Everbright Bank Roadshow In Transit testifiedthat performance is not backward

Everbright Bank (601818.SH) continued the "Speed of Light" listing tour.　　Yesterday, at the Shenzhen Futian Shangri-La Hotel's a-share IPO road scene, on behalf of Everbright Bank purple Dazzling dazzling, the heads of major organizations gathered in a hall with Everbright Bank Management to open a dialogue.　　"The first financial daily" from the scene of the number of institutions responsible for understanding that Everbright Bank's IPO price in 2.8 yuan ~3.2 will be more reasonable, but the scene of Everbright Bank management did not make a statement on the issue price. "If it is compared to a car, the first 10 years of its oil level is always on the cordon, so run slower, now give it a chance to fill it with oil, to prove that it is also able to run fast."　　"Yesterday in Shanghai, Everbright Bank's main underwriter, CICC, so to the institutional investors. Everbright Bank issued a letter of intent, investors on the bank's query continued, the problem is mainly focused on: business qualification, historical baggage, equity risk.　　In this respect, CICC yesterday to support Everbright Bank performance is good.　　At the same time, the road scene in Shenzhen, Everbright Bank executives also listed profitability, asset quality, business structure and other data and indicators to testifiedthat the company's performance "is good." However, there are still investors questioned: people (other joint-stock banks) have already run in front, (Everbright Bank) Now full of oil, can not keep pace?　　Is the space big enough?　　NET spreads are expected to boost Everbright Bank's board secretary, Lu Hong, said the company's net interest margin was expected to rise significantly in the first half of 2010, and the company will continue its efforts to raise the level of spreads.　　In 2009, Everbright Bank net interest margin was only 1.95%, while other listed banks had a net interest margin of over 2% over the same period.　　Lu Hong pointed out that, in the case of limited capital last year, Everbright Bank invested more capital and relatively low income, including large loans to large and medium-sized enterprises, the yield is relatively low.　　CICC said in Shanghai yesterday that the factors that led to low net interest rates included relatively high share of low-yielding assets, higher bills discounting, lower risk appetite and lower loan yields in joint-stock banks. However, CICC said the spreads on Everbright Bank were rising faster than the peers. The net spreads of Everbright Bank have rebounded to 2.12% in the first half of this year, reaching 2.15% in two. "China Merchants Securities Research Report also pointed out that the pricing structure of Everbright Bank can be seen, the overall low pricing capacity of public loans;" In 2009, Everbright Bank's loan weighted average interest rate was 4.72%, at the lower level.　　In addition, the company's deposit real interest rate is 1.75%, higher than other listed banks.　　Lu Hong also believes that Everbright Bank's personal housing loan business accounted for relatively high, along with such loans from the past benchmark interest rate of "70 percent" to higher interest rates, is expected to improve the spreads, but also help to improve the return on assets. The lower cost-income ratio is considered an advantage for the row. China Gold Securities in yesterday's analysis of the report, said 2009 lightThe big bank per capita wages 281,100 yuan, in the joint-stock bank low level.　　China Everbright Bank, which has the lowest spreads but not the least profitable, says the company said that the lack of competitiveness of employees ' benefits may lead to a weaker overall level of business as a result of lower cost costs. Non-interest income growth quickly Everbright Bank governor Guo You said yesterday that the construction machinery loan is Everbright Bank has its own characteristics of personal loan products.　　He pointed out that the Everbright bank construction machinery loans accounted for the increasing proportion of personal loans, such loans are mainly the rate of return on the basis of floating, thereby improving the overall rate of return on personal loans, to make up for the housing loan low interest "deficiencies."　　Everbright Bank prospectus shows that as of 2009, construction machinery loans balance of 26.481 billion yuan, accounting for 4.3% of total loans, 2009 and 2008 Year-on-year growth of 41.2% and 58% respectively. At yesterday's Shenzhen promotion meeting, company executives said Everbright Bank will continue to vigorously develop intermediary business. 2009, Everbright Bank's non-interest income growth was mainly due to the rapid growth in fees and commissions net income, 2009 and 2008 Year-on-year growth of 45.2% and 82.7%, 2009 reached 3.157 billion yuan, the proportion of operating income from 2007 increased from 5.9% to　　2009 of the 13%.　　Local financing platform loans accounted for 28% yesterday, CICC also disclosed Everbright Bank's local financing platform loan status.　　Data show that as of the end of June this year, Everbright Bank involved government financing platform loan balance of 204.091 billion yuan, accounting for 28% of total loans, of which non-performing loan balance of 550 million yuan, non-performing loan rate of 0.27%.　　Divided by the administrative level, the provincial government financing platform loan balance accounted for 28.2%, the city-level government financing platform loans accounted for 50.11%, the District-level government financing platform loans accounted for about 21.69%.　　In the distribution of loans to the region, the Yangtze River delta area accounted for about 37.66%, the Bohai Sea area accounted for 15.79%, the Pearl River Delta region accounted for 10.07%, the Midwest accounted for 5.73%.　　The specific loan main body, the urban investment construction class approximately occupies 32.53%, the transportation class 23.12%, the development zone, the park class approximately occupies 15.22%, the soil storage Center class approximately occupies 13.62%, the state-owned assets management company class approximately occupies 10.74%, other class approximately accounts for 4.77%. In terms of credit rating, the first category of loans accounted for 86%, the second type of loans accounted for 9%, and the third type of loans accounted for 5%. In accordance with the standards of the CBRC, local government financing platform loans are divided into three categories: the first type of financing platform companies to undertake the construction and operation of public welfare projects, mainly rely on financial funds to repay debts; the second type is to undertake the construction and operation of Commonweal projects, the project itself has stable operating income and mainly rely on its own income to repay the debt　　The third category of debts incurred by the construction and operation of non-commonweal projects. CICC saidThe local financing platform of Everbright Bank is not very different from that of the same industry, but the third type of loan is significantly lower than that of the peers. Ji Qing Li Yu