中信证券：银行政策趋于灵活，估值延续提升

Core Viewpoint - The report from CITIC Securities indicates a stable macro-financial environment leading to a stable banking operating environment by 2026, with expectations of a bottoming out of bank interest margins and a recovery in income and profitability as risks in the real sector ease [1] Group 1 - The banking sector is expected to experience a reassessment of systemic risks, resulting in valuation recovery [1] - The stability in equity returns is anticipated to drive capital inflows into the banking sector [1] - The sector is projected to continue demonstrating a trend of valuation enhancement through 2026 [1]