during any weak periods. The bank has raised its target price on Bank of China from HKD4 to HKD4.2.
Saudi Arabia's PIF Signs $50 Billion Partnership Deal With Chinese Banks
China Risun Group Subsidiary Gets 450 Million Yuan Capital Injection
Zhejiang China Commodities City Issues 1 Billion Yuan Ultra-Short-Term Bonds
Agricultural Bank of China (01288.HK) is expected to launch 2 billion yuan green bonds starting from August 1st.
On July 31st, Gelunhui reported that Agricultural Bank of China (01288.HK) announced that the Agricultural Bank of China Limited Hong Kong Branch will issue RMB 2 billion 2.80% green bonds expiring in 2027. The listing and trading of the bonds are expected to take effect on August 1, 2024.
China's 'Big Four' Banks Cut Interest Rates
Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, and Bank of China have simultaneously lowered their deposit rates.
On July 25th, the five major banks including ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications simultaneously lowered their deposit interest rates. Among them, the three-month, six-month, and one-year fixed deposit rates were all lowered by 10 basis points, respectively 1.05%, 1.25%, and 1.35%; the two-year, three-year, and five-year fixed deposit rates were all lowered by 20 basis points, respectively 1.45%, 1.75%, and 1.8%. This means that if you deposit 1 million yuan for a tenure of 5 years, the interest received will decrease from the previous 0.1 million yuan to 0.09 million yuan, a decrease of approximately 0.01 million yuan.
Express News | China Construction Bank Announces 10-20 Basis Point Reduction in Time Deposit Rates - Statement
Express News | Icbc Announces 10-20 Basis Point Reduction in Time Deposit Rates Starting July 25
Lyon: The central bank optimizes the interest rate system, and the domestic banks are bullish on Agricultural Bank of China and China Construction Bank.
A report released by Lyon states that the People's Bank of China announced a rate cut earlier, with LPR for one-year and five-year terms decreasing by 10 basis points, reflecting the optimization of the interest rate system. The bank expects that the People's Bank of China will take more action, such as optimizing the transmission of interest rates with LPR and deposit pricing. After the United States took rate-cutting measures, the bank believes that the People's Bank of China has greater room for interest rate cuts, which may lead to a decline in net interest margin of banks. Lyon believes that a lower LPR will pose a challenge to net interest margin in the second half of this year and next year. However, in the long run, better transmission means that the bank's asset yield and liability cost are more matched, making banks more
Hong Kong stocks fluctuate | China mainland banking rises again, Agricultural Bank of China (01288) rises by more than 3% during trading, and bank deposit interest rates are expected to usher in a new round of cuts.
China mainland banking is rising again. As of press time, Agricultural Bank of China (01288) rose 2.6% to HKD 3.55; Industrial and Commercial Bank of China (01398) rose 2.07% to HKD 4.43; Bank of Communications (03328) rose 1.92% to HKD 5.84.
Citic Sec: Banks sector is expected to continue to recover positions, recommending two main lines.
As of Q2 2024, banks accounted for 2.45% of the heavyweight stocks held by active funds, up 0.21pct from Q1 2024.
Nanshui sold more than 0.3 billion yuan of Maotai, while Beishui further bought more than 0.4 billion Hong Kong dollars of Tencent.
Track the latest trends of north-south directional funds.
Northbound capital sold a net of 4.183 billion yuan worth of A-shares, and contrary to the trend, increased holdings of BYD Company Limited, Cambricon Technologies, and Agricultural Bank of China.
The northbound funds sold a net of 4.183 billion yuan of A-shares today. Among them, kweichow moutai, wuliangye yibin, and zhongji innolight suffered net sales of 0.336 billion yuan, 0.27 billion yuan, and 0.227 billion yuan respectively. BYD Company Limited, Cambricon Technologies Corporation, and Agricultural Bank of China received net purchases of 0.41 billion yuan, 0.257 billion yuan, and 0.254 billion yuan respectively.
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