Group 1 - The banking sector experienced a decline of 0.53% on January 30, with Huaxia Bank leading the drop [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] - Major banks such as China Merchants Bank and CITIC Bank showed mixed performance, with China Merchants Bank slightly up by 0.36% and CITIC Bank down by 0.28% [1] Group 2 - The banking sector saw a net outflow of 665 million yuan from institutional investors, while retail investors contributed a net inflow of 564 million yuan [1] - Specific banks like Huaxia Bank and Minsheng Bank faced significant net outflows from institutional investors, with Huaxia Bank seeing a net outflow of 67 million yuan [1] - Retail investors showed a preference for certain banks, with significant net inflows into banks like Ping An Bank and Zhejiang Commercial Bank [1]

Core Viewpoint - The overall performance of the banking industry shows a steady improvement in asset scale expansion, profitability, and risk management as ten listed banks report their preliminary performance for 2025 [1] Group 1: Asset Scale Expansion - Ten banks achieved steady growth in total asset scale, with some banks reaching new milestones; for instance, China Merchants Bank's total assets exceeded 13 trillion yuan for the first time, reaching 13.07 trillion yuan, an increase of 918.49 billion yuan or 7.56% year-on-year [3][5] - CITIC Bank and Shanghai Pudong Development Bank both surpassed the 10 trillion yuan mark in total assets, indicating a significant expansion in their asset scale [5][4] - By the end of 2025, the total assets of CITIC Bank reached 10.13 trillion yuan, growing by 6.28%, while Shanghai Pudong Development Bank's total assets reached 10.08 trillion yuan, increasing by 6.55% [5][6] Group 2: Profitability Performance - Nine banks reported both revenue and net profit growth, with notable performances from Hangzhou Bank, Shanghai Pudong Development Bank, and Qingdao Bank, which achieved double-digit growth in net profit [8] - In 2025, Hangzhou Bank's operating income was 38.80 billion yuan, a year-on-year increase of 1.09%, with net profit attributable to shareholders reaching 19.03 billion yuan, up 12.05% [8] - Shanghai Pudong Development Bank's operating income was 173.96 billion yuan, an increase of 1.88%, while net profit attributable to shareholders rose by 10.52% to 50.02 billion yuan [9][10] Group 3: Risk Management - Half of the banks reported a decline in non-performing loan (NPL) ratios, indicating effective risk management; for example, CITIC Bank's NPL ratio was 1.15%, down by 0.01 percentage points [12][11] - The overall NPL ratio for the ten banks remained stable, with five banks showing a decrease, while others maintained their ratios, reflecting strong asset quality management [12][11] - The provision coverage ratio for eight banks decreased, but remained at sufficient levels to absorb potential risks, with Shanghai Pudong Development Bank and Qingdao Bank being the exceptions, as their ratios increased [15][14]

中信、浦发资产规模破十万亿，城商行保持两位数高增 具体来看，中信银行、浦发银行资产规模双双迈入十万亿关口；9家银行实现营收净利双增长，城商行 增速表现亮眼；半数银行不良率下行，拨备出现回调但风险缓冲空间依旧充足。 截至目前，10 家上市银行 2025 年业绩快报首批亮相。整体上，行业规模扩张、盈利表现、风险管控三 大核心维度均呈现稳健向好态势。 2025年，10家银行总资产规模均实现了稳步增长，且部分银行资产规模上了新台阶。其中，招商银行资 产总额首次超过13万亿元，截至2025年12月31日，招商银行资产总规模13.07万亿元，较上年末增加 9184.87亿元，增幅7.56%；负债总额11.79万亿元，较上年末增加8710.63亿元，增幅7.98%。 兴业银行总资产也突破11万亿元，截至年末达11.09万亿元，同比增长5.57%。从核心业务来看，其各项 贷款余额5.95万亿元，同比增长3.70%；各项存款余额5.93万亿元，同比增速达7.18%，存款端增长势头 强劲。 值得关注的是，中信银行、浦发银行的资产规模双双迈进10万亿元大关。 而截至2025年末，中信银行、浦发银行双双迈过十万亿门槛，使该俱乐部成员 ...

