File photo/NBD

On the evening of April 26, Bank of China announced that since April 25th, Ge Haijiao has served as the chairman and executive director of the bank, as well as the chairman and member of the bank's strategic development committee.

Ge Haijiao's appointment as chairman of Bank of China was not unexpected. On the afternoon of March 31st, Bank of China announced that Ge Haijiao was appointed as the bank's party secretary.

It is worth mentioning that as of the close of April 26th, Bank of China's stock price was 3.66 yuan per share, reaching a new high since February 2018. The bank's stock price has risen by more than 15% this year, with a latest market value of 1,009 billion yuan and a dividend yield of 6.04%.

According to statistics, among the six state-owned banks, four have A-share market values of over one trillion yuan, namely Industrial and Commercial Bank of China with 1.60 trillion yuan, China Construction Bank with 1.17 trillion yuan, Agricultural Bank of China with 1.16 trillion yuan, and Bank of China with 1.00 trillion yuan.

In terms of dividend yield, Industrial and Commercial Bank of China has the highest yield at 6.17%, followed by Bank of China at 6.04%, Agricultural Bank of China at 6.10%, and China Construction Bank at 5.73%. In terms of stock price increase this year, Agricultural Bank of China has the largest increase at 16.49%, followed by Bank of China at 15.82%, China Construction Bank at 12.79%, and Industrial and Commercial Bank of China at 9.45%.

Lin Yuanyuan, chief analyst of Bank of China Securities, believes that the dividend yield of large banks is still high and the valuation is still low.

There is still room for market's growth. With the effectiveness of policies and the recovery of the economy, the pressure on large banks to make profits while maintaining growth may gradually ease.

Lin added that after the release of the repricing pressure in the first quarter of this year, the net interest margin pressure of large banks may decrease, and the contribution of loan scale in 2022 and the first quarter of this year is still continuing. The overall performance is expected to improve.