A new round of interest rate cuts for deposits is about to end its first month: small and medium-sized banks continue to follow suit, and some banks have made a second adjustment within the month. Is there still room for further cuts?
① In the context of market interest rate decline, banks are facing continuous pressure to narrow their net interest margin. Some banks have directly lowered deposit interest rates, while others have adjusted them in a phased manner. ② The phenomenon of inverted deposit interest rates is the result of the combined effects of macroeconomic conditions, bank operational strategies, policy guidance, and market expectations.
What is the reason for the year-on-year decrease in net profit of some private banks? The Financial Regulatory Bureau responded.
Liao Yuanyuan said that the net income growth rate of private banks has experienced negative growth. Mainly because these banks have significantly increased their provisions compared to the same period last year, which directly affects the current profits and leads to a temporary decline in net income of private banks.
Who is buying banks according to Xingye Securities?
The banking sector has performed well this year, as of August 19th, the Shenwan Bank Index has increased by 19.08%, ranking first among all 31 first-tier industries, with returns exceeding second place by 10%. Among them, the stock prices of the five major banks, including ICBC and China Construction Bank, have set new highs.
China Everbright Bank Prepares for Board Meeting
CEB Bank (06818.HK) plans to hold a board of directors meeting on August 30 to approve its interim performance.
CEB Bank (06818.HK) announced on August 20th that the company will hold a board of directors meeting on Friday, August 30, 2024 to review and (if deemed appropriate) approve the mid-term performance of the company and other matters for the six months ending June 30, 2024.
CEB Bank (06818): Chen Shaodong takes over from Li Lewen as the reviewer of project quality control.
CEB Bank (06818) announced that the ninth board of directors meeting will be held on February 6th, 2024...
CEB BANK: NOTICE OF BOARD MEETING
August LPR quote remaining unchanged meets market expectations. Industry experts predict that the main policy interest rate in the fourth quarter may be cut again, which will guide LPR to adjust accordingly.
Last month, the two LPR quotes for different maturity varieties were just lowered by 10 basis points respectively. In addition, the main policy interest rate of the central bank before this quote (7-day reverse repo rate) remained stable. Therefore, the unchanged LPR quotes for the two maturities in August are in line with market expectations.
Banks are intensively launching deposit benefits campaigns, and the effort to attract deposits is increasing. Can the idea of "high interest to attract deposits" be continued?
- With the further reduction of deposit interest rates and the emergence of deposit migration phenomenon, many banks have launched a series of deposit-related welfare activities to attract and stabilize deposits. - Experts believe that attracting deposits with welfare and gifts still has the suspicion of "high-interest deposits", which will inevitably increase the liabilities cost of some banks. Therefore, banks need to closely follow the pain points of customer preferences to improve the quality of financial services.
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.
CEB Bank (06818): Dividends of RMB 4.01 per share for "CEB Preferred Stock 2" will be distributed on August 12.
CEB Bank (06818) announced that the second phase of its preferred stock (referred to as Guangda You 2, code 3600...
China Everbright Bank Company Limited's (SHSE:601818) Market Cap Dropped CN¥8.9b Last Week; Private Companies Bore the Brunt
China Everbright Bank's Unanimous Meeting Success
Banks stocks generally decline, CM Bank (03968) falls 4.35%, Guolian Securities points out that there may be increased pressure on bank interest spreads.
Bank stocks fell across the board, with CM Bank (03968) down 4.35%, CEB Bank (06818) down 2.89%, Minsheng Bank (01988) down 2.87%, and Bank of Communications (03328) and China Citic Bank Corporation (00998) following suit. On the news front, ICBC and ABC will adjust RMB deposit rates from July 25, with the largest reduction in the interest rate for fixed deposit of more than two years, which is 20 basis points. As of the time of publication, the official websites of BOC and CCB have not yet made adjustments, but they are expected to do so soon. According to the information on the ICBC website, the latest policy will be implemented from July 25.
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.
GTJA Securities: Diluting the obsession with scale and embracing the new norm of social financing.
PBOC Governor Pan Gongsheng pointed out at the Lujiazui Forum that when the growth of monetary and credit has shifted from supply constraints to demand constraints, if the focus is still on the increase in quantity even in the presence of a "size bias", it obviously contradicts the laws of economic operation. It is expected that the motivation behind banks using bills to pledge loans will significantly weaken, and more attention will be paid to the adjustment of loan structure and improvement of business quality and efficiency. Both social financing and credit will enter a "new normal" of growth.
CEB Bank (06818): The coupon stock dividend rate of Guangda You 3 will be adjusted to 3.77%.
China Everbright Bank (CEB Bank) announced that starting from July 18, 2024, the benchmark interest rate for the second dividend rate adjustment period of CEB Bank's You 3 is 2.01%, with a fixed premium of 1.76% and a face dividend rate of 3.77%. The dividend will be paid once per fiscal year.
China Everbright Bank (601818.SH) will distribute dividends for its 2023 annual A-share common stock: 0.173 yuan per share. Record date is July 23.
China Everbright Bank (601818.SH) announced the implementation of annual A-share common stock dividend distribution for 2023, with this distribution amounting to dividends.
GF Sec: A summary of the quota and usage of interbank certificates of deposit in the first half of 2024.
Under the policy guidance of idle funds pressure, it is unlikely that state-owned banks will update their filing quotas within the year. In history, only a few urban and rural commercial banks have updated their filing quotas due to the scale of their deposit certificates exceeding the filing quotas, and state-owned banks have no precedent yet.
China Longyuan Power Sells 1 Billion Yuan of 183-Day Bonds
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