数据来源/上市银行公告 制表/石诗语 银行名称 分红派息总额 派发A股现金红利金额 A股现金红利发放日 （亿元） （亿元） 工商银行 503.96 381.23 2025年12月15日 建设银行 486.05 39.36 2025年12月11日 农业银行 418.23 381.5 2025年12月15日 中国银行 352.50 261.02 2025年12月11日 邮储银行 147.72 未披露 未披露 交通银行 138.11 未披露 未披露 ...

Core Viewpoint - The mid-term dividend announcements from major Chinese banks reflect a robust financial performance and a commitment to shareholder returns, with a total proposed payout exceeding 2,600 billion yuan across 26 listed banks, indicating a trend towards higher dividends in the banking sector [1][2][4] Group 1: Major Banks' Dividend Announcements - Industrial and Commercial Bank of China and Agricultural Bank of China announced mid-term dividends of 503.96 billion yuan and 418.23 billion yuan respectively, with both distributing over 300 billion yuan in cash dividends [1] - The six major state-owned banks are the primary contributors to the dividend payouts, collectively proposing cash dividends of 2,046.57 billion yuan, accounting for over 70% of the total disclosed dividends [1] - The dividend payout ratio for these major banks remains stable at around 30%, continuing their tradition of high and stable returns [1] Group 2: Participation of Other Banks - Industrial Bank introduced its first mid-term dividend plan, proposing a payout of 119.57 billion yuan, which is 30.02% of its net profit for the first half of 2025 [2] - Other regional banks, such as Ningbo Bank and Changsha Bank, have also joined the mid-term dividend initiative, indicating a growing trend among smaller banks [2] - Chongqing Bank plans to distribute cash dividends of 5.85 million yuan, representing 11.99% of its net profit attributable to ordinary shareholders [2] Group 3: Regulatory and Market Influences - The expansion of mid-term dividends among listed banks is driven by regulatory policies, solid operational fundamentals, and market demand [2] - Recent policies encourage banks to optimize their dividend strategies, with the new "National Nine Articles" emphasizing cash dividend regulations and incentivizing high-dividend companies [2] - The Shanghai Stock Exchange is actively promoting higher dividend payouts and increased frequency to enhance company valuations [3] Group 4: Market Reactions and Future Outlook - The banking sector has shown stable performance since November, with high-dividend stocks attracting investor interest, suggesting that current valuations do not fully reflect their intrinsic value [3][4] - The implementation of mid-term dividends is seen as a signal of financial strength and a strategy to attract long-term capital, creating a positive cycle of management, returns, and valuation recovery [4] - Analysts believe that the increased dividend payouts and stock buybacks will stabilize market expectations and highlight the long-term investment value of bank stocks [4]

Core Insights - The awards for financial bond underwriting and market-making have been announced, recognizing various banks and securities firms for their outstanding performance in the industry [1][2][3][4][5][6][7] Group 1: Outstanding Underwriters - The title of "Outstanding Underwriter" was awarded to several banks, including CITIC Bank, Shanghai Pudong Development Bank, and Industrial and Commercial Bank of China [1][2] - A total of 10 banks were recognized as "Excellent Underwriters," highlighting their contributions to the financial bond market [1] Group 2: Excellent Market Makers - The "Excellent Market Maker" category included firms such as Huatai Securities and CITIC Securities, showcasing their role in enhancing market liquidity [2][4] - A diverse range of banks, including Ping An Bank and Industrial Bank, were acknowledged for their market-making capabilities [2][4] Group 3: Special Awards - Special awards were given for various categories, including "Debt Sea Rising Award" and "Green Low Carbon Award," recognizing banks like Agricultural Bank of China and Postal Savings Bank of China for their innovative approaches [3] - The "Technology Innovation Award" was awarded to banks that demonstrated significant advancements in financial technology [3] Group 4: Individual Recognitions - Individual awards were presented to key personnel from various banks, such as CITIC Bank's Sun Wei and China Everbright Bank's Liu Yan, acknowledging their leadership in driving financial bond initiatives [4][5] - The "Outstanding Underwriting Supervisor" category highlighted individuals from major banks, emphasizing the importance of leadership in underwriting processes [5]

