3月以来，农业银行紧扣"清朗金融网络守护安心消费"主题，开展了一系列生动鲜活的金融宣教活动， 将金融知识融入日常生活、网络场景与民俗文化之中，让金融知识如春风化雨般浸润人心。 农行云南玉溪通海支行将消保宣教与庆祝"三八"国际劳动妇女节结合起来，以花为媒，在迎春花街上设 置"花艺DIY区"。参与插花活动的消费者将印有消保标语的标签插入花篮中，既体验了插花的乐趣，又 记住了金融风险防范知识。 在宁夏龙创助残就业基地活动室，一场"无声"的反诈宣传正在进行。农行志愿者通过手语向残障人士讲 解典型骗局案例，精准科普金融反诈知识，以实际行动守护特殊群体金融消费安全。 农业银行通过分众化、精准化宣教，将金融安全知识送入千家万户，让风险意识在人们心中生根发芽， 切实守护好群众"钱袋子"。 守正创新共绘消保宣传同心圆 数字赋能织就保障民生服务网 "以前总担心孩子在食堂吃不好，现在打开手机就知道孩子吃了什么，动动手指就能给孩子的饭卡充 值，我们很放心。"在湖北咸宁，学生家长张女士对农行手机银行上的"智慧食堂"功能赞不绝口。为推 动基础金融服务更加快捷方便，农业银行整合线上支付、账户管理等功能，打造"金融+生活"开放服务 生态，在 ...

3月以来，农业银行紧扣"清朗金融网络守护安心消费"主题，开展了一系列生动鲜活的金融宣教活动，将金融知识融入日常生活、网络场景与民俗文化之 中，让金融知识如春风化雨般浸润人心。 数字赋能织就保障民生服务网 "以前总担心孩子在食堂吃不好，现在打开手机就知道孩子吃了什么，动动手指就能给孩子的饭卡充值，我们很放心。"在湖北咸宁，学生家长张女士对农 行手机银行上的"智慧食堂"功能赞不绝口。为推动基础金融服务更加快捷方便，农业银行整合线上支付、账户管理等功能，打造"金融+生活"开放服务生 态，在餐饮、购物、出行、医疗等互联网高频场景中嵌入服务，让便捷金融走进千家万户。 在农行重庆武隆仙女山支行，适老化智能填单一体机搭配AI数字人语音引导，可一键读取、智能填写证件信息。65岁的张大爷一边操作着屏幕，一边自 豪地说"不麻烦别人，自己也能搞定"。在山西、上海、浙江、陕西、甘肃、厦门等地，农行志愿者深入社区，手把手帮助长辈客群使用农行手机银行"大 字版""养老社区"和"语音导航"功能，助力他们跨越"数字鸿沟"。 在2679个县域地区，农业银行"农银惠农云"数字平台为村民提供惠农商机、农产品销售渠道、生产经营管理服务以及定制化信贷 ...

Core Viewpoint - The frequent changes in bank executives since 2025 reflect a deeper logic aimed at promoting high-quality development within the banking sector [2][8]. Group 1: Executive Changes - Zhang Jingke has been officially approved as the new president of Hangzhou Bank as of February 28, 2025, marking a significant leadership change [4]. - The wave of executive changes since 2025 includes major state-owned banks and joint-stock banks, with several banks such as Agricultural Bank of China, Bank of China, and China Construction Bank undergoing leadership transitions [6][7]. Group 2: Performance Metrics - As of the end of 2025, Hangzhou Bank reported total assets of 236.49 billion, an increase of 11.96% year-on-year; total loans of 107.19 billion, up 14.33%; and total deposits of 144.06 billion, rising by 13.20% [5]. - The bank's wealth management subsidiary has over 600 billion in outstanding wealth management products, reflecting a 39% growth compared to the previous year [5]. - The non-performing loan ratio stands at 0.76%, unchanged from the previous year, while the ratios of overdue loans to non-performing loans and overdue loans over 90 days to non-performing loans have decreased by 16.87 and 10.17 percentage points, respectively [5]. Group 3: Underlying Logic of Executive Changes - The banking sector is facing challenges such as rapid financial technology development, intensified market competition, and increasing regulatory requirements, prompting the need for executive changes to facilitate high-quality development [9]. - The shift from a scale-driven to a value-driven model in banking is essential due to adjustments in interest rates and pressures related to deposit migration, necessitating a transformation in profitability and operational logic [9]. - The rapid advancement of financial technology is disrupting traditional banking models, requiring banks to accelerate digital transformation and innovate products and services to meet diverse customer needs [9].

