Huatai Securities: The turning point for interest rate spreads stabilizing is approaching; seize the structural opportunities in quality banks

GateUser-bd883c58 · 2026-04-08T08:00:17+00:00

Huatai Securities research reports expect the performance growth of listed banks to improve by 2025, with revenue and net profit attributable to the parent increasing by 1.4% and 1.6%, respectively. The main reasons include stabilized net interest margins and growth in non-interest income. Key focus areas include stable net interest margins, divergence in non-interest income, and scale expansion, along with improvements in non-performing loans. Recommended are high-quality banks with both dividend and growth potential.

GateUser-bd883c58

2026-04-08 08:00:17

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Daily Economic News AI Express, a research report from Huatai Securities says that in 2025, the performance growth rate of listed banks in the industry will improve. Revenue and net profit attributable to shareholders will increase year over year by +1.4% and +1.6%, respectively. The growth rates will be up by +0.6 percentage points and +0.3 percentage points compared with 9M25. The improvement is mainly driven by the stabilization of the net interest margin on the margin and a boost from non-interest items. Key things to watch: 1) In 2025 Q4, the sample of listed banks sees the net interest margin on the margin stabilize, driving an improvement in the growth rate of net interest income; 2) Fee income recovery supports growth, with non-interest growth showing differentiation; 3) The marginal acceleration in listed bank size growth continues, with the trend toward time deposits persisting; 4) A deterioration in recorded non-performing loans improves on paper. Stock-specific watch items: 1) High-quality banks that combine dividend/“value” characteristics with growth attributes; 2) Banks with standout dividend value.

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