格隆汇2月27日丨零在科技金融(00093.HK)公布，预期截至2025年12月31日止年度的除税前溢利将不少 于约2500万港元，而截至2024年12月31日止年度之除税前溢利约为3700万港元。 集团除税前溢利减少乃主要由于年内授出的贷款数量增加及于2025年12月31日的应收贷款增长，导致应 收贷款减值亏损增加，以及年内产生用于品牌知名度及认可度的广告及推广开支增加所致。 ...

本集团除税前溢利减少乃主要由于年内授出的贷款数量增加及于2025年12月31日的应收贷款增长，导致 应收贷款减值亏损增加，以及年内产生用于品牌知名度及认可度的广告及推广开支增加所致。 零在科技金融(00093)发布公告，预期截至2025年12月31日止年度的除税前溢利将不少于约2500万港 元，而截至2024年12月31日止年度的除税前溢利约为3700万港元。 ...

Banco Macro (NYSE:BMA) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsBrian Flores - VP of Equity ResearchCarlos Gomez-Lopez - Head of EM and LatAm FinancialsErnesto Gabilondo - Director of LatAm FinancialsJorge Scarinci - CFOJuan Parma - CEOLindsey Shema - Equity Research AssociateNicolás Torres - Director of Investor RelationsYuri Fernandes - Executive DirectorConference Call ParticipantsKaio Prato - Stock AnalystMarcos Seru - Equity Research AnalystMatías Cattaruzzi - Senior Equi ...

央视网消息：2025年，国家开发银行积极发挥服务基础设施建设主力银行作用，以重大项目为牵引，向 网络型、产业升级、城市、农业农村、国家安全五大领域基础设施发放贷款1.64万亿元，支持了沿江高 铁等一批重大项目建设。 ...

广义货币（M2）和社会融资规模增速均保持在较高水平；贷款规模保持合理增长，信贷结构持续优 化；贷款利率保持在低位水平……中国人民银行2月13日发布的1月份统计数据体现出金融对经济的强力 支撑，释放出持续为经济回升向好创造适宜货币金融环境的有力信号。 信贷总量平稳增长 1月末，社会融资规模存量449.11万亿元，同比增长8.2%；M2余额347.19万亿元，同比增长9%；1月 份，社会融资规模增量为7.22万亿元，同比多1662亿元。一系列数据表明，适度宽松的货币政策有力支 持了年初经济平稳开局。 在东方金诚首席宏观分析师王青看来，开年以来，宏观政策更加积极有为。一方面，适度宽松的货币政 策持续发力，灵活运用多种货币政策工具保持流动性充裕，下调结构性工具利率0.25个百分点，完善结 构性工具设计和管理，按市场化方式激励引导银行增加对重点领域信贷投放。另一方面，财政政策基调 更加积极，1月份政府债券融资9764亿元，比上年同期多2831亿元。政府债券融资增量在全部社会融资 规模中的占比达到13.5%，是2021年以来同期最高水平。 除政府债券外，企业债券、股权融资等直接融资渠道也在加快发展。当前，新旧动能加速转换 ...

Core Insights - January financial data indicates a strong start to the year, with M2 growth reaching 9%, the highest in nearly two years, and social financing scale increasing significantly [1][2] Group 1: Monetary and Financing Data - As of the end of January, M2 balance was 347.19 trillion yuan, with a year-on-year growth of 9%, marking a 0.5 percentage point increase from the previous month and a 2.0 percentage point increase from the same period last year [2] - Social financing scale reached 449.11 trillion yuan, with an 8.2% year-on-year growth, and a record monthly increase of 7.22 trillion yuan, which is 1,662 billion yuan more than the same month last year [2][4] - Government bond financing accounted for 13.5% of the total social financing increase, the highest level for the same period since 2021, indicating strong government support for financing [2] Group 2: Credit Growth and Demand - The total RMB loan balance reached 276.62 trillion yuan, with a year-on-year growth of 6.1%, and an increase of 4.71 trillion yuan in January [4][5] - Significant project launches and early investments have driven project loans, with corporate loans increasing by 4.45 trillion yuan in January, including 3.18 trillion yuan in medium- and long-term loans [6] - Consumer loan growth was supported by pre-holiday spending, with government policies enhancing consumer loan incentives [6] Group 3: Financing Costs and Structure - The average interest rate for newly issued corporate loans was approximately 3.2%, down about 20 basis points from the previous year, while personal housing loans remained stable at 3.1% [7] - The financing cost remains low, reflecting a relatively abundant credit supply and the effectiveness of financial support to the real economy [7] - The structure of credit is improving, with significant growth in loans to high-quality development sectors, including a 11.6% increase in inclusive small and micro loans [7][8]

