5年来年均增长9%或成A股银行板块持续走强“底气”

Core Viewpoint - The A-share banking sector is experiencing a strong performance, with significant gains in various banks, indicating a positive market sentiment towards the banking industry [1] Group 1: Market Performance - On November 4, the A-share banking sector saw notable increases, with Xiamen Bank rising over 5%, and Shanghai Bank, Industrial Bank, and Jiangyin Bank all increasing by more than 2.5% [1] - The total assets of the banking and insurance sectors in mainland China have surpassed 500 trillion yuan, with an average annual growth rate of 9% over the past five years, solidifying China's position as the largest credit market and the second-largest insurance market [1] Group 2: Future Outlook - According to Guotai Junan Securities, the transition period for new financial asset risk classification regulations will end in 2025, leading to more robust provisioning by listed banks, with expectations of a continued decline in credit costs into 2026, supporting stable profit growth [1] - The performance expectations for listed banks in 2026 are stable, with both revenue and net profit attributable to shareholders expected to achieve positive year-on-year growth, and net interest income growth anticipated to outperform that of 2025 [1] Group 3: Investment Strategy - The trend of improving fundamentals in the banking sector is clear, but individual bank performance may show greater differentiation, suggesting a focus on banks with strong earnings certainty [1] - It is recommended to consider index investment tools such as bank ETFs to gain exposure to the banking sector [1]