农业银行正以数字金融之力，串联起民生服务的千条线，推动实现"数据多跑路，群众少跑腿"。 成风化人 提升网络风险防范意识 在山东济南泉城路商圈，当地农行为货车司机、网约车司机、外卖员、快递员等新就业群体搭建"金融 加油站"，现场拆解"互联网贷款""高收益承诺"等新骗局。刚送完午餐的骑手小李驻足聆听，"原来骗子 号称的'刷单返利'和正规平台提供的'系统派单'完全是两码事。我一定要认清！" 3月以来，农业银行紧扣"清朗金融网络 守护安心消费"主题，开展了一系列生动鲜活的金融宣教活动， 将金融知识融入日常生活、网络场景与民俗文化之中，让金融知识如春风化雨般浸润人心。 数字赋能 织就保障民生服务网 "以前总担心孩子在食堂吃不好，现在打开手机就知道孩子吃了什么，动动手指就能给孩子的饭卡充 值，我们很放心。"在湖北咸宁，学生家长张女士对农行手机银行上的"智慧食堂"功能赞不绝口。为推 动基础金融服务更加快捷方便，农业银行整合线上支付、账户管理等功能，打造"金融+生活"开放服务 生态，在餐饮、购物、出行、医疗等互联网高频场景中嵌入服务，让便捷金融走进千家万户。 在农行重庆武隆仙女山支行，适老化智能填单一体机搭配AI数字人语音引 ...

银行 报告日期：2026 年 03 月 14 日 信贷投放质量提升 ——银行业周报 20260314 投资要点 ❑ 信贷投放质量提升，有助于银行高质量发展。 ❑ 本周银行板块和个股表现 （1）银行板块好于市场。本周万得全 A 指数下跌 0.48%，银行指数（申万）上 涨 1.39%，位居 31 个申万一级行业第 5 位，判断主要得益于海外地缘冲突持 续，市场风险偏好边际下降，资金流入银行板块进行防御。 （2）国有行表现更强。根据申万二级行业指数，本周国有行、股份行、城商 行、农商行板块分别+0.55%、+1.98%、+1.02%、2.83%。个股方面，涨幅前三 的银行分别是瑞丰银行（+4.67%）、渝农银行（+4.65%）、华夏银行（+4.37%）； 跌幅前三的银行分别是宁波银行（-1.74%）、农业银行（-1.19%）、厦门银行（- 0.94%）。 ❑ 本周行业及个股事件 行业层面：①2 月信贷社融资数据出炉。2026 年 2 月社融新增 2.4 万亿，同比多 增 1461 亿，余额同比增长 8.2%，增速环比持平；人民币信贷新增 9000 亿，同 比少增 1100 亿，余额同比增长 6.1%，增速环比加快 ...

责任编辑：王进和 3月15日金融一线消息，新浪财经"2026年315金融投诉红黑榜"今日揭晓。根据新浪金融曝光台、黑猫投 诉 【下载黑猫投诉客户端】、微博、舆情等各方数据，中国农业银行登上红榜。（点击查看完整榜 单） 责任编辑：王进和 专题：2026年315金融投诉曝光台 3月15日金融一线消息，新浪财经"2026年315金融投诉红黑榜"今日揭晓。根据新浪金融曝光台、黑猫投 诉 【下载黑猫投诉客户端】、微博、舆情等各方数据，中国农业银行登上红榜。（点击查看完整榜 单） 专题：2026年315金融投诉曝光台 ...

从"一日售罄"到多只产品募集超40亿元，一度深受投资者诟病的FOF开年以来持续迎来爆发式发行潮，一 举成为今年公募行业最受瞩目的"明星品类"。 从发行热度、渠道格局到行业规模，FOF基金总规模正式突破3000亿元（注：最新规模采用2025年末规模+新 产品发行规模测算），成为行业发展的重要增长极。不仅点燃市场投资热情，更重塑了公募基金FOF领域的竞 争格局。 一日售罄成常态，FOF发行热度持续飙升 3月14日，3只FOF产品同日发布基金合同生效公告，其中中欧盈欣稳健6个月持有FOF在62天内募集了51.25亿 元，富国智安稳健90天持有FOF在16天内募集了10.97亿元，兴全安养稳健养老一年持有FOF在14天内共募集 3.36亿元。亮眼的募集成绩进一步助推市场热度攀升。 近一周以来，FOF市场迎来结募高峰，爆款产品持续涌现。招商智盈优选6个月持有FOF在3月13日宣布募集 34.13亿元，易方达如意盈泽6个月持有FOF单日募集33.83亿元，再现"一日售罄"的火爆场景。 回顾2026年开年以来的市场表现，FOF的热度一路走高，成为今年"一日售罄"基金中数量最多的品类，截至目 前，全市场已有10只FOF实现单 ...

