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Bank interim reports release warmth as A+H bank sector strengthens against the market
The A+H bank sector strengthened against the market during the broader pullback, with the CSI Bank Index rising 1.43% and the Hong Kong Stock Connect Mainland Financial Index up 0.15%. Ping An Bank, Bank of Nanjing, Bank of Ningbo, and Bank of Jiangsu have already disclosed interim reports, with year-on-year growth in both operating revenue and net profit attributable to the parent turning positive. Among them, Bank of Ningbo's net profit attributable to the parent grew 12.12% year-on-year. Shanghai Pudong Development Bank, Bank of Chongqing, and Chongqing Rural Commercial Bank disclosed preliminary results, with Bank of Chongqing's operating revenue and net profit attributable to the parent both growing more than 10% year-on-year. The industry-wide net interest margin saw its first quarter-on-quarter rebound in nearly four years. Analysts believe the stabilization of net interest margins mainly benefited from improved liability costs brought by the repricing of time deposits, but loan yields still face downward pressure, and margins are expected to remain broadly stable in the second half of the year.
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Banking sector rises against the market as net interest margin posts first quarter-on-quarter rebound in four years
While major market indices fell collectively, the banking sector rose against the trend. The CSI Banks Index gained 1.34 percent, and the Hang Seng Stock Connect Mainland Financials Index added 0.20 percent. Data from the National Financial Regulatory Administration show that at the end of the second quarter this year, the commercial banking net interest margin stood at 1.41 percent, up 1 basis point from the end of the first quarter, marking the first positive quarter-on-quarter increase since the first quarter of 2022. Among A-share banks, Chongqing Rural Commercial Bank rose 3.08 percent, Xiamen Bank gained 2.77 percent, and China CITIC Bank advanced 2.15 percent. In Hong Kong, Bank of Chongqing rose 2.14 percent. The ChinaAMC Banking ETF is the lowest total fee ETF tracking the CSI Banks Index, while the ChinaAMC Stock Connect Financials ETF is the largest ETF tracking the Hang Seng Stock Connect Mainland Financials Index.
每日经济新闻·3dRead more ▾
Five Listed Banks Report First-Half Results: Revenue and Net Profit Both Rise, Deposit Growth Outpaces Loans
Data from the National Financial Regulatory Administration shows that in the second quarter of 2026, the net interest margin of commercial banks was 1.41 percent, up 0.01 percentage point from 1.40 percent in the first quarter, marking the first quarter-on-quarter increase since 2022. As of August 18, Ping An Bank, Shanghai Pudong Development Bank, Bank of Jiangsu, Bank of Chongqing, and Chongqing Rural Commercial Bank have all released their 2026 interim results or preliminary earnings reports. All five banks achieved positive growth in both revenue and net profit in the first half, and their year-on-year revenue growth rates all improved compared with the same period last year. Bank of Chongqing's revenue rose 10.80 percent year on year to 8.486 billion yuan, Bank of Jiangsu grew 9.11 percent to 48.952 billion yuan, Chongqing Rural Commercial Bank increased 7.81 percent to 15.892 billion yuan, Shanghai Pudong Development Bank rose 3.55 percent to 93.777 billion yuan, and Ping An Bank grew 1.8 percent to 70.617 billion yuan. In terms of net profit, Bank of Chongqing's net profit attributable to shareholders was 3.518 billion yuan, up 10.28 percent year on year; Bank of Jiangsu posted 21.876 billion yuan, up 8.09 percent; Chongqing Rural Commercial Bank reported 8.168 billion yuan, up 6.09 percent; Shanghai Pudong Development Bank recorded 30.951 billion yuan, up 4.08 percent; and Ping An Bank delivered 25.696 billion yuan, up 3.3 percent. A common feature of the five banks is that deposit growth was significantly higher than loan growth, consistent with central bank data: at the end of July 2026, the outstanding balance of renminbi deposits grew 8.1 percent year on year, while the outstanding balance of loans grew 5.1 percent. Bank of Jiangsu had the largest gap between deposit and loan growth, with deposits up 17.39 percent from the end of last year and loans up 12.20 percent. Bank of Chongqing's deposits grew 10.87 percent and loans grew 9.63 percent. Shanghai Pudong Development Bank's deposits rose 5.05 percent and loans rose 2.88 percent. Ping An Bank's deposits increased 2.2 percent and loans increased 1.8 percent. Ping An Bank President Ji Guangheng said effective financing demand remains insufficient, and retail personal loan growth in the first half was only a few billion yuan. On asset quality, Bank of Jiangsu's non-performing loan ratio was 0.81 percent, the best since its listing; Chongqing Rural Commercial Bank's ratio was 1.05 percent, down 0.03 percentage point from the end of last year; Ping An Bank's ratio was 1.05 percent, unchanged; and Shanghai Pudong Development Bank's ratio was 1.25 percent, down 0.01 percentage point.
