Lu Dong

　　The "ballast stone" in the capital market of listed banks.

Since the beginning of this year, despite being disturbed by the complex external environment and the spread of the epidemic, the first-quarter performance of listed banks has remained stable.

As of April 27, the net profits of the nine banks that have announced their first quarterly reports have all achieved double-digit growth, and seven of them have reported a year-on-year increase of more than 20% in net profit attributable to the parent in the first quarter.

　　With the excellent first-quarter report card, the listed bank once again demonstrated that it is worthy of the title of high-quality blue-chip in the A-share market.

　　Since last year, due to the sluggish share price, "broken net" has become a high-frequency word to describe listed banks.

However, the other side of "breaking the net" is also being valued by the market. The performance of listed banks shows the resilience of continuous and stable growth, making their long-term investment value more and more prominent and becoming the favored target of institutional investors.

In the first quarter of this year, public funds increased their allocation to bank stocks. A recent research report released by China Everbright Securities showed that as of the end of the first quarter of 2022, the proportion of funds with heavy positions in bank stocks had reached 4.0%, an increase of 1.1 percentage points from the beginning of the year. The range ranks first among all industry sectors.

　　Financial activities, then the industrial prosperity.

As outstanding representatives of financial institutions, listed banks are not only "stabilizers" of the capital market, but also "leaders" in implementing national policies and supporting the real economy.

Listed banks have effectively improved the quality and efficiency of serving the real economy and injected "financial blood" into many enterprises.

　　In the first quarter of this year, listed banks continued to increase their credit offerings, which kept pace with their performance growth, and also ushered in a “good start” for credit.

As of now, the total loans of listed banks that have disclosed their first quarterly reports as of the end of March have all increased compared to the beginning of the year, which has provided great help for the implementation of the corporate relief policy.

　　At the same time, the overall growth in the performance of listed banks in 2021 and the first quarter of 2022 also provides room for them to release profits by reducing provision rates to increase credit provision.

　　What is particularly important is that while the listed banks have increased their credit supply, they have also further optimized their credit structure in order to be "true" and "accurate".

　　Judging from the information disclosed in the first quarterly report, the credit issuance of listed banks is closely focused on the overall situation of supporting the real economy, and the credit funds are aimed at key areas and key links such as high-end manufacturing and private enterprises.

　　The asset quality of listed banks is remarkable.

Among the banks that have disclosed their first quarterly reports, except for China Merchants Bank, the non-performing loan ratios at the end of the first quarter have all declined or remained the same as at the beginning of the year.

　　While increasing credit supply, the overall stability of asset quality will undoubtedly increase the confidence of various banks in supporting the real economy in the future, and lay the foundation for many enterprises to achieve stable operation under the precise drip irrigation of financial water.

　　We have reason to believe that under the continuous effect of the policy of easing credit and stabilizing growth, the logic of long-term stable performance of listed banks will remain unchanged, and it will still play an important role in stabilizing the capital market and stabilizing the broader economy.

(Securities Daily)