本报（chinatimes.net.cn）记者卢梦雪 北京报道 收购地方银行不良资产，中原资产管理有限公司（下称"中原资产"）再次出手。 根据11月17日披露的信息，中原资产已与洛阳农商银行、河南浚县农商银行、鹤壁农商银行签署协议， 拟以52.77亿元的转让价款收购3家银行不良资产。 值得一提的是，本次转让不良资产的3家农商银行，都在河南农信尚未完成改革的34家农商银行（农信 社）名单之中。有业内人士认为，此前河南地方AMC（资产管理公司）参与了多家中小银行的不良资 产处置，处置完成后，相关银行陆续被吸收合并，本次农商行的不良资产处置或也在为河南农商行的后 续改革做准备。 中原资产再收购3家银行不良 两次吸收合并后，河南农信系统尚余34家（农信社）待推进改革，本次向中原资产转让不良资产的3家 银行均在其中。 有业内人士向《华夏时报》记者分析认为，此次3家银行转让不良资产，或在为河南农信进一步改革做 准备。 "一次性整合上百家机构，对省级管理机构是巨大挑战。采取分阶段、分批次吸收合并，往往优先整合 风险较高的农信机构，可防止个别机构的问题蔓延至整个系统，分批次进行也可逐步消化整合过程中存 在的问题。" 招联首席 ...

此次"三合一"整合，是2024年新"国九条"发布后又一例大型券商深度整合案例。 21世纪经济报道记者崔文静实习生张长荣北京报道 市场关注已久的中金公司合并消息终于落地，但此番合并对象并非此前市场猜测的银河证券，而是东兴证券与信达证券。 11月19日晚，三家券商同步发布《关于筹划重大资产重组的停牌公告》，揭晓了这宗由中金公司通过换股方式吸收合并后两者 的重磅方案，自11月20日起，三家券商将正式停牌，预计停牌时间不超过25个交易日。 | 证券代码 证券简称 停复牌类型 停牌起始日 停牌期间 | | | --- | --- | | 601995 中金公司 A 股 停牌 | 2025/11/20 | "三合一"大并购 根据中金公司、东兴证券、信达证券公告，此次合并由中金公司牵头，中金公司通过向东兴证券全体A股换股股东发行A股股 票、向信达证券全体A股换股股东发行A股股票的方式，换股吸收合并东兴证券、信达证券。 中金公司合并对象并非此前市场猜测已久的银河证券，而是东兴证券与信达证券，这虽看似意外，实则是另一盘券商整合大棋 的重要落子。 随着三大AMC相继划入中央汇金旗下，东兴证券与信达证券也摇身成为中央汇金旗下券商。 ...

Summary of Standard Chartered Conference Call (November 19, 2025) Company Overview - **Company**: Standard Chartered (SEHK: 02888) - **CFO**: Diego, who joined in January 2024 - **Stock Performance**: Stock price increased by approximately 150% since Diego's appointment, outperforming the SX7P index which rose by 110% [1][2][3] Key Business Segments and Performance Wealth Management - **Wealth Management Growth**: Significant growth driven by the rise of the middle class in Asia and increasing sophistication of investors [5][6] - **Record Net New Money**: Attracted $15 billion in Q2 and $13 billion in Q3, with a year-to-date growth of 15% in net new money flows and 25% growth in wealth income [7][10] - **Target for Affluent Net New Money**: Aiming for $200 billion over five years, averaging $10 billion per quarter [12] - **Investment in Wealth Management**: Plans to invest $1.5 billion, focusing on hiring relationship managers and enhancing technology [13] Cross-Border Income - **Growth Rate**: Achieved a 9% CAGR in cross-border income since 2019 [19] - **Competitive Advantage**: Strong network presence in ASEAN and Africa, with a focus on capital flows rather than trade [16][18] Financial Markets Business - **Risk Management Focus**: 70% of the markets business is dedicated to risk management, growing at 10% per annum [21][23] - **Integration with Banking**: The flow business is consistent and programmatic, while episodic business varies with market conditions [24] Strategic Insights - **Market Positioning**: Standard Chartered is focused on affluent customers ($1 million-$10 million), which are cheaper to acquire and serve, leading to high loyalty [9] - **Response to Market Volatility**: The bank has shown resilience during volatile times, with strong performance in both banking and markets businesses [26][27] - **Digital Assets Strategy**: Actively involved in digital banking and assets, including stablecoins and tokenized deposits, positioning itself as a central player in the digital asset revolution [35][36] Regional Focus and Turnaround Strategies - **UAE as a Growth Hub**: The UAE has become the third-largest wealth management hub for Standard Chartered, with a focus on attracting high-net-worth individuals [46][47] - **Korea and India**: Plans to pivot towards wealth management in Korea and India, with new wealth centers established [48][49][50] Financial Performance and Projections - **Return on Tangible Equity (ROTE)**: Achieved ROTE target for 2026 ahead of schedule, with projections for continued growth [28][29] - **Cost Management**: The "Fit for Growth" program aims to optimize costs while supporting growth, with a focus on maintaining a cost-conscious approach [62][63] Risks and Challenges - **Market Recession Impact**: A potential market recession could negatively affect wealth management performance, but the bank remains optimistic about its diversified clientele [75][77] Conclusion - **Outlook**: Standard Chartered is well-positioned for future growth, with a strong focus on wealth management, digital assets, and cross-border income, while maintaining a disciplined approach to cost management and capital allocation [80][81]

