中信证券：银行基本面稳定 绝对收益延续

Core Viewpoint - The report from CITIC Securities indicates that the next phase of macro-prudential management and the expansion of financial stability tools may lead banks into a new stage of risk management, which is expected to strengthen bank balance sheets and accelerate the realization of net asset revaluation expectations [1] Group 1: Banking Sector Outlook - CITIC Securities anticipates that the third-quarter reports of banks will continue to show a stabilizing trend, with positive net interest margin movements and stable generation of non-performing loans [1] - Investment income is expected to see a quarter-on-quarter decline, but year-on-year growth rates for bank performance will remain stable [1] Group 2: Market Sentiment and Investment Strategy - Last week, investor risk appetite decreased, but bank stocks are expected to provide both relative and absolute returns [1] - It is projected that from the fourth quarter, absolute return capital will begin to position for next year, significantly enhancing the cost-performance ratio of the banking sector [1]