工商银行、农业银行定于12月15日进行A股派发：工商银行每股派发现金红利0.1414元，A股派发现金红利共计约381.23亿 元；农业银行每股派发现金红利0.1195元，A股派发现金红利共计约381.5亿元。 本报记者 彭妍 近日，多家国有大行陆续公告2025年中期分红派息方案，并相继落地实施。作为上市银行中期分红的"主力军"，国有六大 行本次中期现金分红总额预计超2000亿元，分红比例均维持在归母净利润的30%水平，且多家银行将于12月份进行派发。 南开大学金融学教授田利辉在接受《证券日报》记者采访时表示，国有大行实施中期分红既是资本市场高质量发展的标志 性事件，也是今年上市银行经营稳健、现金流充裕的直接体现。此举向市场传递了"经营有方、回报有信"的积极信号，有利于 增强投资者信心，促进资本市场健康发展，为"业绩稳健、分红提升、估值修复"的良性循环注入新动力。 多家银行于本月分红 据此前半年报及相关公告披露，国有六大行2025年中期现金分红金额合计达2046.57亿元，其中工商银行以503.96亿元位居 首位，建设银行、农业银行紧随其后，分别达486.05亿元、418.23亿元；中国银行、邮储银行和交通银行 ...

Report Summary 1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report - Among the bonds with discounted transactions, "24 Zhonghua MTN004" had a relatively large deviation in valuation price; among the bonds with rising net prices, "25 ABC Tier 2 Capital Bond 01B(BC)" had a relatively large deviation in valuation price; among the second-tier perpetual bonds with rising net prices, "25 ABC Tier 2 Capital Bond 01B(BC)" had a relatively large deviation in valuation price; among the commercial financial bonds with rising net prices, "25 ABC TLAC Non-capital Bond 02C(BC)" had a relatively large deviation in valuation price. Real estate bonds ranked high among the bonds with a transaction yield higher than 5% [2]. - The changes in credit bond valuation yields were mainly distributed in the [-5,0) range. The transaction terms of non-financial credit bonds were mainly distributed between 2 and 3 years, with the highest proportion of discounted transactions in the 4 - 5 year variety; the transaction terms of second-tier perpetual bonds were mainly distributed between 4 and 5 years, with the highest proportion of discounted transactions in the within-1-year variety. In terms of industries, the bonds in the national defense and military industry had the largest average deviation in valuation price [2]. 3. Summary According to Relevant Catalogs 3.1 Discounted Transaction Tracking - The report tracked the discounted transactions of multiple bonds, including "24 Zhonghua MTN004" with a residual term of 28.65 years, a valuation price deviation of -0.34%, and a transaction volume of 18.58 million yuan; "24 Chanrong 08" with a residual term of 3.35 years, a valuation price deviation of -0.30%, and a transaction volume of 3.29 million yuan, etc. [4]. 3.2 Tracking of Bonds with Rising Net Prices - The report tracked the transactions of bonds with rising net prices, such as "25 ABC Tier 2 Capital Bond 01B(BC)" with a residual term of 9.53 years, a valuation price deviation of 0.29%, and a transaction volume of 539.4 million yuan; "25 ABC Tier 2 Capital Bond 02B(BC)" with a residual term of 9.63 years, a valuation price deviation of 0.27%, and a transaction volume of 916.26 million yuan [5]. 3.3 Tracking of Second-tier Perpetual Bond Transactions - The report tracked the transactions of second-tier perpetual bonds, including those of state-owned banks, joint-stock banks, and city commercial banks. For example, "25 ABC Tier 2 Capital Bond 01B(BC)" of state-owned banks had a residual term of 9.53 years, a valuation price deviation of 0.29%, and a transaction volume of 539.4 million yuan; "21 Industrial Bank Tier 2 03" of joint-stock banks had a residual term of 5.96 years, a valuation price deviation of 0.12%, and a transaction volume of 108.07 million yuan [7]. 3.4 Tracking of Commercial Financial Bond Transactions - The report tracked the transactions of commercial financial bonds, such as "25 ABC TLAC Non-capital Bond 02C(BC)" with a residual term of 9.66 years, a valuation price deviation of 0.17%, and a transaction volume of 48.68 million yuan; "25 Nanjing Bank Bond 01BC" with a residual term of 2.78 years, a valuation price deviation of 0.06%, and a transaction volume of 250.01 million yuan [8]. 3.5 Tracking of Bonds with a Transaction Yield Higher than 5% - The report tracked the bonds with a transaction yield higher than 5%, mainly including real estate and non-financial bonds. For example, "21 Vanke 02" in the real estate industry had a residual term of 0.12 years, a valuation price deviation of 22.72%, and a transaction volume of 25.76 million yuan; "23 Chanrong 04" in the non-financial industry had a residual term of 0.20 years, a valuation price deviation of -0.01%, and a transaction volume of 10.16 million yuan [9]. 3.6 Distribution of Credit Bond Transaction Valuation Deviations - The changes in credit bond valuation yields were mainly distributed in the [-5,0) range [2]. 3.7 Distribution of Non-financial Credit Bond Transaction Terms - The transaction terms of non-financial credit bonds were mainly distributed between 2 and 3 years, with the highest proportion of discounted transactions in the 4 - 5 year variety [2]. 3.8 Distribution of Second-tier Perpetual Bond Transaction Terms - The transaction terms of second-tier perpetual bonds were mainly distributed between 4 and 5 years, with the highest proportion of discounted transactions in the within-1-year variety [2]. 3.9 Proportion of Discounted Transactions and Transaction Volume of Non-financial Credit Bonds in Each Industry - The bonds in the national defense and military industry had the largest average deviation in valuation price [2].

