Bank stocks are "pre-happy", the banking sector has risen against the market trend, and the net profit attributable to the parent company of
many banks has increased by more than 20% year-on-year
The banking sector has risen against the market this year!
According to data from the choice of Oriental Fortune, as of the close on January 12, since the beginning of this year, the Shanghai Index has fallen by 1.16%, the Shenzhen Component Index has fallen by 2.94%, and the ChiNext Index has fallen by 5.60%. However, the banking sector has risen by 4.29% this year. Among the first-level industries, the increase ranked second.
Behind the rise, Bank of Jiangsu, Bank of Changshu, Industrial Bank and other banks have recently released "bright" 2021 annual performance reports. The reporter sorted out the performance reports and noticed that the net profit attributable to the parent in 2021 of many listed banks has increased by more than 20% year-on-year. 20%.
Some financial institutions reminded that since 2021, due to factors such as low base, the profits of listed banks have rebounded significantly.
It is expected that the year-on-year growth rate of net profit of listed banks in 2022 may fall back to between 6% and 10%.
Text, watch/Wang Chuhan, all media reporter of Guangzhou Daily
Banking sector: medium and long-term internal differentiation will continue
The banking sector has performed well this year.
According to data from the choice of Oriental Fortune, as of the close on January 12, since the beginning of the year, the Shanghai Composite Index fell 1.16%, the Shenzhen Component Index fell 2.94%, and the ChiNext Index fell 5.6%. However, the banking sector rose against the trend, rising 4.2% this year. Among the 31 first-tier industries of Shenyin & Wanguo, the increase ranked second.
Zhou Maohua, an analyst at the Financial Market Department of China Everbright Bank, believes that since the opening of the market at the beginning of the year, stocks in sectors that have accumulated large gains in the past year have successively retreated, and some safe-haven funds have flowed into defensive sectors such as banks, which to a certain extent reflects that investors are adjusting their investment strategies.
From the perspective of fundamentals and valuation, at present, the banking sector as a whole is in a stage of both offense and defense.
Judging from the existing trends, the banking sector is generally optimistic in the coming period, mainly due to the improvement of the bank's profit prospects and asset quality, and the attractiveness of the low valuation and high dividend yield of the banking sector.
For investors, the Everbright Securities research report pointed out that it is recommended to focus on three main lines of investment logic in the first quarter: the main line of rebound brought about by the weakening of real estate risks; the main line of stable operation of local banks in high-quality regions; main line.
Wanlian Securities research report reminds that in the medium and long term, the internal division of the banking sector will continue to be differentiated. It is recommended to pay attention to banks with a continuous increase in the proportion of intermediary business income and banks with continuous improvement in fundamentals.
Performance: Revenue growth is generally stable and asset quality continues to improve
At the same time, the bank's performance was equally impressive.
Recently, Bank of Jiangsu, Bank of Changshu, Industrial Bank, Bank of Sunong, Bank of Chengdu, etc. have successively disclosed their 2021 annual performance reports.
The reporter sorted out the performance bulletin and noticed that the net profit attributable to the parent company in 2021 of many listed banks has increased by more than 20% year-on-year.
The research report of Everbright Securities pointed out that the overall performance report of listed banks showed that the revenue growth rate was generally stable; asset quality continued to improve, and the non-performing ratio fell slightly or remained flat quarter-on-quarter. Features.
Judging from the disclosed data, the net profit attributable to shareholders of the parent company of Bank of Jiangsu in 2021 will be 19.694 billion yuan, a year-on-year increase of 30.72%, the highest growth rate in the past decade; Industrial Bank will realize a net profit attributable to shareholders of the parent company of 82.68 billion yuan Yuan, an increase of 24.1% year-on-year, a nine-year high; Sunong Bank achieved a net profit attributable to shareholders of 1.148 billion yuan, a year-on-year increase of 20.72%, the highest increase in the past ten years.
What are the reasons for the dramatic increase in bank performance?
"It is mainly due to the timely control of the spread of the epidemic in China, the precise policy support, the gradual recovery of production and life, the recovery of corporate operations, and the continuous improvement of bank profitability and asset quality; at the same time, last year's low base effect." Zhou Maohua analyzed.
Outlook: The year-on-year growth rate of net profit this year may fall to 6% to 10%
According to the analysis of the "2022 Commercial Bank Operation Outlook Report" (hereinafter referred to as the "Report") released by the Bank of Communications Financial Research Center, since 2021, affected by factors such as low base, the profits of listed banks have rebounded significantly.
It is expected that the year-on-year growth rate of net profit of listed banks in 2022 may fall to between 6% and 10%, and the net profit of listed banks attributable to the parent company will increase by about 6.5% year-on-year.
The "Report" proposes that in 2022, under the background of the policy environment of stabilizing growth and the continuous efforts of commercial banks to serve the real economy, the proportion of listed bank loans is expected to further increase to about 59%, and the proportion of non-credit assets may drop to 41% The proportion of deposits will steadily increase to about 78%, and the proportion of inter-bank liabilities may decrease slightly.
In addition, the regulatory authorities continue to deepen the reform of interest rate marketization, which has prompted the actual loan interest rate to continue to be stable and moderate, and promote the financial system to transfer profits to the real economy. The market interest rate center tends to decline.
The pressure of competition for deposits is still high, but the effect of the reform of the deposit pricing mechanism will be further released, which will help to reduce the average debt cost of banks by about 10 BP.