Why did the revenue and profit decrease in the first three quarters? How will the bank of communications respond to interest rate pressure in the fourth quarter? The earnings conference will address multiple hot topics in the industry.

① Regarding the decline in net profit and operating income in the first three quarters, the Bank of Communications said at a performance briefing today that the main thing is that processing fees, investment valuations, and exchange gains and losses were relatively weak, but it is anticipated that the one-time impact of policy factors on rival renewal revenue will gradually subside next year. ② In the first three quarters, Bank of Communications's net interest yield was 1.28%, down 2 basis points from the previous year.

cls.cnNov 12 06:06 ET

State-owned major banks are taking action again, the bank of communications has raised the debit card Alipay quick payment limit, and three national banks have launched a "raising limit action".

On the afternoon of November 7, bank of communications announced on its official website that starting from November 18, 2024, the quick payment limit of bank of communications debit cards in Alipay consumer scenarios will be increased to RMB 0.2 million per transaction, RMB 0.2 million per day, and RMB 6 million per month. Recently, postal savings bank of china and cm bank have also increased the quick payment limits for their debit cards on Alipay or WeChat.

cls.cnNov 7 22:48 ET

Agricultural Bank of China Limited (ACGBY) Q3 2024 Earnings Call Transcript Summary

moomoo AINov 2 04:20 ET · Conference Call

China Construction Bank Corporation (CICHY) Q3 2024 Earnings Call Transcript Summary

moomoo AINov 1 23:57 ET · Conference Call

The interest spread continues to narrow, with china construction bank corporation's revenue declining by 3.3% in the first three quarters! The earnings conference reveals: the scale of early repayment has decreased, and the long-term trend still needs fur

In the first three quarters of this year, China Construction Bank Corporation achieved revenue of 569.022 billion yuan, a decrease of 3.30% compared to the same period last year; the net income attributable to owners was 255.776 billion yuan, a slight increase of 0.13% year-on-year. In the first three quarters, China Construction Bank Corporation's interest and fee income declined significantly, affected by factors such as exchange rates and capital market fluctuations, while other non-interest income increased significantly year-on-year.

cls.cnOct 30 19:44 ET

Nine joint-stock banks have followed suit today, with seven banks including Everbright and Guangfa announcing a reduction in the deposit benchmark interest rates, with the highest fixed deposit rate cut by 25 basis points.

①The current banks have started a new round of deposit rate cuts, which is of great significance in maintaining interest margins, thereby ensuring the stable operation of commercial banks and increasing the support for financing the real economy continuously. ②This round of bank deposit rate cuts is expected to basically offset the impact of various loan rate cuts on net interest margins.

cls.cnOct 21 09:39 ET