CITIC Construction Investment's 24-year outlook for the banking industry: three-bottom resonance promotes sector valuation restoration
CITIC Construction Investment released a research report saying that for a complete round of banking sector market conditions, it is necessary to experience the three key points of policy bottom, economic bottom, and performance bottom in sequence. The sector's performance characteristics will change markedly before and after the three major points.
The first Bank Fintech Company Seminar was successfully held
On November 29, the first Bank Fintech Company Seminar was successfully held in Beijing. This seminar is a joint initiative of Chengfang Financial Technology Co., Ltd., China Internet Association Digital Finance Working Committee, ICBC Technology Co., Ltd., Agricultural Bank Fintech Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., Bank of China Financial Technology Co., Ltd., and China Postal
BoCom Recognized as Global Systemically Important Bank
Bank of Communications (SHA:601328, HKG:3328) has been recognized as a global systematically important bank (G-SIB), a designation given to lenders so large that their failure could trigger a financia
Guangfa Securities: Q4 focuses on the phased opportunities of urban commercial banks and the high dividend logic, which is expected to restart in the first half of next year
The Zhitong Finance app learned that Guangfa Securities released a research report saying that Q4 focuses on phased opportunities for urban commercial banks, and the logic of high dividends is expected to restart in the first half of next year.
Mortgages in the Central Plains: 278 mortgage registrations for the elderly in the first 10 months in Hong Kong increased by 44% year-on-year
In October 2023, there were 47 bank mortgage loans for the elderly registered in Hong Kong, an increase of 27% over the previous year, all of which were contracted by Bank of China Hong Kong (02388).
Guangfa Securities Q3 Bank Regulatory Data Review: Overall sector performance is still under pressure, but asset quality is still stable
The Zhitong Finance app learned that Guangfa Securities released a research report saying that on November 14, the China Financial Supervisory Administration announced data on the main regulatory indicators of the banking industry for the third quarter of 2023.
Bank of Communications Issues 30 Billion Yuan Bonds to Boost Tier-2 Capital
Bank of Communications (HKG:3328, SHA:601328) issued 30 billion yuan worth of tier-2 capital bonds in the local interbank debt market. The lender sold 10-year bonds worth 15 billion yuan with a coupon
Bank of Communications (03328) completed the issuance of 30 billion yuan of secondary capital bonds
The Bank of Communications (03328) announced that with the approval of the State Administration of Financial Supervision and Administration and the People's Bank of China, the bank recently...
Chinese Commercial Banks' Forex Settlement Deficit Shrinks in October
Commercial banks in China booked 54.1 billion yuan in foreign exchange settlement deficit in October, according to data from the State Administration of Foreign Exchange (SAFE) on Wednesday. The figur
China Financial Supervisory Administration: The total assets of the banking and insurance industry grew steadily in the third quarter, and financial services continued to strengthen
At the end of the third quarter of 2023, China's banking financial institutions had total local and foreign currency assets of 409.8 trillion yuan, an increase of 9.5% over the previous year; the total assets of insurance companies were 29.6 trillion yuan, an increase of 2.4 trillion yuan over the beginning of the year, an increase of 9% over the beginning of the year.
Tourover Auto Maintenance and Bank of Communications Shanghai Branch sign strategic cooperation agreement
On November 14, 2023, Shanghai Mintu Information Technology Co., Ltd. (hereinafter referred to as “Tourover Car Maintenance”) and Bank of Communications Co., Ltd. Shanghai Branch (hereinafter referred to as “Bank of Communications Shanghai Branch”) held a grand signing ceremony for the “Bank-Enterprise Strategic Cooperation Agreement”. According to the agreement, the Shanghai branch of the Bank of Communications will provide the intended credit line of 2 billion yuan to Tourover Car Maintenance, and the Shanghai Branch of the Bank of Communications will actively use its business advantages to provide financial services including credit services, settlement services, international business, investment services, personal business, and e-banking for Tourover car maintenance. Tourover maintained cars at 201
Minsheng Securities: What is the impact of the “new capital regulations” on banks' capital levels and investment behavior?
On November 1, 2023, the State Financial Supervisory Administration issued the “Commercial Bank Capital Management Measures”. The new capital measures will be officially implemented on January 1, 2024.
CITIC Securities: The low level of banking conditions is waiting for expectations to be repaired
The Zhitong Finance App learned that a research report released by CITIC Securities said that judging from the three-quarter report, the overall performance growth rate of A-share listed banks has slowed, net interest-end interest spreads are still under downward pressure, and the non-interest-end investment business and intermediary business in the third quarter were also greatly affected by the market, but the overall asset quality of the banking industry was running steadily, and the industry's credit costs continued to be reduced.
CICC: Overall, the new bank capital regulations are conducive to saving bank capital
The Zhitong Finance app learned that CICC released a research report saying that on November 1, the State Administration of Financial Supervision announced the “Measures on Capital Management of Commercial Banks”, which will be officially implemented on January 1, 2024.
CICC: Maintaining Bank of Communications's “Outperforming Industry” Rating, Target Price Rises to HK$6.74
CICC released a research report saying that it maintained Bank of Communications (03328)'s “outperform the industry” rating, and its profit forecast for this year and next year remained unchanged. Based on adjustments to the mainland real estate market and debt disposal policies, the target price increased 14% to HK$6.74. The company's revenue and net profit for the first three quarters increased 1.7% and 2.4% year on year, and profit before provision (PPOP) fell 0.5% year on year; revenue, net profit and PPOP for the third quarter fell 4.6%/3.2%/9.7% year on year, slightly below the company's expectations. I believe it was mainly due to weak non-interest business and rising cost-to-revenue ratio. The bank pointed out that due to fluctuations in the capital market
CICC: Maintaining Bank of Communications (03328)'s “Outperforming the Industry” rating, the target price was raised to HK$6.74
CICC expects that the reduction in deposit costs of the Bank of Communications will lead to an increase in net interest spreads. Furthermore, it is estimated that its provision coverage rate will continue to rise.
Bank of Communications's Profit Falls 3% in Q3; Shares Down 4%
Bank of Communications (HKG:3328, SHA:601328) posted a net profit attributable to shareholders of 23.13 billion yuan for the third quarter, down 3% from 23.84 billion yuan a year earlier.
Direct impact of changes | Domestic bank stocks fell collectively, the Postbank fell nearly 7%, and the net profit of many major banks increased slightly year-on-year in the third quarter
On October 30, $Bank of China (BK1239.HK) $ fell collectively. As of press release, $Postbank (01658.HK) $ fell 6.84% to HK$3.54; $Bank of Communications (03328.HK) $ fell 4.77% to HK$4.59; $China Merchants Bank (03968.HK) $ fell 4.29% to HK$30.15; $ICBC (01398.HK) $ fell 2.86% to HK$3.74; $CCB (0093HK) Decreased 2.19% to HK$4.46 。 Photo source: Futu Niu Niu
BANKCOMM: RESULTS ANNOUNCEMENT FOR THE THIRD QUARTER 2023
Asia Tele-Net and Technology's Unit Buys Deposit Product for 59.9 Million Yuan
Asia Tele-Net and Technology's (HKG:0679) unit, Process Automation International, purchased through the market a 60 million yuan deposit product for a consideration of 59.9 million yuan. The deposit p