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Small and medium banks raise deposit rates, big banks relaunch five-year large certificates of deposit, banking profit divergence intensifies
Since August, multiple small and medium banks in Hubei, Guangdong and other regions have raised deposit rates by 10 to 33 basis points. Meanwhile, the four major state-owned banks—Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank—along with several joint-stock banks, have relaunched five-year large certificates of deposit, with the highest annualized rate reaching 1.80 percent. Analysts point out that the deposit rate hikes by small and medium banks are a regional defensive move driven by periodic pressure to attract deposits, and do not signal a turning point in the industry's overall rate trend, nor are they directly linked to the big state banks' relaunch of large certificates of deposit. A research note from Kaiyuan Securities argues that the relaunch of five-year large certificates of deposit results from a confluence of factors on the institutional, supply, and demand sides, with all banks issuing them in limited quantities, reflecting an orderly progression rather than a full-scale liberalization. Taken together, these differentiated competitive moves may help stabilize deposit volumes in the short term, but will push up funding costs for small and medium banks, intensify pressure on narrowing net interest margins, and further highlight the profit divergence between large and small banks. In the medium to long term, this will force the banking industry to accelerate business transformation.
的差异化竞争行为·16dRead more ▾
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A roundup of bank personal loan rate caps: Big four banks at 6%, some city and rural commercial banks lower than joint-stock banks
Several banks recently announced caps on the overall financing costs of personal loans. State-owned large banks, joint-stock banks, city commercial banks, and rural commercial banks show an overall stepwise increase but with internal divergence. Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank all have an annualized rate cap of 6% for personal consumer loans and business loans, while Postal Savings Bank of China and Bank of Communications set the cap at 12%. Among joint-stock banks, China Merchants Bank, China CITIC Bank, and several others cap their self-operated consumer loans at 12%, Ping An Bank reaches 18.5%, and China Bohai Bank and Evergrowing Bank go up to 24%. For business loans, China Everbright Bank caps at 8%, Huaxia Bank at 10%, Ping An Bank at 20%, and China Bohai Bank at four times the loan prime rate. Among city commercial banks, Qilu Bank, Bank of Jilin, and Qishang Bank set the overall financing cost cap at 18%, while Bank of Chengdu caps self-operated consumer loans and business loans at just 7%. Rural commercial banks show clear divergence: Chongqing Rural Commercial Bank, Shunde Rural Commercial Bank, and Guangzhou Rural Commercial Bank cap consumer loans at 12%, Xiamen Rural Commercial Bank and Zijin Bank go as high as 24%, and Chongqing Rural Commercial Bank also sets a 10% cap for loans to farmers. The cap for cooperative internet loans is generally 24%. These caps take effect from August 1, 2026, and all represent the rate ceiling under normal repayment conditions. Su Xiaorui, senior researcher at Suxi Zhiyan, said that the rate caps correspond to different bank customer segments, and transparent disclosure with tiered stratification is an important sign of a maturing credit market.
Jiemian·24dRead more ▾
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Shanghai Main Board Blue Chips Buck the Trend, CCB Share Price Hits Record High
Blue-chip stocks on the Shanghai main board bucked the trend and strengthened, with China Construction Bank's share price hitting a record high of 10.73 yuan during the session. On July 29, blue-chip sectors such as financials, property, and steel led the gains. The Shenwan banking sector index has risen 11.7% since July, ranking first among all primary industries. Market participants say the logic behind the blue-chip rally is shifting from valuation repair to a dual driver of high dividend stability and earnings certainty. Half-year earnings guidance from some industry leaders has already set the tone, with 16 brokerages on the Shanghai market expecting combined net profit attributable to parent companies to grow 59% to 67% year-on-year in the first half. In addition, high dividends from blue-chip companies are serving as a ballast for capital seeking safety. Since July, at least 12 Shanghai main board company chairmen or major shareholders have proposed interim profit distributions.
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Chongqing Rural Commercial Bank President Sui Jun Resigns Multiple Posts Due to Job Transfer
Chongqing Rural Commercial Bank Executive Director and President Sui Jun has resigned from multiple posts due to a job transfer. On July 22, Chongqing Rural Commercial Bank announced that Sui Jun resigned from his positions as Executive Director, President, and Chief Compliance Officer, and will no longer serve as Chairman of the Board Risk Management Committee and Consumer Rights Protection Committee, nor as Authorized Representative under Rule 3.05 of the Hong Kong Stock Exchange Listing Rules.
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Chongqing Rural Commercial Bank's first-half net profit attributable to shareholders rises 6.09% year-on-year
Chongqing Rural Commercial Bank disclosed its preliminary results, reporting first-half operating revenue of 15.892 billion yuan, up 7.81% year-on-year. Net profit attributable to shareholders came in at 8.168 billion yuan, an increase of 6.09% year-on-year, with basic earnings per share of 0.71 yuan. As of June 30, 2026, the non-performing loan ratio stood at 1.05%, down 0.03 percentage points from the end of the previous year. The provision coverage ratio was 357.47%, a decrease of 9.79 percentage points from the end of the previous year, but up 1.89 percentage points from the same period last year.
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