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Medium-term earnings growth of listed banks down bad new rally

    total 16 listed banks in the first quarter of the year attributable to the parent company's net income of $ 354.3 billion yuan, an increase of 3.2%, fell 4.5%. Shen Wan Hong Yuan is expected first half earnings growth rates will continue to narrow to 2.5% per cent, compared with a quarter in 0.7%. Ping an is expected relatively optimistic, that average earnings growth is likely to reach 3.3% in the first half, and essentially flat in the first quarter.

    This one, big state-owned bank, shares, city commercial banks will still render differentiation growth. Big state-owned bank net profit growth forecast minimum, Shanghai Hongyuan expects an increase of 1.1%; followed by joint-stock banks, expected an increase of 5.7%; City commercial banks grew by 13.6%. Specific to the Bank, ping an securities believes that the growth rate of China Merchants Bank, Societe Generale, Bank of Nanjing performance top.

    Bank of expected and actual performance or will not be much difference. City firms are also clear on the Shanghai newspaper said its earnings for the first half of this year growth will fall within the 10%-20% range.

    narrowed the earnings growth in the past two years become the norm, landing to the microscopic effects, many bankers ' response revenue declining, many market participants and banking community that Bank's best days are a thing of the past.

    "branch has a performance for two years. "Shanghai daily reporter said people in the joint-stock Bank, one of the most important reasons for this is because the downside pressures, increased erosion of the bad assets at a profit.

    Shen Wan macro source of Institute reported also clear think bad added still in rose trend is profit growth slowed of most important reasons, is expected to first half of listed Bank added back verification Hou of bad production into rate chain slightly rose, led bad loan rate chain rose 8bps to 1.41%, bad loan balance chain rose 11%, and credit cost continued high enterprises on first half of listed Bank profit contribution for negative 8.5%. Ping an's observation also shows into the 2 quarters, continued down the real economy, real bad on the rise has not eased, and the banks of bad continues to trend to the proliferation of large and medium enterprises.

    another reason affecting profit Central Bank cut interest rates several times since last November led to spreads narrowed further compress profit margins. Since November last year, the Central Bank amounted to deposit and loan interest rates reduced by 4 times, which cut asymmetric rate cuts last November, lending rates have fallen 0.4%, deposit rates down 0.25%. Shen Wan Hong Yuan is expected today listed banks net interest margin to 2.43% in the first half, up and down the chain fell by 9bps and 6bps respectively.

    growth still is the main contribution to profit growth, financial institutions in the first half of this year Yuan lending to the real economy increased 6.59 trillion yuan, compared with increased 874.2 billion yuan; Shen Wan Hong Yuan is expected to listed banks interest-bearing assets continued to grow steadily in the first half, compared with growth of about 11.5%.

    has a positive effect on performance of intermediate business income. 16 listed banks a quarter fee income rose 9%, ping an securities believes that the first half of the listed banks finance intermediate business income, private line and other dealers products has exceeded expectations, industry fees growth is expected to improve slightly to 12%.

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