Investment Rating - The report maintains an "Accumulate" rating for the banking sector, indicating a positive outlook for the industry in the near term [6]. Core Insights - The central bank continues to implement a moderately loose monetary policy, focusing on stabilizing economic growth and ensuring reasonable price recovery. The report emphasizes the need to monitor domestic and international economic conditions closely for potential adjustments in policy tools such as reserve requirement ratio (RRR) cuts and interest rate reductions [1][9]. - The average weighted interest rate for new loans dropped to 3.15% in December 2025, with expectations for further stabilization at low levels. This adjustment reflects a shift in focus from reducing financing costs to maintaining them at manageable levels, which is crucial for the health of the banking system [2][3]. - The report highlights a structural focus on expanding domestic demand, with financial support for key areas expected to strengthen. The central bank plans to collaborate with the Ministry of Finance to implement policies aimed at boosting consumption and investment [3][12]. Summary by Sections Monetary Policy - The report reiterates the commitment to a moderately loose monetary policy, aiming to keep liquidity ample and social financing conditions relatively loose. It emphasizes the importance of aligning monetary supply growth with economic growth and price stability [8][9]. Interest Rates - The report notes a further narrowing of the decline in new loan interest rates, with the average for corporate loans at 3.10% and personal housing loans remaining stable at 3.06%. This trend is expected to alleviate pressure on banks' net interest margins [2][4]. Structural Support - The report introduces new measures to support domestic demand, including a focus on structural monetary policy tools. It highlights the importance of fiscal and monetary policy coordination to enhance the effectiveness of measures aimed at stimulating consumption and investment [3][12]. Banking Sector Dynamics - The analysis indicates that the outflow of deposits does not significantly impact the overall liquidity of the financial system, with a shift towards diversified funding sources for banks. This change is expected to support the growth of banks' wealth management and fund distribution services [4][10]. - The implementation of a one-time credit repair policy is expected to benefit personal loan issuance by improving banks' ability to assess creditworthiness and support borrowers with repayment capacity [4][12].

围绕城市、农业农村基础设施，国开行重点支持城市地下管网管廊、城市轨道交通、"平急两用"公共基 础设施等领域项目建设，服务城市更新，助推加强城市生态环境治理；围绕高标准农田、现代设施农 业、规模化供水工程等重点领域加快信贷投放，服务农村人居环境整治。 国开行发展与规划部负责人表示，下一步，将以战略性标志性重大项目为牵引，创新基础设施市场化投 融资模式，助力传统基础设施更新和数智化改造，支持适度超前建设新型基础设施，服务扩大有效投 资。 （来源：经济参考报） 记者2月11日从国家开发银行获悉，2025年，国开行发挥服务基础设施建设主力银行作用，以重大项目 为牵引，向网络型、产业升级、城市、农业农村、国家安全五大领域基础设施发放贷款1.64万亿元。 在网络型、产业升级基础设施领域，国开行支持的广州至湛江高铁等项目开通运营，南水北调中线引江 补汉等工程加快实施；推动全国一体化算力网络国家枢纽节点地区建设"东数西算"工程，积极服务科技 基础设施建设。 ...

香港信贷(01273)发布公告，于2026年2月11日，香港信贷(作为贷款人)与客户J孙喆楠、客户K孙小杰及 客户L林惜文(统称为借款人)订立新贷款协议。根据新贷款协议，香港信贷已同意向借款人授出本金金 额为1300万港元的新贷款。 ...

智通财经APP讯，香港信贷(01273)发布公告，于2026年2月11日，香港信贷(作为贷款人)与客户J孙喆 楠、客户K孙小杰及客户L林惜文(统称为借款人)订立新贷款协议。根据新贷款协议，香港信贷已同意向 借款人授出本金金额为1300万港元的新贷款。 ...