2 月资金月报： 受季节因素影响，机构资金流出，散户资金流入较多 评级： 增持（维持） 分析师：戴志锋 执业证书编号：S0740517030004 Email：daizf@zts.com.cn 执业证书编号：S0740519050002 Email：dengmj@zts.com.cn 分析师：陈程 | 上市公司数 | 42 | | --- | --- | | 行业总市值(亿元) | 147,098.51 | | 行业流通市值(亿元) | 140,825.95 | 辑：定力和底线思维》2026-03-08 净息差保持平稳，净利润增速转正》 2026-02-22 工》2026-02-14 银行 证券研究报告/行业点评报告 2026 年 03 月 13 日 执业证书编号：S0740525110001 Email：chencheng07@zts.com.cn 基本状况 市场资金：理财、公募规模稳步增长，北向资金持仓市值增加。 请务必阅读正文之后的重要声明部分 报告摘要 分析师：邓美君 银行板块个股表现与资金流向：1）板块表现：2 月份银行板块录得下跌-0.55%，跑 输沪深 300 指数 0.64 个百分点，在 31 ...

Investment Rating - The report maintains a "Recommended" rating for the banking sector, highlighting multiple favorable factors including policy, fundamentals, and capital market conditions [4]. Core Insights - The "14th Five-Year Plan" emphasizes the acceleration of building a financial power, focusing on risk prevention, strong regulation, and promoting high-quality development, which will significantly reshape the banking industry's operating environment, business structure, profit models, and valuation systems [6][9]. - The banking sector is expected to undergo a critical phase of structural adjustment, model transformation, and valuation reshaping, shifting from total expansion to structural optimization to capture incremental business opportunities [4][6]. - The report identifies that the financial services provided by banks will increasingly focus on supporting the real economy, particularly in areas such as technology innovation, green finance, and consumption [13][15]. Summary by Sections 1. Financial Power Enhancement - The "14th Five-Year Plan" outlines the need for a robust central bank system and a comprehensive macro-prudential management framework, aiming to enhance the resilience of the banking system and support stable operations [9][10]. - Systemically important banks are likely to face stricter regulatory requirements, which may increase compliance costs in the short term but will strengthen the banking system in the long run [10][11]. 2. Capital Market Reforms - Continuous deepening of capital market reforms is expected to provide financial support for the banking sector's valuation reshaping, with an emphasis on enhancing the participation of long-term capital [15][4]. - The report notes that the average dividend payout ratio for banks is projected to remain stable at a relatively high level, with significant potential for long-term capital inflows [15]. 3. Differentiated Development - The plan encourages financial institutions to focus on their core businesses and improve governance, which will help reduce homogeneous competition in the banking sector [17][20]. - The optimization of the financial system is expected to enhance the pricing order and improve net interest margins for banks [20][22]. 4. Regulatory and Legislative Enhancements - The report highlights the acceleration of financial legislation, with new laws aimed at enhancing the regulatory framework for the banking sector, including the formulation of a financial law and a financial stability law [22][23]. - Comprehensive financial regulation will focus on preventing systemic risks, particularly in key areas such as real estate and local government debt [22][24].

Investment Rating - The report maintains a "Recommended" rating for the banking industry, indicating a positive outlook on the industry's fundamentals [1]. Core Insights - In February 2026, social financing (社融) increased by 8.2% year-on-year, remaining stable month-on-month, with total new loans growing by 6.0% year-on-year, reflecting strong loan issuance [6]. - The total new social financing in February 2026 was 2.38 trillion yuan, slightly higher than the same period in 2025, primarily due to robust loan issuance [6]. - Corporate short-term and medium-to-long-term loans showed strong growth, with short-term loans increasing by 600 billion yuan and medium-to-long-term loans by 890 billion yuan compared to February 2025 [6]. - The report highlights a trend of "deposit migration," where non-bank deposits grew by 26.13% year-on-year, indicating a shift in asset allocation from deposits to wealth management products [6]. Summary by Sections Recent Performance - The banking sector's performance over the last month shows a 2.1% increase, while the Shanghai and Shenzhen 300 index has seen a 0.2% increase [3]. Key Companies and Earnings Forecast - Several banks are highlighted with their respective stock prices and earnings per share (EPS) forecasts for 2024, 2025E, and 2026E, all rated as "Buy": - Hangzhou Bank (600926.SH): Price 17.16, EPS 2.91 for 2026E [8] - Nanjing Bank (601009.SH): Price 11.18, EPS 1.94 for 2026E [8] - Shanghai Bank (601229.SH): Price 9.87, EPS 1.74 for 2026E [8] - Ningbo Bank (002142.SZ): Price 31.15, EPS 4.76 for 2026E [8] - Industrial and Commercial Bank of China (601398.SH): Price 7.20, EPS 1.03 for 2026E [8]