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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 Minsheng Banking Issues 30 Billion Yuan Capital Bonds
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.
Minsheng Bank has completed the issuance of 30 billion yuan of non-fixed term capital bonds.
Minsheng Bank (01988) announced that the bank has successfully issued the "China Minsheng Bank Co., Ltd. 2024 Perpetual Capital Bonds (First Tranche)" in the National Interbank Bond Market, and registered and deposited the bonds at China Central Depository & Clearing Co. This bonds series was bookbuilding on August 15, 2024, and was issued on August 19, 2024. The issue size was RMB 30 billion, and the bond adopts a phased adjustment of the face interest rate, with a face interest rate adjustment period every 5 years. The face interest rate is 2.35% for the first 5 years, and for each interest payment after the 5th year.
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