Core Insights - Allica Bank's lending to established SMEs in Britain contributed £5.8 billion ($7.6 billion) to GDP in 2024, with £2.2 billion direct, £1.8 billion indirect, and £1.8 billion induced contributions [1] - The bank's lending generated £1.4 billion in tax revenues and supported over 84,000 jobs, equating to one job for every 440 jobs in the country [1] Lending Growth and Impact - Since its inception five years ago, Allica Bank has issued over £3.5 billion in loans to SMEs, with more than £1.5 billion provided last year alone [2] - The bank's lending has supported nearly 10,000 jobs in the North West, 8,900 in the West Midlands, and 7,700 in the East Midlands [2] Employment and Regional Impact - The highest employment share impact from Allica Bank's lending was observed in Wales and the North East [3] - The bank's strategy combines technology with a dedicated relationship manager team, which is expected to double in size within the year [3] Strategic Goals and Market Penetration - Allica Bank aims to capture 10% of the established SME finance market by the end of 2028, facilitating an initial £1 billion in working capital finance for SMEs [4] - The CEO emphasized the importance of established SMEs as the backbone of the UK economy and the need for challenger banks to better serve them [4] Financial Performance - Allica Bank reported a 55.2% increase in profit after tax, reaching £29.8 million ($39.54 million) in 2024, compared to £19.2 million in 2023 [5] - Each £1 million in lending enables SMEs to contribute £2.4 million to UK GDP, create 35 jobs, and generate £600,000 in tax revenue [5]

Core Points - Coop Pank AS has extended the term of office for Heikko Mäe as a member of the Management Board for an additional 3 years, until February 11, 2029 [1] - Heikko Mäe has been with Coop Pank since February 2020, serving as the Head of Risk and holding positions on the supervisory boards of its subsidiaries [2] - Heikko Mäe holds 164,070 shares in Coop Pank AS and has options for additional shares maturing between 2026 and 2028 [3] Company Overview - Coop Pank is one of the five universal banks in Estonia, with a client base of 224,000 for daily banking services [4] - The bank aims to leverage the synergy between retail and banking to enhance accessibility to everyday banking services [4] - Coop Pank's strategic shareholder is Coop Eesti, a domestic retail chain with 320 stores [4]

Core Viewpoint - CICC is planning a significant asset restructuring involving a merger with Dongxing Securities and Cinda Securities, aiming to enhance its position as a leading investment bank and support the development of the financial market [1][2]. Group 1: Restructuring Announcement - CICC announced a suspension of trading on November 20, 2025, due to the major asset restructuring plan [2]. - The restructuring involves CICC issuing A-shares to all shareholders of Dongxing Securities and Cinda Securities in a stock swap merger [1][2]. Group 2: Strategic Goals - The merger is expected to accelerate the establishment of a first-class investment bank and contribute to the high-quality development of the securities industry [2]. - CICC aims to achieve economies of scale and synergies through the integration of resources and capabilities from the three firms, enhancing service quality and shareholder returns [2]. Group 3: Company Profiles - Dongxing Securities, established in May 2008, offers a comprehensive financial service system covering wealth management, investment trading, investment banking, asset management, and futures [2][4]. - Cinda Securities, founded in September 2007, excels in special asset investment banking, has made significant progress in wealth management transformation, and emphasizes financial technology investment [2][4]. Group 4: Financial Performance - As of the end of September 2025, CICC reported a revenue of 20.76 billion with a year-on-year growth of approximately 54%, and a net profit of 6.57 billion, up 130% [3]. - Dongxing Securities achieved a revenue of 3.61 billion and a net profit of 1.6 billion, reflecting a 70% year-on-year increase [3][4]. - Cinda Securities reported total revenue of 3.02 billion and a net profit of 1.35 billion, with a year-on-year growth of 28% and 53% respectively [4].

