上市银行，迎密集调研！

Core Viewpoint - Since 2026, listed banks have experienced intensive institutional research, particularly focusing on small and medium-sized banks in economically developed coastal regions [1] Group 1: Institutional Research and Credit Performance - As of February 9, 2026, 13 listed banks have undergone 54 institutional research sessions, with 386 participating institutions [2] - Key topics of interest include the performance of credit in the "opening red" period, the "14th Five-Year Plan," asset-liability management, and wealth management [2] - Multiple analysts noted that the credit performance in the opening of 2026 is strong, with banks actively developing wealth management and other intermediary businesses [2][4] Group 2: Focus on Credit Allocation - Credit allocation is primarily directed towards the technology and innovation sectors [3] - Banks reported that their credit issuance aligns with expectations, with overall performance better than the previous year [4] - For instance, Suzhou Bank and Hangzhou Bank indicated a good start to the "opening red" period, with increased credit issuance compared to the same period last year [4] - Shanghai Bank focuses on major strategic projects in Shanghai, while also expanding housing mortgages and loans for new energy vehicles in retail [4] Group 3: Intermediary Business Income - Banks are looking to expand intermediary business income as a core strategy to address margin pressure, with wealth management being a key area of focus [6][7] - Analysts from various banks believe that wealth management will continue to improve, driven by active capital market performance and a favorable environment for fee income [7] - The trend of "deposit migration" is not significantly observed, with many banks reporting an increase in new deposits compared to the previous year [7] Group 4: Preliminary Annual Performance Reports - As of February 9, 2026, 11 listed banks have released preliminary performance reports, showing positive growth in operating income and net profit [8][9] - Notably, Qingdao Bank and Qilu Bank reported net profit growth of 21.66% and 14.58%, respectively [9][10] Group 5: Asset Quality and Growth Trends - The asset scale of the listed banks has shown steady expansion, with many small and medium-sized banks growing at rates exceeding 10% [12] - The non-performing loan ratio remains stable, with no significant rebound observed [12] - Analysts expect that the recent implementation of structural monetary policy tools by the central bank will help stabilize net interest margin expectations and enhance credit issuance willingness [12]