China Galaxy Securities: Asymmetric interest rate cuts protect interest margins, and the fundamentals of the Bank Sector are expected to improve.

China Galaxy Securities' Research Reports indicate that the implementation of asymmetric interest rate cuts for deposits and loans will support the stabilization of bank interest margins. Although the banking industry's performance saw some fluctuations in the first quarter, a recent package of financial policies has been introduced, with structural tools being strengthened, leading to continued accumulation of positive factors for banks' fundamentals, making a performance turning point likely. The underweight position of public funds welcomes a recovery opportunity, with medium to long-term funds accelerating the realization of the bank's dividend value.