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Rules for the normalization of existing house loan interest rates have arrived! Understand it in one article.
①Preliminary statistics show that as of October 28, 21 nationwide banks have completed batch adjustments, totaling 53.667 million transactions, reducing the outstanding housing loan interest rates by 25.2 trillion yuan. ②After this round of batch adjustments, the interest rates for existing housing loans have been reduced to 3.3%. If the gap between existing and new housing loan rates is greater than 30 basis points, it will drive a new round of reductions in existing housing loan rates.
The operating conditions of the six major state-owned banks in the first three quarters have all been revealed, with a total net profit attributable to the parent company exceeding 1 trillion, earning 3.867 billion per day, and the overall asset quality i
As of October 30, the quarterly reports of state-owned major banks have all been disclosed. Among the six state-owned major banks, the revenues of ICBC, ABC, and BOC for the first nine months year-on-year. Bank of Communications, Agricultural Bank of China, China Construction Bank showed that the proportion of time deposits is still rising.
The Agricultural Bank's net profit increased by 3.6% in the first three quarters. The earnings conference will reveal the progress of "capital injection". Management expects stable interest margins this year and pressure will persist next year.
①Agricultural Bank is advancing the implementation of capital replenishment in accordance with the overall arrangements of regulatory institutions and shareholders. "Currently, we are actively communicating with relevant departments and studying and demonstrating the plan for core Tier 1 capital replenishment." ②Looking at the changes from next year, under the macro policy guidance of financial benefits to the real economy, it is expected that Agricultural Bank's net interest margin will continue to be under pressure, and the trend of changes will remain basically consistent with peers.
On the eve of the "historical" financial report, byd company limited sees a mass exodus of short sellers.
Data shows that the short-selling ratio of BYD Company Limited's Hong Kong stocks decreased from 7.7% earlier this year to 0.9% last Friday, close to the lowest level since July 2022. Currently, the market expects BYD's third-quarter revenue to be 204.8 billion yuan, aiming to achieve a historic high and surpass tesla.
Kweichow Moutai's performance in the first three quarters meets expectations. The timing for interim dividends and buybacks has not been determined yet. | Interpretations
①Kweichow Moutai's third-quarter earnings announced tonight basically meet expectations, with revenue growth exceeding the annual guidance; ②The proportion of direct sales in the first three quarters of this year has declined, which is related to the poor performance of the company's direct sales platform "i Moutai". In the first three quarters, i Moutai achieved a tax-free revenue of 14.766 billion yuan for alcoholic beverages, a slight decrease compared to the same period last year; ③Against the backdrop of current consumer softness, it is highly anticipated whether Kweichow Moutai will lower its operation targets next year.
When will the repricing cycle change after the adjustment of the existing house loan interest rate? ICBC and CMB are already preparing relevant work, while many banks have no plans yet.
Industrial and Commercial Bank of China, CM Bank stated that they are actively preparing for the relevant work of redefining the 'repricing day' for housing loans. Prior to this, the central bank announced that starting from November 1, 2024, for floating-rate contracts, borrowers of commercial individual housing loans can negotiate with banks and financial institutions in the industry to agree on a repricing cycle. Today's adjustment of existing housing loan interest rates only involves additions or deductions, and does not involve changes in repricing cycles.