HSBC Global Research cited the latest operational statistics from China Banking and Insurance Regulatory Commission (CBIRC) revealing stable trends for large banks, moderate improvements in joint stock banks but noticeable deterioration for city commercial banks in 3Q.
These may help explain why CBIRC decided to step-up support on POE and SME lending, said the research house.
HSBC noted that loan growth accelerated modestly and likely reflected banks' collective responses to policy stimulation (RRR cuts, window guidance to step-up lending). Sector NIM expanded to 2.15% in 3Q, higher than the 2.12% level reported in 2Q. NIM was largely flat QoQ for large banks while it expanded significantly for joint stock banks (improving to 1.89% from 1.81% a quarter earlier). Sector NPL ratio was up 1bp QoQ to 1.87% in 3Q; of which, the NPL ratio of large banks was down 1bp, joint stock banks was up 1bp, city commercial bank was up 10bp.
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