Group 1 - The core viewpoint of the article highlights that the Industrial and Commercial Bank of China (ICBC) Nanjing Lishui Zhongdajie Branch has officially joined the ranks of military-supporting enterprises, becoming the first bank in Lishui District to do so, thereby injecting new financial momentum into the district's military support work [1][2] - The ICBC branch has established a detailed military support commitment, offering "priority, quality, and preferential" services to active military personnel, veterans, and various preferential groups, including dedicated "military support counters" and a specialized green channel for expedited service [1] - Financial incentives include waiving account opening fees and annual fees, as well as offering "military-exclusive fixed deposits" with interest rate increases and "military financial products" tailored to risk preferences, along with priority loan approvals and interest rate reductions [1] Group 2 - In recent years, Lishui District has upheld the tradition of "the military loves the people, and the people support the military," continuously expanding military support initiatives, including military-supporting enterprises and canteens [2] - The addition of the ICBC branch enriches the financial support services for the military and sets a living example of social participation in military-civilian cooperation [2] - Future plans include broadening military support channels and enriching service content, with efforts to attract more quality enterprises and merchants to join the military support team, enhancing the sense of gain and respect for military personnel and their families [2]

指尖划过键盘，发出清脆的声响。窗外梧桐叶已黄了三次，而我在工商银行的柜台，也悄然完成了一轮 寒暑交替。在柜台与大堂之间穿梭流转的一年多，仿佛像一部快进的电影，每一帧都写满了与客户相遇 的故事。从现金柜台的严谨细致，到对公柜台的专业担当，再到大堂经理的统筹协调，这三重角色的历 练，让我对"服务"二字的理解，从一张白纸变得立体而丰盈：真正的服务，从来不只是流程的精准执 行，而是在方寸之间的柜台上，读懂人心的温度。 一年多的时光，白驹过隙，但我对服务的求索之路才刚刚开始。每一次真诚的服务，都可能成为别人困 境中的一束光；而每一次专业的付出，都在为这座金融大厦添砖加瓦。每日的工作不是冰冷的交易，而 是有温度的连接。我愿继续做这样一个连接者——在方寸之间，传递工行温度，在日复一日的迎来送往 中，既做规则的守护者，更做温暖的传递者。 记得第一次坐上现金柜台时，我把所有注意力都放在"不要出错"上，存取款凭证需客户亲笔签名，大额 现金必须双人复核。这些规则像无形的栅栏，把我牢牢圈在安全区内。直到一个午后，一位老人攥着存 折来取款，我按流程提醒他输入密码，他却窘迫地说："姑娘，我记不清了。"看着他泛红的耳根和微微 颤抖的手，我 ...

