Core Insights - The report by Kantar identifies the fastest-growing retail banks globally, highlighting a shift in brand perception and potential future value creation, with Brazilian, Japanese, and South African banks leading the list, while traditional giants like HSBC and JPMorgan are absent [1][2]. Group 1: Rankings and Key Players - The top three banks in the ranking are Nubank (Brazil), Capitec (South Africa), and Rakuten Bank (Japan), showcasing innovative approaches to banking in their respective markets [2]. - Nubank, established in 2013, revolutionized the market with a free credit card managed via an app, addressing issues of financial exclusion and high fees [2]. - Capitec stands out for its simplified banking model, offering core services through a single account, enhancing convenience and transparency [2]. - Rakuten Bank leverages artificial intelligence to recommend products based on customer history and integrates with social applications for easy transfers [2]. Group 2: Performance of Traditional Banks - European banks performed poorly in the rankings, with only Air Bank from the Czech Republic making it into the top ten, indicating a struggle for traditional banks to regain consumer trust post-2008 financial crisis [2]. - Experts note that large banks have faced negative perceptions due to past scandals, leading to a belief that they prioritize profits over social responsibility [2]. Group 3: Chinese Banks' Position - The inclusion of Industrial and Commercial Bank of China (ICBC) at 22nd and Bank of Ningbo at 33rd indicates China's growing competitiveness in brand building and customer recognition on the global stage [1][2]. - ICBC's efforts in digital transformation and customer service have been acknowledged, while Bank of Ningbo's entry reflects the advancements of smaller Chinese banks in operational refinement and brand development [2]. Group 4: Industry Context - The release of this ranking coincides with significant changes in the global banking industry, where traditional banks face challenges in rebuilding customer trust and adapting to digital transformation [6][7]. - For Chinese banks, this ranking serves as both recognition and a warning, emphasizing the need to enhance brand strength and focus on digitalization, customer experience, and social responsibility to secure long-term customer trust [7].

以下文章来源于妙投APP ，作者刘国辉 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 出品 | 妙投APP 作者 | 刘国辉 编辑 | 关雪菁 头图 | AI生图 今年的市场高光，在那些有锐度和进攻性的基金经理之上。这是由于科技板的巨大上涨所带来。由此，成长风格基金经理因此业绩翻身，重仓 AI算力、创新药的基金中，已经出现多个年内收益翻倍的产品。 而深度价值型的基金经理通常是风险厌恶型的。他们非常注重安全边际，基本不买热门股，通过挖掘低估值、竞争力足够强、格局足够稳的行业 和公司，来强化投资的安全性。其收益的特征是牛市里涨得少，熊市里更抗跌，长期下来收益往往不比多数成长风格基金经理差。 过去三年熊市里，深度价值基金经理普遍表现较好，管理规模上了百亿的也不少。其中鲍无可、丘栋荣更是成了行业顶流，功成名就后觉得公募 庙小，已经离开了公募行业。 今年的牛市里，深度价值基金经理基本都跑输了行业平均水平。 截止9.24日，主流的深度价值基金经理如徐彦，姜诚、赵晓东等，在管产品大多年内收益在20%以下，能超过30%的产品凤毛麟角。而中证主动 偏股基金指数年内收益达到了34 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 基金管理人：中航基金管理有限公司 基金托管人：宁波银行股份有限公司 重要提示 1、中航月月鑫30天持有期债券型证券投资基金（以下简称"本基金"）已获中国证监会证监许可 [2025]971号文注册募集。 2、本基金的基金管理人和登记机构为中航基金管理有限公司（以下简称"本公司"），基金托管人为宁 波银行股份有限公司（以下简称"宁波银行"）。 3、本基金为债券型证券投资基金，基金运作方式为契约型开放式，30天持有期。 投资者在开放日办理基金份额的申购；本基金对每份基金份额设置30天的最短持有期，即自基金合同生 效日（对认购份额而言，下同）、基金份额申购确认日（对申购份额而言，下同）或基金份额转换转入 确认日（对转换转入份额而言，下同）起至基金合同生效日、基金份额申购确认日或基金份额转换转入 确认日起的第30天（即最短持有期到期日，如该日为非工作日，则顺延至下一工作日）止的期间，在每 份基金份额的最短持有期到期日前（不含当日），投资者不能办理该基金份额的赎回及转换转出业务， 自每份基金份额的最短持有期到期日起（含当日），投资者可在开放日办理该基金份额的赎回及转换转 ...

