江苏常熟农村商业银行股份有限公司关于 南京江宁支行、宿迁宿城支行、扬州宝应支行开业的公告 江苏常熟农村商业银行股份有限公司（以下简称"本行"）董事会及全体董 事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 证券代码：601128 证券简称：常熟银行 公告编号：2025-028 本行于 2025 年 2 月 26 日召开 2025 年第一次临时股东大会，审议通过关于 《吸收合并江苏江宁上银村镇银行股份有限公司并设立分支机构》《吸收合并宿 迁宿城兴福村镇银行有限责任公司并设立分支机构》《吸收合并江苏宝应锦程村 镇银行股份有限公司并设立分支机构》的议案，并于 2025 年 6 月 26 日收到同意 吸收合并上述三家村镇银行的监管批复。近日，吸收合并后新设立的南京江宁支 行、宿迁宿城支行、扬州宝应支行相继揭牌开业。 上述三家新机构的开业，进一步打开了本行在江苏区域内的发展版图。下一 步，本行将强化支农支小使命担当，依托"常银微金""常银微科创"等差异化、 特色化的金融服务，全力做深做透南京市场。同时，进一步优化在扬州、宿迁两 市的网点布局，更好地强 ...

国浩律师(苏州) 事务所 关 于 江苏常熟农村商业银行股份有限公司 2025 年第二次临时股东大会 之 法律意见书 國浩律師事務所 GRANDALL LAW FIRM 苏州工业园区 旺墩路 269 号圆融星座商务广场 1 幢 28 楼 邮编: 215028 28/F, Tower 1, Harmony City, No.269 Wangdun Road, SIP, Suzhou 215028 电话/Tel: (86-512) 62720177 传真/Fax: (86-512) 62720199 网址/Website: http://www.grandall.com.cn 法律意见书 致:江苏常熟农村商业银行股份有限公司 国浩律师(苏州)事务所(以下简称"本所")接受江苏常熟农村商业银行 股份有限公司(以下简称"公司")的委托,指派本所律师出席并见证了公司 2025 年第二次临时股东大会(以下简称"本次股东大会")。 二〇二五年六月 国浩律师(苏州)事务所 法律意见书 国浩律师(苏州)事务所 关于江苏常熟农村商业银行股份有限公司 2025 年第二次临时股东大会 之 本所律师根据《中华人民共和国公司法》(以下简称 ...

重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 6 月 30 日 证券代码：601128 证券简称：常熟银行 公告编号：2025-029 江苏常熟农村商业银行股份有限公司 2025年第二次临时股东大会决议公告 江苏常熟农村商业银行股份有限公司（以下简称"本行"）董事会及全体董 事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 (二)股东大会召开的地点：江苏省常熟市新世纪大道 58 号本行三楼多功能厅 (三)出席会议的普通股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 777 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,422,808,260 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 42.9010 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由本行董事会召集，采取现场和网络投票相结合的方式召开， 由薛文董事长主持。本次股 ...

Core Insights - Consumer spending is becoming a key driver of economic growth, with financial institutions playing a crucial role in stimulating domestic demand through targeted support policies [1] Group 1: Product Offerings - The bank has developed a comprehensive product system that combines online and offline offerings to meet diverse consumer needs, including a classic "personal consumption loan" and an innovative online "Xinghui Loan" with a credit limit of up to 500,000 yuan and a 5-year term [2] - The introduction of the "Qingcai Loan" mortgage product aims to alleviate the initial financial burden on young talent purchasing homes, offering flexible repayment options with a minimum principal repayment of 1% in the first five years [3] Group 2: Creative Services and Consumer Ecosystem - The bank is focusing on niche customer needs by creating a scenario-based rights system, such as the "Car Owner Card" that integrates benefits for fuel, car washes, and charging, and the "Feiyan Pet Card" targeting pet owners with shopping discounts and medical installment plans [4] - The bank is enhancing collaboration with enterprises to deepen the penetration of scenario finance by developing exclusive credit policies for employees and conducting group signing events [4] Group 3: Promotional Activities - The bank is implementing various promotional activities to stimulate consumer enthusiasm, including a "50% off storm" campaign in partnership with major brands, covering over 100,000 stores nationwide [5] - Additional initiatives include online promotions for home appliance upgrades and travel, as well as direct customer subsidies for new energy vehicle purchases, with a maximum subsidy of 15,000 yuan [5]

Group 1 - The core viewpoint of the articles highlights the proactive measures taken by Changshu Rural Commercial Bank to support small and micro enterprises through the utilization of municipal refinancing funds, effectively alleviating their financial challenges and boosting local economic development [1][2] - Changshu Rural Commercial Bank has established a new refinancing business model that combines policy support, standardized processes, and efficient services, aiming to provide financial assistance to eligible enterprises with a maximum single loan of 50 million yuan and a low interest rate of 0.03% per day [1] - The bank has optimized its internal processes to enhance efficiency in loan processing, ensuring that eligible enterprises can receive timely financial support, which is crucial for their operational continuity [1][2] Group 2 - A specific case is presented of a small micro enterprise in the supermarket shelf production sector that faced severe cash flow issues due to extended accounts receivable periods and rising operational costs, totaling over 6 million yuan in receivables [2] - The bank successfully facilitated the refinancing process for this enterprise in just five days, demonstrating its commitment to providing rapid financial solutions to support ongoing business operations [2] - Moving forward, Changshu Rural Commercial Bank plans to further develop its refinancing services by simplifying procedures and reducing approval times, aiming to provide stable and efficient financial support to a larger number of small and micro enterprises [2]

