多家银行中报预喜，中期分红推进，银行股配置吸引力提升，银行AH优选ETF(517900)获资金热捧

Core Viewpoint - Five listed banks, including Ningbo Bank, Changshu Bank, Qilu Bank, Hangzhou Bank, and Qingdao Bank, reported marginal improvements in revenue and profit growth for the first half of 2025 [1][10]. Group 1: Financial Performance - Ningbo Bank reported a revenue of 37.16 billion with a year-on-year growth of 7.91% and a net profit of 14.77 billion [11]. - Hangzhou Bank's revenue was 20.09 billion, reflecting a 3.89% increase, with a net profit of 11.66 billion [11]. - Qingdao Bank achieved a revenue of 7.66 billion, up by 7.50%, and a net profit of 3.06 billion [11]. - Qilu Bank's revenue was 6.78 billion, showing a 5.76% growth, with a net profit of 2.73 billion [11]. - Changshu Bank reported a revenue of 6.06 billion, with a notable 10.1% increase, and a net profit of 1.97 billion [11]. Group 2: Dividend Trends - The 2024 annual dividend has concluded, and mid-year dividends for 2025 may commence, with banks like China Merchants Bank, Changshu Bank, and Su Nong Bank announcing their first mid-year dividends this year [1][11]. Group 3: Market Insights - Longjiang Securities noted that after a market correction, the expected dividend yield for leading city commercial banks in 2025 has rebounded, making them attractive for investment [1][12]. - The average static dividend yield for state-owned banks in A-shares is 4.02%, which is 230 basis points higher than the 10-year government bond yield [1][12]. - The Bank AH Preferred ETF (517900) has seen significant interest, with a net inflow of 17.37 million on August 4 and a total net inflow of 812 million for the year, marking a 624% increase in shares [1]. Group 4: Index Performance - Since its launch on December 6, 2017, the Bank AH Total Return Index has accumulated a return of 91.57%, attributed entirely to profit growth and dividends rather than valuation expansion [7].