A股上市银行2024年度"红包"持续落地！ 今年7月以来，A股上市行迎来分红高峰期。7月14日，"分红大户"工商银行去年全年总派息 额约1097.73亿元，位居上市行之首；同日，民生银行去年共计派发现金红利总额约84.06亿 元。截至目前，已有三十余家A股上市行完成年度分红，另有数家银行发布分红派息实施公 告。 在2024年度分红密集落地同时，2025年中期分红计划也悄然启动，包括招商银行、沪农商 行、杭州银行、长沙银行、常熟银行等在内的多家上市行提及中期分红事宜。 上市行去年"红包"持续落地， 六大行分红超4200亿 今年7月以来，A股上市银行迎来分红高峰期。 7月14日，工商银行、民生银行同日派发"红包"。其中，工商银行去年全年派发A股现金股 息共计1097.73亿元；民生银行全年共计派发现金红利总额约84.06亿元。 7月11日，招商银行和西安银行两家银行亦在同日派发"红包"。 其中，根据此前的公告，招商银行向全体A股股东每股派发现金红利2.000元（含税），合计 派发现金红利约504.40亿元，其中A股现金红利达412.58亿元；西安银行则向全体股东每10 股派现1元（含税），共计派发现金红利4.44 ...

银行角度看 6 月社融： 信贷增长有所恢复，政府债仍是主要支撑项 银行 证券研究报告/行业点评报告 2025 年 07 月 15 日 | 评级： | 增持（维持） | | 重点公司基本状况 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 简称 | 股价 | | | EPS | | | | | PE | | | 评级 | | 分析师：戴志锋 | | | （元） | 2023A | 2024A | 2025E | 2026E | 2027E | 2023A | 2024A | 2025E | 2026E | 2027E | | | 执业证书编号：S0740517030004 | | 江苏银行 | 11.98 | 1.69 | 1.65 | 1.91 | 2.03 | 2.15 | 7.09 | 7.26 | 6.28 | 5.91 | 5.56 | 买入 | | | | 渝农商行 | 7.51 | 0.94 | 0.99 ...

银行业周报 银行板块周内冲高回落 银行 | 证券研究报告 — 行业周报 2025 年 7 月 15 日 强于大市 按申万一级行业分类标准，银行板块本周下跌 1.00%，上周上涨 3.77%，银 行板块涨跌幅由高到低排名 30/31，较上周排名下降 27 位。个股方面 A 股 42 家银行有 17 家上涨。拉长时间来看，年初至今银行板块涨幅 16.59%，在全 行业中排名第 2，红利仍然是银行的主线，关注银行股投资价值，建议关注招 商银行、农业银行、江苏银行。 ◼ 银行板块和个股表现 本周 A 股银行指数下行，个股方面 A 股 42 家银行有 17 家上涨。按类型 看，截至本周五，国有行平均涨幅为 1.08%，平均 P/B 为 0.74X；股份行 平均涨幅为-0.08%，平均 P/B 为 0.63X；城商行平均涨幅为-0.10%，平均 P/B 为 0.73X；农商行本周平均涨幅 0.44%，平均 P/B 为 0.68X。拉长时 间线看，国有大行在近一个月中涨幅为 8.98%；股份行近一个月涨幅为 9.80%；城商行近一个月涨幅为 6.30%；农商行近一个月涨幅为 4.99%。 本周 15 只在港股上市的 A 股 ...

Group 1 - The current period marks a peak for cash dividends among listed banks in A-shares, with over 30 banks having announced their annual dividends [1] - Industrial and Commercial Bank of China (ICBC) distributed approximately 44.378 billion yuan in cash dividends on July 14, with a per-share dividend of about 0.16 yuan [1] - Other banks such as China Merchants Bank and Agricultural Bank of China have also announced significant cash dividends, with China Merchants Bank distributing around 41.258 billion yuan and Agricultural Bank of China planning to distribute approximately 40.065 billion yuan [1] Group 2 - Several listed banks have indicated intentions for mid-term dividends for 2025, with Changsha Bank planning to distribute dividends based on its net profit, which has totaled 9.373 billion yuan from 2018 to 2024 [2] - The banking sector has shown strong stock performance this year, with several banks experiencing stock price increases exceeding 30% as of July 14 [2] - High dividend yields, with some banks exceeding 4.5%, are contributing to the positive performance of bank stocks, as the average dividend yield of state-owned banks surpasses the yield of 10-year government bonds [2] Group 3 - Multiple brokerages remain optimistic about bank stocks, citing the increasing certainty of insurance capital allocation to bank stocks amid an "asset shortage" [3] - The long-term investment and value investment strategies of insurance capital align with the stable dividend yields and potential for performance improvement in the banking sector [3] - A series of financial policies and structural tools are expected to support the positive accumulation of fundamental factors for banks, indicating a potential performance turning point [3] Group 4 - Some banks have announced share buyback plans, but these have been delayed due to stock price fluctuations and other factors, as seen with Huaxia Bank's announcement regarding its planned share buyback [4] - Chengdu Bank's major shareholders have also postponed their buyback plans due to the stock price exceeding the set upper limit, with the stock reaching a historical high of 20.96 yuan per share [4] - The implementation of buyback plans will depend on future stock price movements and overall market trends [4]

