Galaxy Securities: Positive factors of bank fundamentals continue to accumulate, expected to usher in a turning point in performance.

Galaxy Securities research report indicates that in the first quarter of 2025, the short-term performance of the banking industry will be disrupted by non-interest income, but the improvement in core income growth will continue, the narrowing of interest rate differentials, and the opening up of space for incremental credit expansion. A package of financial policies has been introduced, with reserve requirement and interest rate cuts implemented, and structural tools added to guide the optimization of the credit structure of banks. The positive factors of the banking sector's fundamentals continue to accumulate, and a turning point in performance is expected. The entry of medium and long-term funds into the market is expected to accelerate the realization of the banking dividend value.