科技金融作为"五篇大文章"之首，是银行等金融机构顺应时代趋势，主动去拥抱的业务板块。 跟随大中型银行的步伐，当前不少城农商行纷纷打出了发展科技金融的旗帜。需思考的是，囿于实力限制，区 域银行发展科技金融是否只是一个口号？ 农商行探索科技金融 凭借资金规模、人才等优势，国有大行、股份行这两年迅速在顶层设计、产品开发、金融服务等多维度布局科 技金融，并取得了明显成效。 相比之下，以城农商行为代表的中小银行，受到资金、人才和客户基础等方面的限制，该项业务的发展步伐相 对较慢，但它们并不退缩。 从近期上市银行半年报观察，与大中型银行动辄上万亿元的科技贷款规模相比，中小银行科技金融贷款规模都 较小，且客户覆盖量也较低，然而发展速度并不落后。 10月3日，浙江农商联合银行披露，自浙江农商联合银行在嘉兴启动科技金融试点以来，各行社经一年多的深 入实践，形成了一批特色服务模式。到今年8月末，嘉兴地区农商银行科技企业贷款占对公贷款比重超过 30%，服务覆盖科创企业7200户，覆盖面达70%。 嘉兴辖内的多家县域农商行在机制建设方面已逐步探索出轮廓。 根据浙江农商联合银行介绍，禾城农商银行增设了科技专营机构、组建专项专班；海盐农 ...

核心结论：不要低估我国经济韧性，银行估值修复空间大 Ø 全球视角，银行板块投资核心是宏观经济，优质银行个股具备较好中长期投资价值；精选个股往往需要结合经济结构、市场环境、政策 监管等多种因素。 请务必阅读正文之后的免责声明及其项下所有内容 • 银行指数视角：（1）美国和印度的银行指数PB估值持续处在较高水平，且美国和印度的银行指数在过去十年不同阶段均取得了不错的 绝对收益，主要是两国经济增长延续强劲增长态势，但2020年以来的行情中两国银行指数都没有超额收益。（2）日本和欧洲的银行指数 在2015-2019年表现欠佳，但2021年以来获得了不错的绝对收益和超额收益，主要是政策刺激下日本和欧洲走出零利率/负利率时代，经 济呈现出复苏态势，当前日本和欧洲银行指数PB值分别为1.08x和1.26x。（3）韩国银行指数PB值常年处在0.5x之下，2024年底以来有所 修复，当前PB值约修复至0.65x。（4）申万银行指数近年来涨幅明显落后，当前PB值约0.53x，我们判断主要是我国经济在结构转型大背 景下，近年来经济处在承压运行期，导致市场预期较为悲观。 • 银行个股视角：我们统计的17个市场的154家样本行中有10 ...

证券之星消息，10月9日城商行板块较上一交易日下跌0.34%，苏州银行领跌。当日上证指数报收于 3933.97，上涨1.32%。深证成指报收于13725.56，上涨1.47%。城商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) | | | --- | --- | --- | --- | --- | --- | --- | | 601577 | 长沙银行 | 9.03 | 2.27% | 30.50万 | | 2.74亿 | | 002936 | 郑州银行 | 2.00 | 1.01% | 78.86万 | | 1.57亿 | | 601187 | 厦门银行 | 6.31 | 0.48% | 13.03万 | | 8174.38万 | | 601838 | 成都银行 | 17.33 | 0.46% | 27.72万 | | 4.77亿 | | 001227 | 兰州银行 | 2.37 | 0.42% | 30.89万 | | 7308.70万 | | 600928 | 西安银行 | 3.90 | 0.26% | 27.86万 | | 1.08亿 | | 6 ...

Group 1 - Nikkei 225 index surged 4.75% to reach a historical high, while Hang Seng Index rose 9.3% during the holiday, indicating strong performance in overseas markets [1] - A-share market has a historical trend of over 70% probability of rising in the first week after National Day, with three main drivers identified for a potential rebound [3] - The probability of a Federal Reserve rate cut in November has risen to 94%, leading to a shift of global funds from high-yield assets to emerging markets, with Chinese assets becoming a focal point [3] Group 2 - Domestic policies and liquidity are crucial for stabilizing the A-share market, with the central bank injecting 300 billion yuan in liquidity through reverse repos [5] - Various policy measures have been implemented, including tax refunds for semiconductor equipment purchases and consumer subsidies, creating a supportive environment for market recovery [5] - Industrial profits showed a significant turnaround, with a 20.4% year-on-year increase in August, ending three months of negative growth [5] Group 3 - The AI sector is experiencing growth, with AMD and OpenAI entering a multi-billion dollar partnership, driving global demand for computing power [7] - The penetration rate of domestic AI chips is expected to rise from 12% in 2024 to 28% in 2025, with private equity firms showing strong confidence in the technology sector [7] - Historical data indicates a 60% probability of the Shanghai Composite Index rising in the first five trading days after National Day, with an average increase of 1.41% [7] Group 4 - Analysts suggest the market has entered a "fundamentally driven bull market phase," with technology leading the way, while consumer and financial sectors are expected to catch up [9] - Semiconductor equipment companies are likely to benefit from policy subsidies, with firms like North Huachuang and Changchuan Technology showing strong profit growth [9] - The valuation of technology stocks remains low, with the computer industry PE at 38 times, below the 50th percentile since 2015 [9] Group 5 - Consumer sectors such as liquor and new energy are expected to benefit from seasonal demand and foreign capital inflow, supported by fiscal subsidies [11] - Financial sectors, including brokerage firms and banks, are positioned to gain from improved market sentiment and increased trading volumes [11] - Concerns exist regarding whether high valuations in technology stocks have already priced in future growth, especially if foreign capital takes profits [11]

