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China Construction Bank Corporation (CICHY) Q3 2024 Earnings Call Transcript Summary
Express News | Tsinghua Tongfang won the bid for the construction project of the Inner Mongolia Hohhot New Area datacenter of the Industrial and Commercial Bank of China.
Express News | Keda Industrial Group: plans to repurchase no more than 30 million shares.
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
China Construction Bank Corporation (601939): Marginal improvement in performance, narrowing decline in interest margin.
Event: The company released the third-quarter report for 2024. The revenue net income growth rate improved, and impairment recovery boosted profits: In the first three quarters of 2024, the company achieved revenue and net income attributable to shareholders of 569.022 billion yuan and 2557.76 billion yuan respectively.
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.
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