CITIC Securities: How to look ahead at banks' third-quarter performance?

CITIC Securities released a research report stating that, thanks to the continuation of volume-price balance and other non-interest income contributions, we expect the revenue and net profit attributable to parent company growth rates of A-share listed banks in the first three quarters to be +7.2%/+3.2%, respectively. With revenue growth remaining at a high level, profit growth is still in an improving channel. Comparing individual banks, those with superior marginal performance in the third quarter may be concentrated among: some large banks with better volume-price balance performance that also benefit from the listing of large technology companies; and among small and medium-sized banks, high-quality names that benefit from trading bond gains and face less asset quality pressure.