证券之星消息，10月10日股份制银行板块较上一交易日下跌0.01%，招商银行领跌。当日上证指数报收于3897.03，下跌0.94%。深证成指报收于 13355.42，下跌2.7%。股份制银行板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601916 | 浙商银行 | 3.02 | 1.00% | 187.79万 | 5.66亿 | | 600015 | 半夏银行 | 6.56 | 0.46% | 230.34万 | 15.19亿 | | 600000 | 浦发银行 | 11.84 | 0.34% | - 93.76万 | 11.13亿 | | 000001 | 平安银行 | 11.43 | 0.26% | 108.79万 | 12.44亿 | | 601166 | 兴业银行 | 19.69 | 0.10% | 122.49万 | 24.18亿 | | 666109 | 中信银行 | 7.26 | 0.00% | 61.73万 | 4.50亿 | | 600016 | 民生 ...

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600000 | 浦发银行 | 2067.76万 | 2.16% | 2673.38万 | 2.79% | -4741.14万 | -4.95% | | 601998 | 中信银行 | 889.90万 | 2.52% | -1010.01万 | -2.86% | 120.11万 | 0.34% | | 000001 | 平安银行 | 121.54万 | 0.10% | 505.19万 | + 0.43% | -626.72万 | -0.53% | | 601916 | 浙商银行 | -803.71万 | -1.88% | -773.84万 | -1.81% | 1577.55万 | 3.69% | | 600036 招商银行 | | -1.79亿 | -4.58% | -3701.22万 | -0.95% | 2.16/Z | 5.53% | | 600016 | 民 ...

根据长盛基金管理有限公司（简称："本公司"）与平安银行股份有限公司（简称："平安银行"）签署的 销售协议，自2025年10月9日起，本公司旗下基金增加平安银行为销售机构。具体公告如下： 一、适用的基金 ■ 二、开通业务 自2025年10月9日起，投资者可通过平安银行办理上述基金的申购、赎回、定投等业务。 以平安银行官方网站所示公告为准。 上述基金费率优惠活动的解释权归相关销售机构。优惠活动期间，业务办理的相关规则及流程以销售机 构的安排和规定为准。有关优惠活动的具体规定如有变化，敬请投资者留意其相关公告。 四、投资者可通过平安银行和本公司客服热线或网站咨询具体业务办理事宜。 1、平安银行股份有限公司 客服热线：95511 三、费率优惠活动 公司网站：www.bank.pingan.com 1、费率优惠内容 自2025年10月9日起，投资者通过平安银行手机银行、网银和网点柜台申购或定期定额投资上述适用基 金，享有基金申购费率1折优惠，即实收申购费率＝原申购费率×0.1；原申购费率为固定费用的，则按 原申购费率执行。 适用基金的原申购费率参见各基金的相关法律文件及本公司发布的最新相关公告。 2、费率优惠期限 客服 ...

Core Viewpoint - Recent adjustments by some joint-stock banks to reduce credit card overdraft rates to "0" aim to increase volume by lowering costs [1] Group 1: Credit Card Loan Trends - Credit card loan balances are a key indicator of retail banking customer activity, with recent adjustments reflecting banks' efforts to compete for existing customers during a retail "cold season" [2] - Many listed banks have seen a further expansion of negative growth in credit card loan balances this year, alongside a decline in other retail loan categories such as consumer loans and mortgages [2][4] - Major state-owned banks like Bank of China and Postal Savings Bank reported declines in credit card loan balances of 13.88% and 5.67% respectively, while some joint-stock banks also experienced negative growth [3] Group 2: Overall Retail Lending Environment - The retail lending sector is undergoing an "adjustment period," with 17 out of 42 listed banks reporting a contraction in personal loan balances as of mid-2023 [4] - The contraction in personal housing mortgage loans has been a significant factor, with a reported negative growth of 1.6% in personal housing loan balances at the end of 2023, marking the first decline since 1997 [5][6] Group 3: Retail Loan Risk Assessment - Retail loan risks are on the rise, with the non-performing loan (NPL) ratio for retail loans increasing to 1.23% as of mid-2023, compared to a decrease in corporate loan NPL ratios [9] - Specific segments such as mortgage loans, consumer loans, and credit cards have seen their NPL ratios rise, indicating a challenging environment for retail lending [9][10] - The overall retail loan risk trend remains upward, with banks acknowledging the need for improved risk management practices in response to these challenges [10]

Core Insights - The Chinese banking industry is at a crossroads of new and old risks, with a focus on the evolving asset quality and the impact of retail loan defaults [1][6] - The report from Guosen Securities highlights a 15-year trend of bad debt clearance across various sectors, with a notable shift from corporate loans to retail loans in recent years [1][2] Group 1: Historical Context and Risk Management - The report identifies 2011 as the starting point of the current asset quality cycle, marked by a liquidity crisis in Wenzhou and a peak non-performing loan (NPL) rate of 4.41% [2] - Systemic pressure primarily arose from the manufacturing and wholesale retail sectors, with NPL rates peaking at 7.79% in 2016 and 6.12% in 2018, respectively [2] - Banks proactively reduced their exposure to these sectors and shifted credit resources towards personal loans, particularly housing loans, effectively mitigating corporate asset quality deterioration [2] Group 2: Real Estate Sector Analysis - The real estate sector has become the new focal point for asset quality issues, with corporate loan NPL rates rising from below 1.4% to a peak of 4.42% in 2023, before showing signs of decline [3] - The report suggests that the peak of NPL generation in the real estate sector has passed, largely due to banks' preemptive risk management strategies [3] - Despite the high NPL rates, the overall impact on banks' asset quality is considered manageable due to the relatively low proportion of real estate loans in the total loan portfolio [3] Group 3: Retail Loan Risks - As corporate loan risks recede, retail loan defaults are becoming a central concern, with rising NPL rates across personal housing, consumption, credit card, and business loans [4][5] - The NPL rate for personal housing loans has been increasing since 2021, influenced by adjustments in the real estate market, with no clear signs of stabilization [5] - The rapid rise in NPL rates for personal business loans and a slight rebound in consumption loans are attributed to previous aggressive lending practices and rising household leverage [5] Group 4: Future Outlook and Industry Stability - The report indicates that 2023 marks the end of the current performance downturn cycle, with expectations for improvement in the industry’s fundamentals in 2024 [5] - The 15-year history of risk management in the Chinese banking sector demonstrates a mechanism for maintaining financial stability through phased bad debt exposure and dynamic credit structure adjustments [6] - However, the sustainability of this risk management model is questioned, particularly as banks face rising retail loan risks and the limitations of excess provisions [6]

