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Insight into the 2024 Banking Earnings Conference | Why has Net income declined for the first time in four years? How will loans to certain risky clients be handled? MINSHENG BANK responded as follows.
①The decline in Net income is mainly due to increased provisions and significant investments in Technology leading to higher depreciation and amortization expenses; ②As of the end of 2024, the loan balances of the Dongfang Group, the Fanhai Group, and the Evergrande Group totaled approximately 35.278 billion yuan, and all have made provisions; ③It is expected that the Industry's interest margin will remain under pressure throughout the year, and efforts will be made to face the challenges to maintain stable revenue.
Brokerage morning meeting highlights: The industry allocation recommendations for April should focus on two main lines.
At today's Brokerage morning meeting, Galaxy Securities stated that the characteristics of a short-term structural economic recovery remain evident, with industries related to new productive forces performing better; HTSC believes that increased investment in global AI computing power is expected to drive the performance of businesses in sectors such as Optical Communications to remain positive; China Securities Co., Ltd. suggested that the industry allocation recommendations for April should focus on two main lines.
It is the "last day" for Consumer loan interest rates below 3%, and many Banks are still rushing to attract customers, fearing increased pressure on future lending.
① Many Banks are promoting a slogan "Last Day of Low Interest Rates", urging customers to quickly check their limits and receive interest rate coupons for withdrawals; ② Several Banks' Crediting personnel are concerned that an increase in Consumer loan rates may lead to a decrease in interest, continuing to increase lending pressure.
Citigroup: Short-term preference for CM BANK. If the six major domestic banks are overly adjusted, there will be absorption opportunities.
Citigroup released a Research Report stating that the year-on-year decline in pre-provision Operating income for the 15 covered domestic banks has narrowed to 1.9%, compared to a 3% year-on-year decline in the first nine months of last year, with the decline narrowing mainly due to solid Trade earnings in the fourth quarter and a low base in the fourth quarter of 2023. In the fiscal year 2024, the growth of Net income before preferred stock dividends accelerated, with a year-on-year increase of 1.7%, compared to a year-on-year increase of 0.7% in the first nine months of last year, attributed to lower Crediting costs. In the fourth quarter of 2024, with the exception of Ping An Bank (000001.SZ) and MINSHENG BANK (01988), most of the covered...
China Minsheng Banking's Profit Slips 10%, Opeating Income Falls 3% in 2024
The Ministry of Finance actively supports the large state-owned commercial Banks in replenishing their core Tier 1 capital.
① The Ministry of Finance will issue the first batch of 500 billion yuan special government bonds in 2025, which will be used to support the Bank Of China, China Construction Bank Corporation, Bank Of Communications, and Postal Savings Bank Of China in replenishing their core Tier 1 capital; ② Currently, state-owned large commercial banks are operating steadily, with stable asset quality and sufficient provisions. Supplementing capital through special government bonds will enhance their robust operational capability, promote high-quality development, and better serve the real economy.
