“二永债”与增资扩股齐发力 中小银行密集“补血”

Core Viewpoint - Recent actions by several small and medium-sized banks to supplement capital indicate a new wave of financing efforts, primarily through the issuance of perpetual bonds and secondary capital bonds, as well as capital increases and targeted placements [1][2]. Group 1: Capital Supplementation Actions - Lanzhou Bank and Xi'an Bank have received regulatory approval to issue perpetual capital bonds for the first time since their listings, with Lanzhou Bank allowed to issue up to 5 billion RMB and Xi'an Bank up to 7 billion RMB [2]. - The issuance of "perpetual bonds" by commercial banks has accelerated, with 47 bonds issued in 2023, totaling 794.96 billion RMB, showing a slight increase compared to the same period last year [2]. Group 2: Reasons for Accelerated Issuance - The capital adequacy ratios of small and medium-sized banks are generally lower than those of large banks, with some experiencing a downward trend, necessitating capital supplementation to meet operational needs [3]. - The profitability pressures faced by some banks limit their ability to supplement capital internally, leading them to turn to external channels such as bond issuance [3]. Group 3: Capital Increase and Share Issuance - In response to ongoing capital pressure, small and medium-sized banks are accelerating capital increases through share issuance or targeted fundraising [4]. - Regulatory approvals have been granted for several banks, including Zhuhai Rural Commercial Bank and Zhangjiakou Bank, to increase their registered capital [4]. Group 4: Capital Adequacy Ratios - As of the first quarter of 2025, the capital adequacy ratio for commercial banks (excluding foreign bank branches) was 15.28%, with city commercial banks and rural commercial banks at 12.44% and 12.96%, respectively, significantly lower than large commercial banks at 17.79% [5]. - The banking sector is facing challenges such as declining net interest margins and rising asset quality pressures, which impact profitability and internal capital supplementation capabilities [5].