Core Insights - The ABS market in China saw a total of 1,777 new issuance projects in the first three quarters of 2025, with an issuance scale of 16,336 billion yuan, representing a 17% increase from 14,007 billion yuan in the previous year [6][2]. Market Overview - As of the end of the first three quarters of 2025, the cumulative market size reached approximately 33,810 billion yuan, with credit ABS at 4,017 billion yuan, enterprise ABS at 21,405 billion yuan, ABN at 6,348 billion yuan, and public REITs at 2,040 billion yuan [4]. Credit ABS - In the credit ABS segment, 172 new projects were issued, totaling 1,866 billion yuan, a 2% decrease year-on-year. The largest issuance came from non-performing loans, with 134 projects totaling 634 billion yuan, followed by personal auto loans with 17 projects totaling 536 billion yuan [8][6]. Enterprise ABS - The enterprise ABS market saw 1,127 new projects issued, totaling 9,951 billion yuan, which is a 22% increase compared to the previous year. The largest issuance was in financing lease receivables, with 214 projects totaling 2,163 billion yuan, followed by corporate receivables with 160 projects totaling 1,497 billion yuan [10][6]. ABN - The ABN market had 460 new projects issued, totaling 4,157 billion yuan, marking an 18% increase year-on-year. The largest issuances were in bank/internet consumer loans, with 159 projects totaling 1,415 billion yuan, followed by general small loan receivables with 114 projects totaling 1,038 billion yuan [11][6]. Underwriting Rankings - In the underwriting rankings for the first three quarters of 2025, CITIC Securities led with 390 projects and a total underwriting amount of 1,851 billion yuan, followed by Guotai Junan with 328 projects totaling 1,449.9 billion yuan, and Ping An Securities with 208 projects totaling 1,231.2 billion yuan [15][14]. Detailed Underwriting Performance - In the credit ABS market, China Merchants Securities ranked first with 86 projects totaling 314.4 billion yuan, followed by CITIC Securities with 81 projects totaling 295.2 billion yuan [21][23]. - In the enterprise ABS market, CITIC Securities topped the rankings with 222 projects totaling 1,239.8 billion yuan, followed by Ping An Securities with 182 projects totaling 1,177.4 billion yuan [25][26]. ABN Market Rankings - In the ABN market, China Merchants Securities led with 80 projects totaling 413 billion yuan, followed by Bank of China with 90 projects totaling 356.1 billion yuan [29][30]. Asset Class Rankings - The top three asset classes by issuance scale are bank/internet consumer loans, financing leases, and general small loans, with detailed underwriting statistics available for these categories [33].

Group 1 - The company announced a cash dividend distribution of RMB 2.36 per 10 shares, totaling RMB 4.58 billion, based on a total share capital of 19,405,918,198 shares as of June 30, 2025 [2] - The record date for the dividend distribution is set for October 14, 2025, and the ex-dividend date is October 15, 2025 [2] - The company will not issue bonus shares or convert reserves into share capital during this distribution [2]

（文章来源：证券日报） 证券日报网讯平安银行9月30日在互动平台回答投资者提问时表示，截至2025年6月末，本行普通股股东 总户数为443，583户。 ...

Core Viewpoint - Ping An Bank is actively enhancing its risk management policies and asset quality, demonstrating a stable overall performance in its financial health [2] Group 1: Risk Management - The bank is strengthening its forward-looking risk policy assessments and agile adjustments to manage risks effectively [2] - There is a focus on early warning and resolution of risks associated with existing assets [2] Group 2: Asset Quality - As of June 30, 2025, the non-performing loan (NPL) ratio is 1.05%, a decrease of 0.01 percentage points from the end of the previous year [2] - The NPL generation rate for the first half of the year is 1.64%, down by 0.05 percentage points year-on-year [2] - The provision coverage ratio stands at 238.48%, indicating strong risk compensation capabilities [2] Group 3: Retail Loan Structure - The bank is continuously optimizing the structure of its retail loan assets, leading to a corresponding reduction in impairment provisions [2]

证券日报网讯平安银行（000001）9月30日在互动平台回答投资者提问时表示，2025年上半年，本行净 息差1.80%，较去年同期下降16个基点，主要受市场利率下行、贷款业务结构调整等因素影响。在资产 重新定价及支持实体经济的背景下，预计净息差仍有下行压力，但下行幅度有望趋缓。后续本行将继续 加强资产负债组合管理，精细化定价管理，做好前瞻引导，缓解息差下行。资产端，持续做好大类资产 配置，鼓励优质信贷投放；同时，加强市场研判，灵活动态配置同业资产，提升资金运用效率。负债 端，聚焦引导吸收低成本存款，管控高成本存款，全力控制和降低整体负债成本。 ...