Core Viewpoint - The report highlights a decline in the scale of bank wealth management sales in December 2025, with a total of 13.46 trillion yuan, a decrease of 1.05% from November, but an increase of 10% from the beginning of the year. The growth is attributed to a "deposit migration" logic, indicating a shift in customer preferences towards wealth management products [2][6]. Group 1: Bank Performance - Postal Savings Bank showed a remarkable growth rate of 27.2%, leading among the 11 national banks, while China Merchants Bank followed with a 12.2% increase [2][4]. - In absolute terms, China Merchants Bank led with a wealth management sales scale of 4.41 trillion yuan, followed by CITIC Bank and Industrial Bank, each exceeding 1 trillion yuan [2][4]. - The ranking of the 11 banks remained relatively stable, with Postal Savings Bank rising from 7th to 4th place by the end of the year [2][4]. Group 2: Market Dynamics - The overall wealth management sales scale of the 11 banks increased by 1.22 trillion yuan, reflecting a 10% growth from the beginning of the year, with three banks (Postal Savings, China Merchants, and Huaxia) achieving growth rates above 10% [5][6]. - The average yield of wealth management products fell below 2% for the first time, at 1.98%, yet the number of investors increased by 14.37%, indicating a strong demand for stable-return products [8][9]. - The "deposit migration" narrative remains a key driver for the growth of wealth management, as banks focus on deeper market penetration and optimizing customer service [9][10]. Group 3: Future Outlook - Predictions suggest that by the end of 2026, the wealth management scale could reach approximately 38 trillion yuan, with a growth rate of around 12% [11]. - The average risk index is expected to gradually rise, and the proportion of long-term products is anticipated to increase, while T+0 products will decrease [11].

Core Viewpoint - Shanghai Pudong Development Bank (SPDB) has been awarded "Best Cross-Border Financial Bank" and "Outstanding Technology Financial Bank" at the 2025 (13th) Comprehensive Bank Evaluation, reflecting its strong performance in cross-border and technology finance sectors [1][3]. Group 1: Awards and Recognition - The annual bank evaluation, organized by Sina Finance, has been held for thirteen years and includes multiple assessment stages such as online voting, third-party research, expert reviews, and comprehensive audits [1][3]. - SPDB's recognition highlights its comprehensive strength and professional competence demonstrated over the past year [1][3]. Group 2: Strategic Initiatives - Since 2025, SPDB has implemented the spirit of the 20th National Congress and subsequent plenary sessions, aligning with Shanghai's municipal government decisions and regulatory requirements [2][3]. - The bank has focused on deepening its financial services in five key areas to support the construction of Shanghai's five centers [2][3]. Group 3: Financial Performance - As of the end of 2025, SPDB's total assets exceeded 10 trillion yuan, increasing by 619.87 billion yuan, a growth of 6.55% from the previous year [4][5]. - The total liabilities reached 9.2573 trillion yuan, up by 540.22 billion yuan, marking a 6.20% increase [4][5]. - The bank reported an operating income of 173.964 billion yuan, a year-on-year increase of 3.216 billion yuan, or 1.88% [4][5]. - The net profit attributable to shareholders was 50.017 billion yuan, reflecting a year-on-year increase of 4.760 billion yuan, or 10.52% [4][5]. Group 4: Future Outlook - SPDB aims to leverage its recent awards to reinforce its commitment to serving the nation and the public, focusing on national strategic deployments and enhancing its digital transformation [2][5]. - The bank plans to optimize financial supply and strengthen risk prevention measures to better serve the real economy and contribute to the construction of a strong financial nation [2][5].

Group 1: Core Insights - The 2025 annual performance reports of 10 listed banks in A-shares show a year-on-year increase in net profit and stable asset growth, with some banks achieving double-digit growth in key sector loan balances [1][2] - The reported banks include four joint-stock banks, five city commercial banks, and one rural commercial bank, all of which have demonstrated revenue and net profit growth [2][3] Group 2: Financial Performance - Among the joint-stock banks, China Merchants Bank leads with a net profit of 150.18 billion yuan, a year-on-year increase of 1.21%, while Shanghai Pudong Development Bank shows a remarkable growth of 10.52% [2][3] - City commercial banks and rural commercial banks also reported revenue and net profit growth, with Ningbo Bank and Nanjing Bank showing significant increases in revenue [2][3] Group 3: Asset Quality and Risk Management - The asset quality of the 10 listed banks remains stable, with non-performing loan ratios ranging from 0.76% to 1.26%, and several banks have seen a decrease in their non-performing loan ratios compared to the previous year [7] - The overall provision coverage ratio has declined for most banks, indicating a strategic release of provisions to support net profit while maintaining a solid risk buffer [7]

