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.

金吾財訊Jul 25 01:34 ET

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.

Zhitong FinanceJul 23 20:30 ET

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.

Zhitong FinanceJul 15 23:10 ET

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.

Zhitong FinanceJul 15 06:38 ET

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.

Zhitong FinanceJul 15 05:23 ET

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.

Zhitong FinanceJul 12 04:32 ET