After the city commercial bank, the first listed joint-stock bank and the first listed agricultural and commercial industry performance express have appeared one after another!
On January 10, Industrial Bank Co.Ltd(601166) disclosed that the 2021 annual performance express showed that last year, the bank realized a net profit attributable to the shareholders of the parent company of 82.68 billion yuan, a year-on-year increase of 24.1%, a nine-year high.
Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) then released a performance express, saying that last year, the bank realized a net profit attributable to shareholders of 1.15 billion yuan, a year-on-year increase of 20.7%, the highest increase in a decade.
Prior to this, Bank Of Chengdu Co.Ltd(601838) issued a performance pre increase announcement on January 4. It is preliminarily expected that the annual net profit attributable to shareholders will increase by 18% to 25% year-on-year, which is also expected to reach the highest performance growth rate in recent years.
It is worth noting that the performance "pre joy" of the first listed urban commercial banks has driven the banking sector to rise by nearly 3.3% in the beginning of the year. Where will the first performance express of joint-stock banks and agricultural commercial banks take the banking sector? The opening on January 11 remains to be seen.
Societe Generale's first report card: net profit growth hit a nine-year high
in the first year of "new handsome" Lv Jiajin at the helm, Industrial Bank Co.Ltd(601166) handed over the best "report card" in recent nine years.
The performance express shows that in 2021, the bank's operating revenue was 221.24 billion yuan, a year-on-year increase of 8.9%, and the net profit attributable to the shareholders of the parent company was 82.68 billion yuan, a year-on-year increase of 24.1%. From 2013 to 2020, the annual profit growth of the bank never exceeded 20%.
Even compared with the first three quarters, the bank's two performance growth indicators last year also improved month on month. It is estimated that in the fourth quarter of 2021, the bank's single quarter operating revenue and net profit increased by 11.4% and 26.4% year-on-year respectively.
By the end of last year, Industrial Bank Co.Ltd(601166) total assets had reached 8.6 trillion yuan, an increase of nearly 9% over the beginning of the year. Among them, the total loans increased by 11.7% over the beginning of the year to 4.43 trillion yuan, and the proportion of loans in total assets rose to 51.5%.
At the same time, the bank's deposit increment in the fourth quarter exceeded 100 billion, the highest in nearly six quarters. At the end of last year, Industrial Bank Co.Ltd(601166) deposits totaled about 4.31 trillion yuan, an increase of 6.6% over the beginning of the year.
In terms of asset quality, by the end of last year, the balance of Industrial Bank Co.Ltd(601166) non-performing loans was about 48.7 billion yuan, a decrease of nearly 1 billion yuan over the beginning of the year, but rebounded from the end of the third quarter.
Although the trend of "double decline" of non-performing loans for several consecutive quarters was ended, the bank's non-performing loan ratio fell to 1.1% at the end of last year, the best level in recent seven years. In addition, the bank's provision coverage increased by 50 percentage points to nearly 270% compared with the beginning of the year, and its risk offset ability continued to increase.
It is worth noting that Industrial Bank Co.Ltd(601166) has recently completed the issuance of 50 billion yuan of convertible bonds. Zheshang Securities Co.Ltd(601878) according to the research report, based on the static calculation of the data at the end of the third quarter, if convertible bonds are converted into shares, the bank's core tier 1 capital adequacy ratio can be increased by 0.82 percentage points to 10.36%.
the profit growth rate is not 20%. Sorry to say hello?
In addition to Industrial Bank Co.Ltd(601166) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) also released its performance express on January 10, becoming the first listed rural commercial bank to release its 2021 annual performance express.
According to the disclosure, Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) achieved an operating revenue of 3.82 billion yuan last year, with a year-on-year increase of 1.8%, and realized a net profit attributable to shareholders of 1.15 billion yuan, with a year-on-year increase of 20.7%. The growth rate of net profit was the highest in recent ten years.
By the end of last year, Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) assets had reached 160 billion yuan, an increase of 13.6% over the beginning of the year, of which loans accounted for more than 60%, retail loans accounted for more than 1 / 4, and deposits increased by nearly 15%.
In terms of asset quality, Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) is consistent with the overall trend of Industrial Bank Co.Ltd(601166) . According to the performance express, Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) has achieved a "double drop" in non-performing loans for three consecutive quarters. At the end of last year, the non-performing loan ratio fell sharply to 1%, and the provision coverage increased for six consecutive quarters to 411%, ranking the leading level of listed banks.
Before Industrial Bank Co.Ltd(601166) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , the Bank Of Chengdu Co.Ltd(601838) located in the southwest issued a performance pre increase announcement on January 4. The bank expects to achieve a year-on-year increase of 18% to 25% in net profit attributable to shareholders last year.
For the pre increase of performance, Bank Of Chengdu Co.Ltd(601838) can be attributed to three reasons: first, the asset scale is growing steadily, the customer deposit funds form a strong guarantee in supporting the scale growth, and the asset liability structure remains stable; Second, the credit business expanded well, and the proportion of total loans in assets further increased; Third, cost control measures are effective, and the cost income ratio is maintained at a low level.
"are you embarrassed to say hello without 20% profit growth?" Some investors expressed concern about this.
According to the data disclosed by the CBRC in mid November, in the first three quarters of 2021, commercial banks achieved a cumulative net profit of 1.7 trillion yuan, an increase of 11.5% year-on-year; The non-performing loan ratio fell for four consecutive quarters to 1.75%, and the provision coverage ratio rose to 197%.
the market of banking sector in January is "windy"
Compared with the decline in 2021, the attention of the listed banking sector increased significantly in 2022.
Thanks to the "pre joy" of Bank Of Chengdu Co.Ltd(601838) performance, the A-share banking sector rose against the trend in the five trading days of the beginning of the year, with a cumulative increase of nearly 3.3%, outperforming the market, and the sector recovered significantly.
Among them, Postal Savings Bank Of China Co.Ltd(601658) , Bank Of Chengdu Co.Ltd(601838) has increased by nearly 10% year to date, followed by Industrial Bank Co.Ltd(601166) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , with an increase of about 8.4% and 7.2% respectively.
In addition, the plate activity increased significantly. In the first week of 2022, the average daily turnover of A-share bank shares reached 22 billion yuan, an increase of 54% over the previous week. The average daily turnover of A-share bank shares was the highest in nearly four months. The net inflow of funds from the bank sector northward in a single week was also close to 4 billion yuan.
In this regard, Everbright Securities Company Limited(601788) chief banking analyst Wang Yifeng released a report that the banking sector is expected to remain strong in the coming period: first, the real estate risk is gradually mitigated, and the market pessimistic expectation is in the process of repair; Second, the key to steady growth lies in "steady investment", which requires "wide credit", and the market has expectations for "wide credit"; Third, the preference of funds for undervalued sectors increased, and bank stocks usually performed well in the beginning of the year.
Most banks have performed well in recent ten years; Especially in January, excluding 2020 affected by the epidemic, the winning rate of relative income recorded by the banking sector was as high as 90%.
Haitong Securities Company Limited(600837) Lin Jiali, chief analyst of the banking industry, analyzed the sustainability of the market of bank stocks in January. He believed that many of the benefits to commercial banks at the end of last year were not fully reflected in the stock price, because the willingness of institutions to adjust positions at the end of the year was weak and the willingness to adjust positions at the beginning of the year was strong. At the same time, Lin Jiali believes that the banking sector itself has a seasonal law. It performs better in January and relatively poor in February, and then it will recover in March and April.
(source: China Securities Company)
