金吾财讯 | 中信证券表示，金融数据显示，三季度银行资产投放主要由政府债券支撑，社融总量保持稳定。信贷需求仍需提振，居民与企业贷款需求均不旺，有待消费及地产新政显效。三季度银行负债端结构变化显著，居民和企业存款下降，非银存款大幅增长，反映投资渠道多元化趋势，加大银行的负债管理难度。利率方面，8月份新发放的企业贷款利率较二季度下降约10个基点，个人住房贷款利率则基本平稳，预计资产收益率仍有小幅下行空间，但存款成本节约有助息差预期稳定。银行中报盈利企稳修复，修复幅度略超预期。具体而言，息差预期走稳，投资收益贡献收入，资产质量形势稳定，单季度盈利改善幅度明显，预计全年盈利增速仍有上行空间。市场层面看，稳定的基本面格局夯实投资者配置板块信心，看好后续绝对收益行情继续演绎。个股选择方面，由于银行板块贝塔表现底部恢复，个股转向阿尔法策略更具空间，建议关注细分子行业中ROE高且稳定性强、估值空间乐观的银行。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.