Core Insights - The city commercial bank sector experienced a decline of 1.0% on September 30, with Suzhou Bank leading the drop [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance Summary - Qingdao Bank: Closed at 4.76, unchanged; trading volume of 223,200 shares, turnover of 106 million [1] - Shanghai Bank: Closed at 8.96, down 0.55%; trading volume of 416,300 shares, turnover of 373 million [1] - Beijing Bank: Closed at 5.51, down 0.72%; trading volume of 2,311,600 shares, turnover of 1.272 billion [1] - Hangzhou Bank: Closed at 15.27, down 0.78%; trading volume of 157,990 shares, turnover of 883 million [1] - Lanzhou Bank: Closed at 2.36, down 0.84%; trading volume of 339,500 shares, turnover of 80.379 million [1] - Guiyang Bank: Closed at 5.76, down 0.86%; trading volume of 271,900 shares, turnover of 157 million [1] - Chongqing Bank: Closed at 8.93, down 0.89%; trading volume of 99,700 shares, turnover of 89.151 million [1] - Changsha Bank: Closed at 8.83, down 0.90%; trading volume of 276,800 shares, turnover of 244 million [1] - Chengdu Bank: Closed at 17.25, down 0.92%; trading volume of 279,700 shares, turnover of 482 million [1] - Zhengzhou Bank: Closed at 1.98, down 1.00%; trading volume of 756,400 shares, turnover of 150 million [1] Capital Flow Analysis - The city commercial bank sector saw a net outflow of 462 million from main funds, while speculative funds had a net inflow of 331 million, and retail investors had a net inflow of 131 million [2] - Suzhou Bank: Main fund net inflow of 55.9396 million, speculative fund net outflow of 11.5337 million, retail net outflow of 44.4059 million [3] - Changsha Bank: Main fund net inflow of 33.8793 million, speculative fund net outflow of 13.6525 million, retail net outflow of 20.2268 million [3] - Qilu Bank: Main fund net inflow of 8.6825 million, speculative fund net outflow of 2.7980 million, retail net outflow of 5.8846 million [3] - Hangzhou Bank: Main fund net inflow of 7.6881 million, speculative fund net inflow of 44.2474 million, retail net outflow of 51.9354 million [3] - Guiyang Bank: Main fund net inflow of 4.8665 million, speculative fund net outflow of 1.6412 million, retail net outflow of 3.2254 million [3]

数据显示，截至9月29日，上市银行被调研总次数超300次，机构调研家数超2000家。其中，长三角等地 的区域性银行被机构调研次数较多，息差、资产质量、信贷投放等备受机构关注。业内人士表示，在经 济发达地区，部分区域性银行业绩韧性较强。银行股具有"低估值、分红稳定"等优势，展望未来，随着 险资等增量资金的流入，有望支撑银行板块行情。 公开信息显示，常熟银行是全国首批组建的股份制农村金融机构，2025年上半年，该行实现营业收入 60.62亿元，同比增长10.10%；实现归属于上市公司股东的净利润19.69亿元，同比增长13.51%。此外， 该行于9月8日派发2025年度中期现金红利，每股派发现金红利0.15元（含税），共计派发现金红利4.97 亿元，这也是该行自上市以来首次实施中期分红。 杭州银行9月11日在接待机构调研时表示，分业务板块来看，上半年该行对公业务风险控制情况总体良 好，大零售业务风险有所上升，但符合年初判断，且在预期范围内。总体而言，大零售信贷风险上升趋 势阶段性有所减缓。截至6月末，杭州银行不良贷款率0.76%，拨备覆盖率520.89%。 区域性银行成调研重点 机构的一举一动向来是资本市场的风向 ...

Core Viewpoint - The article highlights the increasing interest of institutional investors in regional banks, particularly in the Yangtze River Delta, due to their strong performance and resilience in a developed economic region [1][2]. Group 1: Institutional Research Focus - As of September 29, 2023, A-share listed banks have been surveyed over 300 times by more than 2000 institutions, with regional banks in the Yangtze River Delta receiving significant attention [1]. - Institutions are particularly focused on net interest margin stability, potential asset quality risks, and future credit allocation strategies during their research [2][3]. Group 2: Financial Performance of Regional Banks - Changshu Bank reported a revenue of 6.062 billion yuan, a year-on-year increase of 10.10%, and a net profit of 1.969 billion yuan, up 13.51% [2]. - The bank also declared its first interim cash dividend since its listing, distributing 0.15 yuan per share, totaling 499 million yuan [2]. Group 3: Investment Trends in Banking Sector - The investment logic for bank stocks is shifting from valuation recovery to deep value discovery of high-quality banks amid industry differentiation [3]. - As of September 29, 2023, the Shenwan Primary Bank Index closed at 4000.30 points, with a year-to-date increase of 2.33%, while individual stocks like Agricultural Bank, Qingdao Bank, and Pudong Development Bank rose over 20% [4]. - Institutional investments in bank stocks have increased, with insurance funds actively purchasing shares in various banks, indicating a preference for high dividend returns and stable earnings [4].