Bank of Ningbo(SZ:002142) Di Yi Cai Jing·2025-11-14 14:04Group 1: Market Performance - The A-share banking sector has shown a continuous recovery since the fourth quarter, with bank stocks, including ICBC and ABC, reaching new highs on November 14. The China Securities Banking Index rose by 0.25%, with a cumulative increase of 1.69% over four trading days this week [1] - Institutional attention towards listed banks has increased significantly, with 23 listed banks being investigated by 891 institutions from July 1 to November 14, totaling 139 investigations [1] Group 2: Focus of Institutional Research - The main focus of institutional research includes the phase trends of net interest margins, changes in asset quality, and optimization of non-interest income structures [1] - Among the banks investigated, city commercial banks and rural commercial banks have become the focal point, with 14 out of 23 listed banks located in the Jiangsu, Zhejiang, and Shanghai regions [2] Group 3: Key Banks Under Investigation - Jiangsu Bank received the highest number of investigations at 83, followed by Chongqing Rural Commercial Bank, Ningbo Bank, and Shanghai Bank with 76, 75, and 70 investigations respectively [3] - Foreign institutions have shown a preference for Ningbo Bank, which attracted 47 foreign institutions for research, along with significant interest in Hangzhou Bank, Jiangsu Bank, and Ruifeng Bank [2] Group 4: Net Interest Margin and Asset Quality - Net interest margin remains a core concern for institutions, with many banks reporting signs of stabilization in their net interest margins in their semi-annual and quarterly reports [4] - Banks have successfully alleviated the downward pressure on interest margins by adjusting their liability pricing structures and expanding low-cost deposits [4][5] Group 5: Asset Quality Management - Institutions are closely monitoring asset quality, with banks like Ningbo Bank emphasizing a prudent risk preference and strict credit risk management to maintain asset quality within industry-leading levels [5][6] - Guizhou Bank reported a decrease in its non-performing loan ratio to 1.63%, with a robust provision coverage ratio of 239.59% [6] Group 6: Non-Interest Income and Market Strategies - As net interest margins face structural pressure, the importance of non-interest income has increased, with banks focusing on bond investment strategies and the recovery of intermediary business income [7] - Banks are adjusting their fee and commission income structures, with some smaller institutions experiencing declines in self-operated wealth management income due to regulatory impacts [8] Group 7: Future Outlook - Analysts predict that the influx of incremental funds will continue to support the banking sector, with expectations of increased demand for bank stocks from passive ETFs and insurance funds [9]