复盘:ROE 彰显盈利韧性,增量资金追逐确定性价值。2025 年前三季度,行业年化平均ROE 维持在10.73%,尽管受宏观环境影响有所下行,但横向比较仍处于中上游水平,盈利韧性凸显。市场表现方面,截至11 月末,申万银行板块上涨9.16%,各子板块实现普涨。板块走出逆周期行情,主要得益于险资等增量资金的持续流入,以及低利率环境下银行股高股息、盈利确定性的配置吸引力。基本面展望:政策协同稳增长,...
Source Link复盘:ROE 彰显盈利韧性,增量资金追逐确定性价值。2025 年前三季度,行业年化平均ROE 维持在10.73%,尽管受宏观环境影响有所下行,但横向比较仍处于中上游水平,盈利韧性凸显。市场表现方面,截至11 月末,申万银行板块上涨9.16%,各子板块实现普涨。板块走出逆周期行情,主要得益于险资等增量资金的持续流入,以及低利率环境下银行股高股息、盈利确定性的配置吸引力。基本面展望:政策协同稳增长,...
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