A-share listed banks' semi-annual report: 41 banks continue to explore interest rate spreads, 12 banks experience negative growth in net income. The window for another round of interest rate cuts for existing housing loans has opened, posing a potential c
① In the first half of the year, the net interest margin of 41 banks collectively declined, with 9 banks experiencing a decrease of 2% or more in their interest margin compared to the same period last year; there were as many as 12 banks with a negative growth in net income attributable to the parent, an increase of 7 compared to the same period last year. ② Experts believe that the continued narrowing of the net interest margin has put certain pressure on the profitability of banks, and the possible reduction of interest rates for existing housing loans in the near future will further challenge the interest margin of banks and increase operating pressure.
ICBC 2024 Semi-Annual Report
ICBC 2024 Semi-Annual Report Summary
Industrial and Commercial Bank of China (01398) will distribute a cash dividend of 0.1434 yuan per share on January 24, 2025.
Industrial and Commercial Bank of China (01398) announced that the 2024 interim profit distribution plan: cash dividend per ordinary share...
Announcement of the Resolutions of the Board of Directors
ICBC's H1 Profit Slides as Interest Income Falls 7%
ICBC: 1H Net Trading Income CNY9.61B Vs. CNY9.87B >1398.HK
ICBC: Nonperforming-Loan Ratio 1.35% at End-June Vs. 1.36% at End-Dec >1398.HK
Industrial & Commercial Bank of China 1H Net CNY166.805B Vs. Net CNY170.11B >1398.HK
[Hong Kong Stock Connect] Industrial and Commercial Bank of China (01398) reported a decrease of 1.89% in net income attributable to shareholders compared to the same period last year, with a proposed dividend of 1.434 RMB per 10 shares.
Golden Finance News | Industrial and Commercial Bank of China (01398) announced that as of June 30, 2024, the net income attributable to shareholders of the parent company was 170.467 billion yuan (RMB, the same below), a decrease of 1.89% year-on-year, with basic earnings per share of 0.47 yuan. It is planned to distribute a dividend of 1.434 yuan (tax included) per 10 shares. During the period, the group achieved revenue of 401.999 billion yuan, a decrease of 6.27% year-on-year. During the period, net interest income was 313.95 billion yuan, a decrease of 6.8% year-on-year. Interest income was 721.053 billion yuan, an increase of 24.47 billion yuan, a growth of 3.5%; interest.
Industrial and Commercial Bank of China (01398.HK): The net income attributable to the parent company in the first half of the year was 170.467 billion yuan, a year-on-year decrease of 1.9%.
On August 30, Guolonghui announced its mid-term performance for 2024. In the first half of 2024, the bank steadily advanced the transformation of intelligent risk control, modern layout, digital energy, diversified structure, and ecological foundation to promote its own high-quality development while serving the high-quality development of the real economy. The main operating indicators remained stable. The net profit for the first half of the year was 171.296 billion yuan, a decrease of 2.0% year-on-year. The annualized return on average total assets was 0.75%, and the annualized weighted average return on equity was 9.53%. The revenue was 4,019.99.
Express News | Icbc - as at Hy-End, Common Equity Tier 1 Capital Adequacy Ratio 13.84%
Express News | Icbc - Hy Net Interest Margin 1.43%
Express News | Industrial and Commercial Bank of China H1 Net Income RMB 171,296 Million
2024 Interim Results Announcement
Hong Kong stocks undergo abnormal trends | China Mainland banking continues to decline, with banks' net profits generally declining in the first half of the year. Morgan Stanley points out that the long-term trend of high-yield stocks remains unchanged.
China Mainland Banking continues to fall, as of the time of publication, CM Bank (03968) fell by 4.29%, to HK$32.35; Industrial and Commercial Bank of China (01398) fell by 3.03%, to HK$4.28; Postal Savings Bank of China (01658) fell by 2.8%, to HK$4.17.
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.
ICBC Tipped to Post 15% Rise in Second-Quarter Profit -- Earnings Preview
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.
Industrial and Commercial Bank of China (01398.HK): The issuance of the 2024 Tier 2 capital bonds (first tranche) (Bond Connect) has been completed.
On August 29th, ICBC (01398.HK) announced that, with the approval of the relevant regulatory institutions, the Industrial and Commercial Bank of China's Tier 2 Capital Bonds (First Phase) (Bond Connect) for the year 2024 have been issued in the national interbank bond market. The total issue size of these bonds is RMB 50 billion, divided into two varieties. Variety One is a 10-year fixed rate variety with a conditional issuer call option at the end of the 5th year. The issue size is RMB 42 billion, with a coupon rate of 2.25%. Variety Two is a 15-year fixed rate variety with a conditional issuer call option at the end of the 10th year.
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