Core Viewpoint - The merger of China International Capital Corporation (CICC) with Dongxing Securities and Xinda Securities aims to enhance capital strength, integrate customer resources, and solidify CICC's leading position in the securities industry, leveraging "scale effects + business synergy" for multiple growth drivers in performance [1][3]. Group 1: Merger Details - CICC is planning a stock swap to absorb Dongxing Securities and Xinda Securities, enhancing its capital strength and competitive position in the securities industry [1]. - The combined entity will rank third in the industry in terms of the number of branches, with a total of 196 branches across the three firms [2]. - The merger is expected to create synergies between CICC's investment banking capabilities and the retail brokerage strengths of Dongxing and Xinda, enhancing comprehensive financial services [2][4]. Group 2: Financial Performance - As of September 2025, CICC reported a net capital of 46 billion yuan, with a significant increase in revenue and net profit, achieving 20% and 130% growth year-on-year, respectively [4]. - Dongxing Securities achieved a revenue of 3.61 billion yuan and a net profit of 1.6 billion yuan in the first three quarters of 2025, marking a 20.3% and 70% increase year-on-year [4]. - Xinda Securities reported a total revenue of 3.02 billion yuan and a net profit of 1.35 billion yuan, reflecting a year-on-year growth of 28.5% and 53% [4]. Group 3: Strategic Implications - The merger is part of a broader trend in the securities industry, with ongoing consolidation efforts aimed at enhancing competitiveness and service capabilities [6][7]. - Regulatory policies are creating a favorable environment for mergers and acquisitions, encouraging leading firms to strengthen their core competencies through strategic consolidations [7]. - This merger aligns with national financial strategies, aiming to build a stronger, more capable financial service platform that supports the real economy and national strategic goals [7][8].

本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 【11月19日东兴证券公告筹划重大资产重组事项】11月19日，东兴证券公告透露，公司正与中金公司、 信达证券筹划重大资产重组。此次是由中金公司换股吸收合并东兴证券、信达证券。为保证公平信息披 露、维护投资者利益，东兴证券A股股票（证券简称：东兴证券，证券代码：601198）将于2025年11月 20日开市起停牌，预计停牌不超25个。据悉，本次重组有助于加快建设一流投资银行，支持金融市场改 革与证券行业高质量发展。 ...

A股净息差最高的银行，正在迎来一名最年轻的行长。 日前常熟银行公告，行长包剑、副行长李勇均因工作变动请辞； 同日新任行长人选浮出水面，副行长陆鼎昌将兼任行长与首席合规官。 陆鼎昌现年39岁，成长于常熟银行内部体系，曾从基层信贷员起步，历任普惠金融部、小微金融总部等部门负责人，亦在分支行管理岗有过历练。 一旦完成监管核准，其将刷新A股上市银行中最年轻的行长记录。 前任包剑，也曾是上市银行中最年轻的行长，也曾起步于基层，从柜员一步步行至行长位置，并主导开创小微金融事业，打造出深耕县域市场的"常银微 金"特色模式。 受益于"常银微金"模式，该行近年来业绩亮点颇多： 一是三季度末的净息差继续蝉联A股银行之首，维持在2.57%的高位； 二是业绩成长性较强，营收、净利、净资产收益率的三年年复合增长率在同业中靠前。 展现出强大抗周期能力的同时，该行似乎仍未摆脱对信贷员"人海战术"的依赖： 信风注意到，2024年末该行不仅人力数量远高于规模相近的同业，成本收入比、人均创收、人均创利三项效益数据，均处于同业末游。 狂飙的业绩与脱节的效能，共同构成了常熟银行县域业务的"AB面"。 一方面，是营收贡献率接近8成的利息收入增长2.3 ...

Core Viewpoint - Shanghai Pudong Development Bank has successfully issued its first tranche of subordinated capital bonds for 2025, totaling RMB 20 billion, to enhance its Tier 2 capital [1] Group 1: Bond Issuance Details - The bond issuance was approved by relevant regulatory authorities and took place in the interbank bond market [1] - The total issuance scale is RMB 20 billion, divided into two types: a 10-year fixed-rate bond of RMB 16.5 billion with a coupon rate of 2.17%, and a 15-year fixed-rate bond of RMB 3.5 billion with a coupon rate of 2.40% [1] - The 10-year bond includes a conditional redemption option for the issuer at the end of the fifth year, while the 15-year bond has a similar option at the end of the tenth year [1] Group 2: Use of Proceeds - The funds raised from this bond issuance will be used to supplement the company's Tier 2 capital, in accordance with applicable laws and regulatory approvals [1]