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Express News | The six major banks plan to distribute a total dividend of over 200 billion yuan. Currently, the dividend yield of banks is higher than the yield of wealth management.
Express News | DBS Bank: Raised target price of China Construction Bank Corporation to 7 Hong Kong dollars, strong investment performance in the third quarter.
Major Bank Ratings | DBS: Upgrades China Construction Bank Corporation Target Price to 7 Hong Kong dollars, Strong Investment Performance in the Third Quarter.
On November 5th, Starlight released a research report stating that China Construction Bank Corporation's third-quarter investment income performance was strong, consistent with other state-owned banks. China Construction Bank successfully reversed losses in the first half of the year, recording a 0.7% growth in profit for the first three quarters, mainly driven by active trading in forex, bonds, and the stock market. The bank pointed out that as of the end of September, the investment roi for the first three quarters was 11%, the highest among the four major banks, and with lower valuation. The dividend yield for the 2025 fiscal year is expected to exceed 7%, the highest among the four major banks. Starlight currently predicts that the average annual compound growth rate of profit for China Construction Bank from 2023 to 2026 will reach about 2%, slightly lower than previous expectations.
Research reports Prospecting | Guolian: China Construction Bank Corporation's profit growth rate turned positive from negative in the first three quarters, maintaining a "shareholding" rating.
Guolian's research report on November 5th pointed out that China Construction Bank Corporation (601939.SH) achieved a net income attributable to the parent of 255.776 billion yuan in the first three quarters, a year-on-year increase of +0.13%. The growth rate of net income turned positive, contributing to the expansion of scale. The significant increase in other non-interest income growth is mainly due to the low base of fair value change gains and losses in the same period last year. As of the end of 2024Q3, the company's loan balance was 25.7 trillion yuan, a year-on-year increase of +8.87%, with a growth rate of -1.15% compared to 2024H1. The company's asset-side income level continues to decline, and the decrease in interest rate spread mainly resulted from the background of deposit benchmark interest rate adjustments.
Express News | Earning a total of 1.66 trillion yuan in the first three quarters! A comprehensive review of the performance of 42 listed banks in the industry.
China Construction Bank Corporation (601939): The narrowing of interest rate spread has led to a turnaround from negative to positive profit growth.
Investment Highlights China Construction Bank Corporation released its third quarter report for 2024, with the company achieving revenue of 569.022 billion yuan in the first three quarters, a year-on-year decrease of 3.30%. Achieved net income attributable to equity holders of the parent company of 255.776 billion yuan, a year-on-year increase of 0.13%. Net income
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