The Zhitong Finance App learned that domestic bank stocks continued their recent gains, and H shares established diplomatic relations between workers and farmers all reached record highs. As of press release, Postbank (01658) rose 2.45% to HK$5.43; Agricultural Bank (01288) rose 2.44% to HK$6.5; ICBC (01398) rose 1.45% to HK$7.68; and CCB (00939) rose 0.84% to HK$9.58.
According to the news, the semi-annual reports of the six major state-owned banks were all released last Friday. The total revenue for the first half of the year was 2004,987 billion yuan, an increase of 9.38% over the previous year; net profit to mother was 712.598 billion yuan, a year-on-year growth rate of 4.41%. Overall, all six major banks continue to pay mid-term dividends. The total amount of dividends to be paid exceeds 220 billion yuan, an increase of more than 16 billion yuan over the same period last year. It is worth noting that for the first time, the six major banks collectively raised the cash dividend ratio to 31%, further increasing the return to investors.
Citibank said that the six major banks in China collectively raised their dividend payout ratios, which was a positive surprise for the market. According to the bank, based on a sustainable return on equity of about 8% and a sustainable loan growth of about 5%, China's largest banks will gradually increase their dividend payout rate to about 40%. As the Bank of China's dividend payout rate catches up to around 40% of the global interbank industry, H-share Bank of China should be worth reevaluating.