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Agricultural Bank of China Limited (ACGBY) Q3 2024 Earnings Call Transcript Summary
Social security funds' heavy-weighted stocks have arrived in the third quarter!
With the completion of the third quarter report disclosure, the position information of the social security fund in the third quarter gradually emerged. According to Wind data, as of the end of the third quarter, the social security fund appeared in the top ten circulating shareholders of 563 listed companies, with 377 stocks held by the social security fund exceeding one billion, accounting for 66.96%. Social security fund heavyweights are mainly concentrated in the banking and insurance industries. Agricultural Bank of China, Industrial and Commercial Bank of China, the People's Insurance, and Bank of Communications are the top four holdings of the social security fund, with holding market values of 112.901 billion yuan, 76.21 billion yuan, 41.706 billion yuan, and 22.978 billion yuan. 202
China Banking Regulatory Commission: Allow qualified banks to implement advanced approaches for capital measurement.
The China Banking and Insurance Regulatory Commission recently issued the 'Regulations on the Application and Acceptance of Advanced Capital Measurement Methods for Commercial Banks', clarifying the acceptance process and regulatory requirements for banks implementing advanced measurement methods, promoting banks to continuously improve their risk management capabilities, and stipulating that the regulations will be implemented from the date of issuance. The relevant person in charge of the banking regulatory commission stated that the advanced methods allow banks to use internal models to estimate risk parameters for capital measurement, thereby enhancing the precision of capital measurement. Allowing qualified banks to implement advanced capital measurement methods is conducive to promoting banks to continuously enhance their comprehensive risk management systems, improve data foundation and quality, strengthen system integration, and promote
Agricultural Bank of China (601288): Third quarter report review in 2024, leading performance among major banks, stable interest margin on a month-on-month basis.
Revenue and profit growth rates are generally improving marginally, with other non-interest performances shining in 1-3Q24. Agricultural Bank of China's revenue and net income attributable to equity holders increased by +1.29% and +3.38% year-on-year, compared to growth rates of +1 and +1.38 in 1H24.
Minsheng Securities: In the third quarter of 2024, the performance growth rate of the six major state-owned industries has marginally improved, with stable asset quality.
In the third quarter of 2024, the overall operation of the six major banks is stable, with assets maintaining steady expansion and asset quality staying at a reasonable level.
Citi's investment rating and target price for china mainland banking (table)
Citigroup has released a research report, listing the investment ratings and target prices for china mainland banking as follows: Stock | Investment Rating | Target Price (HKD) industrial and commercial bank of china (01398.HK) | Buy | HK$5.71 china construction bank corporation (00939.HK) | Buy | HK$7.26 bank of china (03988.HK) | Buy | HK$4.52 agricultural bank of china (01288.HK) | Buy | HK$4.21 postal savings bank of china (01658.HK) | Buy | HK$5.42 bank of communications (03328.HK) | Buy
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