【Fintech周报旨在整合本周最重要的金融科技行业的监管政策、行业动态。】 监管动态 多地紧急敲警钟：警惕稳定币沦为非法集资、诈骗工具 近期，以"稳定币"为代表的数字货币及相关概念引发市场广泛关注，多地监管机构接连发布风险提示， 直指这一新兴概念正被不法分子利用，成为非法集资、诈骗等违法犯罪活动的工具。7月10日，北京市 互联网金融行业协会发文指出，一些不法机构与个人，假借"金融创新""区块链技术""数字经济""数字 资产"等噱头，利用社会公众对新型金融概念认知尚不深入的特点，通过发行或炒作所谓"虚拟货币""数 字资产""稳定币投资项目"等方式，承诺高额回报，诱导公众投入资金参与交易炒作。 7月7日，深圳市防范和打击非法金融活动专责小组办公室也发布类似提示，直指稳定币等数字货币被不 法机构利用为犯罪工具，指出：这类不法机构未经国家金融管理部门依法许可或者违反国家金融管理规 定，不具有公开吸收公众存款的资质。该类机构利用稳定币等新概念进行炒作，编造所谓的"虚拟货 币""虚拟资产""数字资产"等投资项目，公开虚假宣传并吸收公众资金，滋生非法集资、赌博、诈骗、 传销、洗钱等违法犯罪活动。 财政部发布险企长周期考核 ...

Core Insights - The 2025 Global Bank 1000 ranking by The Banker magazine highlights the strong performance of Chinese banks, with Chinese banks occupying the top four positions and regional banks showing significant upward momentum [2][3] Group 1: Ranking Changes - Chinese banks hold 143 positions in the Global 1000, with a total Tier 1 capital of $3.74 trillion, reflecting a year-on-year growth of 5.26% [5][6] - Beijing Bank has risen 2 places to enter the global top 50 for the first time, supported by its Tier 1 capital scale and robust risk control capabilities [2][3] - Jiangsu Bank ranks 56th, climbing 10 places, marking the highest growth among regional banks, while Ningbo Bank and Nanjing Bank rank 72nd and 86th, respectively, with improvements of 8 and 5 places [2][5] Group 2: Drivers of Growth - The rise of regional banks is driven by capital replenishment and differentiated strategies, with Beijing Bank optimizing its capital structure through perpetual bonds and subordinated debt [3][6] - Jiangsu Bank benefits from the Yangtze River Delta integration strategy, achieving over 40% growth in technology loans and launching innovative products like carbon reduction-linked loans [3][6] - Ningbo Bank's digital capabilities are a core competitive advantage, with 70% of approval processes covered by smart risk control systems and 75% of financing conducted online [3][6] Group 3: Industry Trends and Challenges - The rapid growth of regional banks is closely linked to the overall strengthening of Chinese banks, with small and private banks becoming the main drivers of growth [6][7] - The current global low-interest-rate environment poses challenges to banks' net interest margins, necessitating further optimization of asset-liability structures [6][7] - Future recommendations for regional banks include enhancing technology investments and expanding into wealth management and investment banking to reduce reliance on traditional interest rate spreads [6][7]

日前，江苏银行（600919.SH）披露董监高增持进展。截至7月9日，该行董监高累计增持216.48万股， 累计增持金额2427.82万元，占计划增持金额下限的121.39%。 据长江商报记者不完全统计，2025年以来，A股已有苏州银行、成都银行、邮储银行、光大银行等12家 银行重要股东实施增持或已抛出增持计划。 密集增持的背后，上市银行重要股东向市场表明了对未来发展的信心和投资价值认可，银行也成为A股 市场年内热度最高的板块之一。截至7月11日收盘，42家上市银行股价在2025年均实现不同程度的上 涨。其中，江苏银行年内涨幅约为21.4%，表现强劲。 市场人士分析，当前银行股的市净率水平仍然偏低，具备一定的估值提升空间。同时，银行板块低波动 高红利的特征更易获得中长期资金的青睐，银行板块的配置价值吸引力仍将持续。 年内12家上市银行获重要股东增持 根据江苏银行日前披露的公告，截至7月9日，该行高管、部分董事、监事及全行中层以上干部（以下简 称"增持主体"）以集中竞价交易方式累计增持该行股份216.48万股，累计增持金额2427.82万元，占本次 增持股份计划金额下限的121.39%，本次增持计划实施完毕。 ...

