国信证券（香港）研报指出，上半年上市银行合计营业收入2.89万亿元，同比下降2.0%；合计归母净利润1.09万亿元，同比增长0.4%。该行认为，LPR下行、存量按揭利率调整、存款成本相对刚性等因素影响，银行净息差持续回落，拖累营收及净利润增速，是当前银行最大的压力来源。当前银行基本面仍然承压，边际变化不大，2024年全年表现或与中报接近，2025年有望迎业绩拐点。China mainland banking trended weakly, as of the time of publication, cm bank (03968) fell by 2.89% to HK$30.85; postal savings bank of china (01658) fell by 1.71% to HK$4.02; agricultural bank of china (01288) fell by 1.42% to HK$3.47.
According to the Zhitong Finance and Economics APP, china mainland banking trended weakly, as of the time of publication, cm bank (03968) fell by 2.89% to HK$30.85; postal savings bank of china (01658) fell by 1.71% to HK$4.02; agricultural bank of china (01288) fell by 1.42% to HK$3.47; bank of communications (03328) fell by 1.29% to HK$5.34; bank of china (03988) fell by 1.17% to HK$3.39.
On the news front, there are expectations of a further reduction in deposit and mortgage interest rates. Market sources indicate that financial regulatory institutions have proposed a total reduction of about 80 basis points in the existing housing loan interest rates nationwide, to be implemented in two steps. The first reduction may take place in the coming weeks, and the second reduction is expected to take effect early next year. Industry insiders point out that currently, commercial banks are under significant pressure in terms of net interest margins, and the willingness of commercial banks to proactively lower existing housing loan interest rates is not high. More supporting policies may be needed to guide banks to lower existing housing loan interest rates in the future.
Guosen Securities (Hong Kong) research reports indicate that the total operating income of listed banks in the first half of the year was 2.89 trillion yuan, a year-on-year decrease of 2.0%; the total net income attributable to the parent company was 1.09 trillion yuan, a year-on-year increase of 0.4%. The bank believes that the continued downward adjustment of the Loan Prime Rate (LPR), the adjustment of existing mortgage interest rates, and the relatively rigid deposit costs have led to a persistent decline in net interest margins for banks, dragging down both revenue and net income growth rates, making it the biggest source of pressure for banks at present. The fundamental situation of banks is still under pressure, with marginal changes being minor. The performance for the full year of 2024 may be close to that of the mid-year report, and there is hope for a turning point in performance in 2025.
