2023: A Surge in Research on Listed Banks: Net Interest Margin, Loan Disbursement, and Dividend Policies Take Center Stage

2023: A Surge in Research on Listed Banks: Net Interest Margin, Loan Disbursement, and Dividend Policies Take Center StageWind data shows that as of December 3rd, 2023, 26 listed banks have undergone institutional research, accumulating a total of 490 research sessions with over 2300 participating institutions. This surpasses the same period last year

2023: A Surge in Research on Listed Banks: Net Interest Margin, Loan Disbursement, and Dividend Policies Take Center Stage

Wind data shows that as of December 3rd, 2023, 26 listed banks have undergone institutional research, accumulating a total of 490 research sessions with over 2300 participating institutions. This surpasses the same period last year. This surge in research reflects institutional investors' keen interest in the future development trends of the banking sector. Net interest margin (NIM), loan disbursement, and dividend policies have emerged as the key focal points for institutional investors this year.

Strategies for Addressing the Shrinking Net Interest Margin: Stabilize, Optimize, and Enhance

Banks have faced persistent pressure from shrinking NIMs in recent years. In exchanges with institutional investors, many banks acknowledged this challenge, expressing their expectation that NIMs will stabilize in 2024. To counter this, banks have implemented various strategies, primarily focusing on optimizing their asset-liability structures to maintain a reasonable NIM level.

Changshu Bank, in response to research inquiries, explicitly stated its intention to address the NIM challenge by increasing the proportion of high-interest loans and optimizing its deposit structure, anticipating relative stability in the second half of the year. This strategy reflects Changshu Bank's proactive approach in adjusting its asset-liability structure and actively seeking profit growth points. Ruifeng Bank similarly indicated it would strengthen NIM management and implement multiple measures to enhance its management capabilities, highlighting its emphasis on risk control and profitability. These strategies are not isolated incidents but reflect the common challenges and approaches within the industry. Increasing the proportion of high-interest loans and optimizing deposit structures are common avenues explored by numerous banks.

2025 Loan Strategies: Balanced Growth and Structural Optimization

Beyond NIMs, institutional investors also closely scrutinized banks' loan disbursement strategies. Many banks revealed their 2025 loan plans during research sessions, generally aiming for steady loan growth while further optimizing their loan structure. A notable feature is the increased support for sectors like fintech and inclusive finance.

Suzhou Bank stated it is orderly advancing its 2025 loan project reserves, striving to support steady loan growth next year. This statement reflects Suzhou Bank's stable and forward-looking development plan and its positive response to national policy guidance. Other banks' loan strategies are similar, emphasizing structural optimization and supporting the development of strategic emerging industries, aligning with national policies and the banks' long-term interests. By supporting fintech and inclusive finance, banks can serve the real economy while improving their competitiveness and profitability.

Dividend Policies: Sustainable and Reasonable, Balancing Operations and Investor Needs

Dividend policy is another key area of interest for institutional investors. Many banks stated during research sessions that they would implement a continuous and reasonable dividend distribution policy, considering both operational performance and investor needs. The recent surge in interim dividend distribution by listed banks further confirms this.

Data shows that 20 banks have announced interim dividend plans, with 7 already completing the distribution. Notably, the six major state-owned banks' planned interim dividends all exceeded 10 billion yuan, with Industrial and Commercial Bank of China leading with a planned 51.109 billion yuan. This reflects the strong profitability and shareholder return commitment of the state-owned banks. A sustainable and reasonable dividend policy enhances investor confidence and strengthens the banks' market appeal.

Focus on Banks in the Jiangsu and Zhejiang Region: Regional Economic Development and Investment Opportunities

It's noteworthy that some listed banks in the Jiangsu and Zhejiang region received particular attention from institutional investors this year. Changshu Bank, Jiangsu Bank, and Suzhou Bank were surveyed 100, 61, and 50 times respectively, reflecting investors' optimism about the region's economic prospects and interest in investment opportunities in local banks. The developed economy and active financial markets in Jiangsu and Zhejiang provide a favorable environment for local banks, attracting numerous institutional investors. The strong performance and future potential of these banks are key factors driving continued institutional interest.

In conclusion, the surge in research on listed banks in 2023 reflects institutional investors' close attention to the future development trends of the banking industry. Net interest margin, loan disbursement, and dividend policies are focal points, and banks are actively adjusting strategies to address challenges and seize opportunities. The high level of interest in banks in the Jiangsu and Zhejiang region underscores the close relationship between regional economic development and investment opportunities. The banking industry will face further challenges and opportunities in the future. Balancing risk and return will be a critical issue for banks to continuously consider and address. Closely monitoring banks' operating conditions and policy changes is crucial for investors to make informed investment decisions.

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