这是今年以来机构踊跃调研上市银行的一个缩影。Wind数据显示，今年以来，截至7月12日记者发稿， 共有26家上市银行获机构调研，被调研次数达到230次；这些银行主要为中小银行。常熟银行被调研总 次数最多，宁波银行获调研机构家数最多，成为机构青睐的"人气王"。 稳息差是热点话题 今年以来，从调研频次看，常熟银行、苏农银行、瑞丰银行、宁波银行、杭州银行均获得超20次以上的 调研。其中，常熟银行被调研总次数最多，达33次。获机构调研家数方面，宁波银行最多，为195家； 渝农商行、常熟银行、杭州银行、瑞丰银行紧随其后，均获得超100家机构调研。 近日，江苏银行、苏州银行、苏农银行、宁波银行等多家上市银行发布投资者关系活动记录表，就贷款 投向、息差走势、资本补充等问题与投资者展开交流。 | 开始日期: | 2025-01-01 | I 截止日期: | 2025-07-12 | | | --- | --- | --- | --- | --- | | 序号 | | | | | | | 证券代码 | 训 - | ↓ 被调研農次数 | | | 1 | 601128.SH | 常熟银行 | | 33 | | 2 | 603323 ...

Core Viewpoint - The recent trend of decreasing interest rates for business loans from various banks, including China Merchants Bank, is aimed at reducing financing costs for small and micro enterprises, while also targeting quality customer segments [3][11][12]. Group 1: Interest Rate Trends - China Merchants Bank has introduced a promotional business mortgage loan with an annual interest rate as low as 2.7%, available until September 30 [4][5]. - Other major banks, such as Industrial and Commercial Bank of China and Jiangsu Bank, have also launched business loan products with interest rates reaching or falling below 3% [2][6][7]. - The competitive landscape has led to some banks offering business loans with interest rates as low as 2.2% for certain products [6]. Group 2: Loan Product Characteristics - The business mortgage loan from China Merchants Bank offers a maximum limit of 20 million, with a repayment period of up to 20 years [5]. - The approval process for these low-interest loans is more stringent compared to consumer loans, requiring businesses to meet specific criteria such as maintaining a good credit status and providing operational data [9][10]. Group 3: Market Dynamics and Policy Influence - The decline in business loan interest rates is influenced by both policy guidance aimed at lowering financing costs for the real economy and competitive market pressures [11][12]. - The current monetary policy remains accommodative, with measures like reserve requirement ratio cuts providing banks with lower funding costs, allowing for reduced loan pricing [11]. Group 4: Risks and Strategic Considerations - The trend towards lower interest rates may lead to increased credit risk as banks seek to expand their customer base, potentially impacting asset quality [15]. - Experts suggest that banks should innovate financial products and focus on effective market demand to balance business expansion with asset quality [17].

Core Viewpoint - The "Su Super" league in Jiangsu Province has become a significant platform for insurance companies to enhance brand visibility and engage with younger demographics through sports marketing strategies [1][4][8] Group 1: Market Dynamics - Major insurance companies such as China Ping An, Xinhua Insurance, and China Life Insurance are actively participating in the "Su Super" league, leveraging the event to reshape their brand image and explore new market opportunities [1][4] - The league's popularity has created a competitive environment among financial institutions, aiming to capture the attention of a young and engaged audience [4][8] Group 2: Product Innovations - Insurance firms are developing tailored insurance products for the league, including comprehensive liability insurance and specialized coverage for athletes and spectators [2][3] - China Ping An introduced the "Golden Leg" insurance, providing over 44.6 million yuan in coverage for players, highlighting the trend of creating specific products for sports-related risks [2][3] Group 3: Challenges in Sports Insurance - The sports insurance market in China is still in its infancy, facing challenges such as insufficient risk assessment data and a lack of innovative products [6][8] - Experts emphasize the need for better data collection and risk evaluation models to enhance product offerings and market penetration [6][7] Group 4: Strategic Recommendations - Industry experts suggest that insurance companies should collaborate with sports organizations to create customized insurance solutions and improve service delivery [7][8] - There is a call for the establishment of a dynamic database for sports-related injuries and the development of a comprehensive risk assessment framework [7][8]