Industry core view:
By the end of 2021, the scale of bank financial management market had reached 29 trillion yuan, a year-on-year increase of 12.14%; A total of 47600 new financial products were issued throughout the year, raising 122.19 trillion yuan of funds and creating nearly 1 trillion yuan of income for investors. Looking forward to 2022, driven by the new regulations and standardized operation of asset management, it is expected that the whole bank financial management market will still achieve rapid growth in 2022. Recently, the banking sector has adjusted. In the medium and long term, we believe that the internal differentiation of the banking sector will continue. It is suggested to pay attention to the banks whose proportion of intermediate business income continues to increase and the banks whose fundamentals continue to improve.
Key investment points:
Market performance: last week, the China Citic Bank Corporation Limited(601998) index fell by 3.68%, the CSI 300 index fell by 1.67%, ranking 23rd among 30 primary industries, and the sector lost 2.01 percentage points to the CSI 300 index. Since the beginning of the year, the banking sector has risen by 3.59% as a whole, ranking second among the 30 primary industries. The CSI 300 index has fallen by 7.43%, and the banking sector has outperformed the CSI 300 index by 11.02 percentage points. In terms of individual stocks, last week’s banking sector, Bank Of Suzhou Co.Ltd(002966) , China Minsheng Banking Corp.Ltd(600016) and Bank Of Qingdao Co.Ltd(002948) fell slightly.
Liquidity and market interest rate: last week, the central bank invested a net 760 billion yuan through open market operation. The actual issuance scale of interbank certificates of deposit was 642.5 billion yuan, with an average coupon rate of 2.51%. The issuance scale and interest rate rebounded slightly.
Industry and company highlights:
Industry highlights:
China wealth management network released the annual report of Bank Of China Limited(601988) financial management market (2021).
Company highlights:
Hua Xia Bank Co.Limited(600015) : 2021 annual performance express was released on February 23.
Risk factors:
If the epidemic repeatedly causes the overall economy to continue to weaken, the enterprise revenue will deteriorate significantly, and the performance of the banking sector will fluctuate.
