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Major bank rating | JPMorgan: Expects annual average profit growth of around 3% for domestic silver in the third quarter.
JPMorgan released a report stating that China's silver will announce third-quarter results, expecting revenue and pre-provision profit to decline slightly by 0.1% and 0.2% respectively year-on-year, with trends expected to be more stable than in previous quarters, while average profits are expected to increase by about 3% annually. The market focus is on management's guidance on net interest margin and the impact of newly announced policies. JPMorgan expects net interest income for the third quarter from China's silver to remain stable or drop by 13 basis points annually, a slower decline compared to the second quarter. Positive momentum in net interest income mainly comes from liability portfolio management, deposit repricing, and stabilization in loan rates. JPMorgan points out that the Postal Savings Bank of China may see profit growth rebound due to a cut in deposit agency fees.
Hong Kong stock's unusual movement | Mainland China banking stocks rose in early trading. It is rumored that Chinese banks are about to lower deposit rates again in the near future. The industry expects there is still room for further decline.
China mainland banking's morning session was in the red, as of the deadline, Postal Savings Bank of China (01658) rose by 3%, to HK$4.81; Bank of Communications (03328) rose by 2.5%, to HK$6.16; cm bank (03968) rose by 2.43%, to HK$40; Bank of China (03988) rose by 2.39%, to HK$3.86.
Postal Savings Bank of China Reveals Board Structure
Postal Savings Bank of China Appoints New Director
Postal Savings Bank of China (01658): Hong Xiaoyuan's qualification as an independent non-executive director has been approved by the China Banking and Insurance Regulatory Commission.
Postal Savings Bank of China (01658) issued an announcement, stating that the bank recently received the "Notice from the China Banking and Insurance Regulatory Commission regarding Hong Xiaoyuan, Postal Savings...
[Brokerage Focus] Haitong Int'l: The replenishment of core Tier 1 capital this time is more of a precautionary measure under conservative circumstances.
Jingwu Cai Xun | Haitong Int'l stated that on October 12, 2024, at the State Council Information Office press conference, it was mentioned that the issuance of special national bonds will support large state-owned commercial banks in supplementing their core tier one capital, enhancing their risk resistance and crediting capabilities, and better serving the development of the real economy. The bank indicated a precautionary stance. As of Q2 2024, the ranking of the adequacy ratio of core tier one capital for the six largest banks from highest to lowest is as follows: China Construction Bank Corporation 14.01%, Industrial and Commercial Bank of China 13.84%, Bank of China 12.03%, Agricultural Bank of China 11.13%, Bank of Communications 10.30%, Postal Savings Bank of China 9.2.
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