兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健

信达证券08-23

（以下内容从信达证券《兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健》研报附件原文摘录）兴业银行(601166)事件：8月22日，兴业银行发布2024半年报：2024年上半年，实现营业收入1,130.43亿元，同比增长1.80%；实现归母净利润430.49亿元，同比增长0.86%。营业收入、归母净利润同比增速均回正。点评：公贷增长贡献贷款扩张，普惠、绿色等贷款增速亮眼。截至2024H末，...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2461551511?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2024-08-23 16:07","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2461551511","market":"sh","top_or_hot":-1,"title":"兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健","media":"信达证券","content":"<div>\n<p>（以下内容从信达证券《兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健》研报附件原文摘录）兴业银行(601166)事件：8月22日，兴业银行发布2024半年报：2024年上半年，实现营业收入1,130.43亿元，同比增长1.80%；实现归母净利润430.49亿元，同比增长0.86%。营业收入、归母净利润同比增速均回正。点评：公贷增长贡献贷款扩张，普惠、绿色等贷款增速亮眼。截至2024H末，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082316091795b7465c&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-23 16:07 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082316091795b7465c&s=b><strong>信达证券</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>（以下内容从信达证券《兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健》研报附件原文摘录）兴业银行(601166)事件：8月22日，兴业银行发布2024半年报：2024年上半年，实现营业收入1,130.43亿元，同比增长1.80%；实现归母净利润430.49亿元，同比增长0.86%。营业收入、归母净利润同比增速均回正。点评：公贷增长贡献贷款扩张，普惠、绿色等贷款增速亮眼。截至2024H末，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082316091795b7465c&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0264606111.USD","symbol_name":"Janus Henderson Horizon Asian Dividend Income A2 USD","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082316091795b7465c&s=b","article_id":"2461551511","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082316091795b7465c&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2461551511","pubTimestamp":1724400449,"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"兴业银行事件：8月22日，兴业银行发布2024半年报：2024年上半年，实现营业收入1,130.43亿元，同比增长1.80%；实现归母净利润430.49亿元，同比增长0.86%。净息差降幅收窄，“手工补息”治理减轻成本压力。兴业银行2024H净息差1.86%，同比下降9BP，降幅较Q1收窄。2024上半年，兴业银行存款付息率2.06%，同比下降20BP，其中，企金存款付息率2.01%，同比下降25BP；零售存款付息率2.20%，同比下降4BP。资产质量保持稳健，风险整体可控。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"601166":"兴业银行","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","BK0012":"证金概念","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","BK0278":"货币金融","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0183":"MSCI概念","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0187":"一线龙头","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","BK0188":"融资融券","BK0015":"沪股通50","BK0028":"国家队"},"translate_title":"Comments on Industrial Bank's 2024 mid-term report: The decline in interest rate spreads narrowed, and asset quality remained stable","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601166":1},"content_text":"（以下内容从信达证券《兴业银行2024中报点评：息差降幅收窄，资产质量保持稳健》研报附件原文摘录）兴业银行(601166)事件：8月22日，兴业银行发布2024半年报：2024年上半年，实现营业收入1,130.43亿元，同比增长1.80%；实现归母净利润430.49亿元，同比增长0.86%。营业收入、归母净利润同比增速均回正。点评：公贷增长贡献贷款扩张，普惠、绿色等贷款增速亮眼。截至2024H末，兴业银行资产总额为10.35万亿元，同比增长4.65%，增速较Q1提升。其中，贷款投放较为稳健，对公贷款为主要贡献。截至2024H末，兴业银行贷款同比增长5.8%，公司贷款同比增长14.8%，主要是其将“三张名片”“五大新赛道”“数字兴业”与“五篇大文章”有机融合、一体推进，加快绿色、科技、普惠等重点领域资产投放，截至2024H末，绿色、科技、普惠等企金贷款余额分别较上年末增长13.13%、9.25%、16.54%，均高于对公贷款增速。此外，兴业银行加大重点分行资源配置，着力提升重点分行的贡献，重点区域分行贷款占比较上年末提升0.43pct，达到57.16%。净息差降幅收窄，“手工补息”治理减轻成本压力。兴业银行2024H净息差1.86%，同比下降9BP，降幅较Q1收窄。公司通过高质量经营存款端、持续优化存款结构，以减轻付息成本压力，例如通过高成本存款到期置换、“手工补息”治理，压降负债成本、引导存款健康发展。2024上半年，兴业银行存款付息率2.06%，同比下降20BP，其中，企金存款付息率2.01%，同比下降25BP；零售存款付息率2.20%，同比下降4BP。我们认为，在当前贷款利率下行的背景下，兴业银行从自身资负经营角度出发，资产端以“区域+行业”为抓手，加快绿色、科技、普惠等重点领域资产投放，持续推动资产结构调整，负债端持续优化存款结构，拓展低成本结算性存款，推动负债高质量发展，息差压力有望持续减缓，息差企稳可期。资产质量保持稳健，风险整体可控。2024H末，兴业银行不良贷款率1.08%，较上年末上升0.01pct，关注贷款率1.73%，环比Q1末略上升0.03pct，主要受宏观经济结构转型、房地产市场调整、零售交叉违约严格认定等因素影响，但整体不良指标保持稳健。拨备覆盖率小幅回落至237.82%，较上年末下降7.39pct。房地产层面，兴业银行加强对存量项目的风险评估，对部分短期内较难满足保交房条件的房地产项目，及时下调风险分类等级、计提充足减值损失，推动经营机构加快风险化解；城投层面，2024H末兴业银行地方政府平台融资余额1516亿元，较上年末减99亿元，地方政府融资平台债务主要分布在经济发展较好、财政实力较强的东、中部省份。同时，绝大多数项目已完工或建设进度正常，具备项目项下地方政府付款责任条件，为公司向地方政府争取化债资源，推动业务余额压降和风险化解提供了可靠保障。盈利预测：兴业银行巩固“三张名片”，企金客群及贷款规模取得长足发展，继续保持债券承销、并购融资、资产撮合等领域的优势，息差下行趋势减缓，不良指标整体较为稳定。我们预测，2024-2026年归母净利润增速分别为0.17%、3.30%、5.40%，2024-2026年EPS分别为3.72元、3.84元、4.05元。风险因素：业务转型带来的风险；监管政策趋严；经济增速下行风险等。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461551511"}