该行大堂经理迅速反应，上前安慰该客户，并明确表示一定会帮助她完成兑换。随后，大堂经理与柜台 工作人员快速联动，分工合作，高效完成了3000余枚硬币的清点和兑换工作。整个过程井然有序，客户 的担忧也随之烟消云散。 该行始终秉承"以客户为中心"的服务理念，用实际行动诠释了工商银行的责任与担当。此次事件不仅展 现了支行员工的专业素养和团队协作能力，也进一步提升了客户对工商银行的信任和满意度。未来，该 行将继续以优质的服务回馈社会，为客户提供更加便捷、贴心的金融服务。 客户对该行工作人员的高效服务和贴心关怀表示由衷的感谢。在等待兑换的过程中，网点工作人员还主 动向该客户普及了相关的金融知识，包括如何识别真假币、如何安全保管现金等实用内容。同时，工作 人员还向她介绍了当前银行的存款理财业务，帮助她更好地管理个人财务。该客户对网点的服务表示非 常感激，并连连称赞："没想到银行的服务这么贴心，真的解决了我的大问题！"该客户表示，这次经历 让她感受到了工行的专业和温暖，也更加坚定了她对工行的信任。 江南时报讯 近日，南通临江支行迎来了一位特殊的客户，客户因工作需要携带大量硬币来到网点，希 望能够兑换成纸币。陆女士是某超市的工 ...

在工作人员的配合劝说下，客户最终接受了存款建议。离开时，王先生对网点的处理方式表示满意。与 此同时，大堂经理也妥善安抚了李女士，厅堂秩序恢复正常。 大堂经理、运营主管发现情况后，立即上前劝解，将双方隔开。运营主管将情绪更为激动的客户引导至 相对安静的理财室，耐心倾听其抱怨，大堂经理则安抚另一客户，为其递上茶水，并就等候不便致以歉 意。 业务繁忙时，厅堂间避免不了客户的抱怨，作为厅堂服务人员，要快速响应，针对不同客户的情绪状态 采取个性化的安抚策略，防止事态升级。要分工协作，通过团队联动做好应急处理，强化与客户的沟 通，挖掘并满足客户的深层金融需求，实现危机下优质服务的营销。 江南时报讯 一日业务高峰时段，工行南通港闸支行营业室客户等候区一客户因等候时间较长，显得焦 躁不安，其接听电话时音量过大，引起了邻座客户的不满。双方由言语摩擦迅速升级为激烈争吵，场面 一度混乱。 在理财室内，运营主管在倾听王先生倾诉的过程中，了解到其今日前来本意是办理一笔十万元到期存单 的转存业务，但因久候及争执，对网点服务深感失望，已决定取款后将资金转至他行。运营主管先对王 先生的感受表示充分理解，并诚恳解释了高峰时段客流增大的客观情况 ...

Core Insights - The digital transformation of China's banking industry is entering a "deep water zone" by 2025, characterized by market expansion, technological upgrades, and intensified competition [1] - The IT investment in the banking sector is projected to reach 169.315 billion yuan in 2024, with a growth rate of 3.6%, and is expected to exceed 266.2 billion yuan by 2028 [1] - The digital bidding landscape shows that successful digitalization in banking relies not only on investment scale but also on precise alignment with the bank's positioning and strategic partnerships [1] Investment Trends - In 2024, the six major state-owned commercial banks are expected to invest a total of 125.459 billion yuan in fintech, accounting for 52% of the total banking sector investment [2] - By 2025, the banking sector's fintech investment is anticipated to reach 333.85 billion yuan, representing a 38% increase from 2024 [2] Bank Types and Investment Focus - State-owned banks are leading in digital investment, with major banks like ICBC planning to invest 285.18 billion yuan in fintech in 2024, while smaller banks are focusing on localized services and specific pain points [3][5] - The investment focus for state-owned banks includes large model development, data platforms, and intelligent risk control systems [3] - Regional banks are prioritizing local economic services and optimizing processes for small and medium enterprises, with some banks investing over 6% of their revenue in technology [5] Digital Bidding Characteristics - The digital bidding projects are categorized into four main tracks: risk management, compliance control, data services, and technology platforms, each with varying technical requirements and budget allocations [7][8] - Risk management projects are rated the highest in complexity, requiring a deep understanding of financial logic and AI technology [7] - Compliance control projects are driven by regulatory requirements and have a high degree of standardization, making them easier to replicate [7] Competitive Landscape - A dual-competitive landscape is emerging between bank technology subsidiaries, which excel in understanding financial regulations, and internet technology companies, which leverage general technology capabilities [10][11] - The collaboration between bank technology subsidiaries and internet technology companies is becoming a mainstream approach, combining business understanding with technological innovation [17] Future Outlook - The investment landscape is expected to become more differentiated, with large banks focusing on systematic construction while smaller banks target essential local needs [18] - The emphasis will shift towards practical technologies that address compliance issues and enhance operational efficiency, with a growing trend of collaboration between different types of technology providers [18]