Core Viewpoint - The article highlights the growing importance of data asset financing in supporting technology-driven companies in Shaanxi, with a focus on the innovative financial products being developed to address the challenges faced by these companies in monetizing their data assets [1][3]. Group 1: Company Developments - Shaanxi Kunxiang plans to expand its smart parking service market and has successfully secured a data asset pledge loan of 4.95 million yuan from SPD Bank, marking a significant step in utilizing data assets for financing [1]. - The company has developed various intelligent products, including a smart parking client and a city-level static traffic management platform, accumulating substantial parking data resources [1]. - R&D expenditures account for over 60% of the company's total costs, indicating a strong commitment to innovation [1]. Group 2: Financial Innovations - SPD Bank's Xi'an branch has provided loans to 990 technology companies in 2025, reflecting a net increase of 158 companies since the beginning of the year, showcasing the bank's role in supporting tech innovation [3]. - The bank has established a collaborative mechanism involving banks, exchanges, enterprises, and professional institutions to address challenges related to data asset valuation and financing [1][2]. - The bank utilizes blockchain technology to ensure data security during the asset valuation and pledge registration process [2]. Group 3: Regional Financial Initiatives - In 2025, Shaanxi introduced 50 measures to promote technology finance, aiming to support the transformation of technological achievements and address the financing difficulties faced by tech companies [3]. - The Shaanxi Provincial Science and Technology Innovation Fund was established with an initial scale of 10 billion yuan, focusing on strategic emerging industries and future industries [4]. - The fund has already approved investments in 12 sub-funds, with a total commitment of 5.7 billion yuan, indicating strong interest from top investment institutions [4]. Group 4: Overall Financial Growth - By the end of 2025, the balance of technology loans in Shaanxi reached 882.215 billion yuan, reflecting a growth of 12.41%, which is significantly higher than the average growth rate of other loans [5]. - The establishment of AIC pilot funds in the province has led to the launch of 9 funds with a total scale of 8 billion yuan, supporting small and micro technology companies [5].

Core Viewpoint - The 2025 annual performance reports of A-share listed banks indicate a general increase in net profit and asset scale, with many banks showing significant growth in key sector loans, despite a decline in provision coverage ratios [1][2][3]. Group 1: Net Profit Growth - All 10 disclosed banks reported year-on-year growth in net profit, with notable performances from specific banks: China Merchants Bank led with a net profit of 150.18 billion yuan, up 1.21% year-on-year, while Shanghai Pudong Development Bank showed a remarkable increase of 10.52% [2][3]. - Among the city commercial banks and rural commercial banks, all reported both revenue and net profit growth, with Ningbo Bank and Nanjing Bank achieving significant revenue figures of 71.97 billion yuan and 55.54 billion yuan, respectively [2][3]. Group 2: Asset Scale and Quality - The total assets of the 10 listed banks showed steady growth, with several joint-stock banks reaching new milestones; for instance, China CITIC Bank and Shanghai Pudong Development Bank both surpassed 1 trillion yuan in total assets [4]. - The asset quality remained robust, with non-performing loan (NPL) ratios ranging from 0.76% to 1.26%, and several banks, including Ningbo Bank and Hangzhou Bank, maintaining the lowest NPL ratios at 0.76% [6][7]. Group 3: Loan Growth in Key Sectors - City commercial banks demonstrated strong loan growth, with Ningbo Bank and Xiamen Bank reporting loan growth rates of 17.43% and 18.39%, respectively, surpassing their total asset growth rates [5]. - Specific sectors such as green and technology loans saw significant increases, with Xiamen Bank's green loans growing by 68.55% year-on-year, indicating a focus on strategic lending [5].

