金融ETF（510230）涨超0.7%，机构指银行息差或迎拐点

Group 1 - The banking industry is entering a new phase dominated by patient capital, with long-term funds represented by insurance capital, bank shareholders, executives, and asset management companies becoming the main pricing force [1] - By 2026, the banking sector is expected to achieve a balance in volume and price, with an improved competitive landscape under the "anti-involution" policy, making net interest margin a key revenue factor [1] - Initial signals of a bottoming out in net interest margin are emerging, with asset pricing expected to stabilize and the effect of deposit rate reductions on the liability side to be concentrated in 2026, leading to an "L-shaped" bottoming trend in net interest margin [1] Group 2 - The credit structure is continuously optimizing, with the new credit scale in 2026 expected to be flat or slightly lower than in 2025, while the growth rate of social financing and credit will continue to show a "scissors gap" [1] - The middle-income business is experiencing a mild recovery, with financial investment business becoming an important profit source for small and medium-sized banks [1] - The Financial ETF (510230) tracks the 180 Financial Index (000018), which selects listed companies involved in banking, insurance, and securities to reflect the overall performance of the financial industry [1]