Looking through the announcements of listed banks, it was found that since 2026, 7 banks, including Everbright Bank, Ping An Bank, China Merchants Bank, Bank of Beijing, Bank of Nanjing, China CITIC Bank, and Bank of Jiangsu, have announced the redemption of preferred shares of domestic banks, with a total scale of 155.5 billion yuan, exceeding the redemption scale of domestic bank preferred shares throughout 2025. In a low interest rate market environment, as banks speed up the replacement of existing “high-interest” preferred stocks with low-cost capital instruments, and the stock market shrinks at an accelerated pace, the allocation and securities selection logic of asset management institutions also changed.

Looking through the announcements of listed banks, it was found that since 2026, 7 banks, including Everbright Bank, Ping An Bank, China Merchants Bank, Bank of Beijing, Bank of Nanjing, China CITIC Bank, and Bank of Jiangsu, have announced the redemption of preferred shares of domestic banks, with a total scale of 155.5 billion yuan, exceeding the redemption scale of domestic bank preferred shares throughout 2025. In a low interest rate market environment, as banks speed up the replacement of existing “high-interest” preferred stocks with low-cost capital instruments, and the stock market shrinks at an accelerated pace, the allocation and securities selection logic of asset management institutions also changed.