Core Viewpoint - The performance of A-share listed banks shows resilience despite challenges such as declining interest rates and narrowing interest margins, with all 10 banks reporting positive growth in net profit attributable to shareholders for 2025 [1][4]. Group 1: Financial Performance - As of January 29, 2026, 10 A-share listed banks reported their 2025 performance, with 9 banks achieving both revenue and net profit growth [1]. - Qingdao Bank led with a 21.66% increase in net profit, reaching 5.188 billion yuan, while its revenue grew by 7.97% to 1.457 billion yuan [1]. - Hangzhou Bank and Pudong Development Bank also showed strong net profit growth rates of 12.05% and 10.52%, respectively [2]. Group 2: Asset Growth - All 10 banks reported positive growth in total assets for 2025, with four banks reaching new asset scale milestones [2]. - China Merchants Bank's total assets exceeded 13 trillion yuan, making it the largest among the disclosed banks, while Industrial Bank reached 11 trillion yuan [2]. - City commercial banks demonstrated significant asset growth, with Nanjing Bank and Ningbo Bank increasing their total assets by 16.63% and 16.11%, respectively [2]. Group 3: Asset Quality - The non-performing loan (NPL) ratios of the 10 banks remained low, with several banks reporting stable or slightly declining rates [3]. - Ningbo Bank and Hangzhou Bank had NPL ratios of 0.76%, while Qingdao Bank's NPL ratio decreased to 0.97% [3]. - The provision coverage ratios, although slightly decreased, remained at sufficient levels, with Hangzhou Bank exceeding 500% [3]. Group 4: Strategic Responses - Banks are adapting to industry challenges by optimizing their income structure and focusing on middle business income sources [4]. - City commercial banks and joint-stock banks are actively pursuing new growth engines through specialized business development, particularly in technology and green finance [4]. - Despite positive profit growth, many banks face pressure on return on equity (ROE) due to asset scale expansion [4][5]. Group 5: Market Outlook - Analysts suggest that the banking sector's investment logic has shifted from "valuation recovery" to "dividend returns + profit resilience" [6]. - City commercial banks and rural commercial banks are expected to outperform the industry due to their regional advantages and understanding of local financial needs [5][6].

Core Viewpoint - The performance indicators of the banking industry in 2025 show significant improvement, with operational trends becoming more favorable and asset quality continuously optimizing [3]. Revenue Performance - As of January 29, 2026, among the 10 listed banks that disclosed their 2025 performance reports, 9 banks reported revenue growth, while only one bank (CITIC Bank) experienced a decline [5]. - Among the four major joint-stock banks, three achieved total revenues exceeding 200 billion yuan, with Shanghai Pudong Development Bank leading in growth at 1.88%, followed by Industrial Bank at 0.24%, and China Merchants Bank at 0.01%. CITIC Bank reported a revenue decline of 0.55% [5][6]. Net Profit Growth - All 10 listed banks reported positive growth in net profit attributable to shareholders in 2025, with 9 banks achieving both revenue and profit growth, indicating overall stable performance [8]. - China Merchants Bank led with a net profit of 150.18 billion yuan, a year-on-year increase of 1.21%. Industrial Bank followed with a net profit of 77.47 billion yuan, up 0.34%, while CITIC Bank reported a net profit of 70.62 billion yuan, up 2.98%. Shanghai Pudong Development Bank's net profit grew significantly by 10.52% to 50.02 billion yuan [8][10]. Asset Quality - The non-performing loan (NPL) ratio among the 10 banks showed a general decline, with five banks reducing their NPL ratios compared to the previous year, while three remained stable and two saw slight increases [12]. - The overall NPL ratio for the banks improved, with Shanghai Pudong Development Bank showing the most significant decline of 0.1 percentage points to 1.26%. China Merchants Bank and CITIC Bank both decreased by 0.01 percentage points to 0.94% and 1.15%, respectively [12][15]. - The provision coverage ratio saw a general decline, with eight banks reporting lower ratios compared to the previous year, although the overall provision cushion remains adequate [13]. Future Outlook - The banking sector is expected to benefit from monetary policy easing, which may alleviate margin pressures and support profit growth through liability optimization and business structure adjustments [18]. - Banks are focusing on quality and efficiency in operations, with an emphasis on risk management and customer base strengthening as they navigate ongoing industry challenges [18].