Core Viewpoint - The banking industry is experiencing a significant salary reduction trend, particularly affecting high-level executives, with a notable increase in the number of banks reporting salary cuts and the extent of these reductions [2][3][5]. Group 1: Salary Reduction Trends - In 2023, 14 out of 42 listed banks in A-shares reported a decline in average salary, with the maximum drop reaching 13.59%. This number increased to 18 banks in 2024, with the maximum decline expanding to 15% [2]. - The total compensation for bank management decreased from 870 million yuan in 2023 to 700 million yuan in 2024, a drop of 19.5%. Meanwhile, the average salary for bank employees fell from 462,300 yuan to 444,900 yuan, a decrease of 2.68% [6][7]. Group 2: Executive Salary Cuts - A significant 78.5% of the management teams in listed banks saw their salaries decrease year-on-year in 2024. The average salary for executives in various banks has been notably impacted, with some banks experiencing drastic reductions [5][10]. - Specific banks like Everbright Bank and Zhejiang Commercial Bank saw executive salary reductions of 57.9% and 39.72%, respectively, indicating a trend where executive pay is being cut more severely than that of general employees [10]. Group 3: Factors Influencing Salary Changes - The primary driver of salary fluctuations in banks is the variable component of compensation, which is heavily influenced by the banks' revenue and profit conditions. The floating salary constitutes 65% of the total compensation, making it a critical factor [12][13]. - The banking sector is facing significant revenue pressures, with the average net interest margin dropping to 1.52% in 2024, a decline of 17 basis points from 2023. This has led to a 2.20% decrease in net interest income, marking two consecutive years of negative growth [14][15]. Group 4: Structural Adjustments and Policy Impacts - The banking industry is undergoing structural adjustments, with a focus on risk management and governance. Policies such as the "salary limit order" have imposed constraints on executive compensation, leading to a shift in how salaries are structured [16][17]. - The emphasis on "cost reduction and efficiency enhancement" has resulted in banks prioritizing compensation for frontline and value-creating positions, further contributing to the decline in executive salaries [18][17]. Group 5: Performance-Based Salary Recovery - The trend of "reverse salary recovery" has emerged, where banks reclaim performance bonuses from executives based on risk management failures. This practice aims to align compensation with long-term risk management rather than short-term performance [20][21]. - The total amount reclaimed through reverse salary recovery has approached 99 million yuan, indicating a significant shift in the banking industry's approach to executive compensation and risk management [20].

Core Insights - The key to the competition between microfinance and large banks is further penetration and credit assessment, while the competition with internet institutions relies on offline personnel to ensure loan authenticity [1] - Changshu Bank has emerged as a benchmark in microfinance, concentrating 70% of its workforce on this sector, growing its microfinance team from an initial 10 to over 2,000 professionals [1][7] - The unique talent cultivation mechanism at Changshu Bank, which integrates recruitment, training, assessment, and incentives, is closely linked to its microfinance strategy [1][7] Recruitment and Talent Selection - Emphasis on moral character and learning ability during recruitment helps ensure alignment with microfinance principles and reduces moral risks [2] - Changshu Bank prioritizes candidates with strong moral character to mitigate risks associated with data manipulation and collusion [2] - The bank values learning ability over high academic qualifications, with 70% of new hires being recent graduates, fostering a culture of innovation within the microfinance team [2] Training and Development - Establishment of an internal trainer selection and experience transmission mechanism encourages participation and knowledge sharing among employees [3] - The bank promotes a culture of internal training, with 545 internal trainers and 971 hours of training delivered by the end of 2024 [3] - A comprehensive training structure ensures all employees receive necessary training, including new employee orientation and specialized skill enhancement programs [4] Performance Assessment and Incentives - A distinct performance evaluation system links microfinance loan issuance to annual business goals, effectively guiding employee performance [5] - The bank has implemented strict behavioral standards to prevent moral hazards, including a zero-tolerance policy for unethical practices [6] - A due diligence exemption system is in place to protect employees who conduct thorough investigations, with 86% of recognized microfinance non-performing loans deemed compliant with due diligence standards [6]

证券代码：601128 证券简称：常熟银行 公告编号：2025-027 今日，本行收到《苏州金融监管分局关于唐志锋常熟农村商业银行董事任职 资格的批复》（苏州金复〔2025〕81号），核准唐志锋先生本行董事任职资格。 唐志锋先生的简历详见本行2025年3月28日刊载于上海证券交易所网站 （www.sse.com.cn）的《常熟银行第八届董事会第十次会议决议公告》（2025-007）。 特此公告。 江苏常熟农村商业银行股份有限公司董事会 2025年6月18日 江苏常熟农村商业银行股份有限公司 关于唐志锋先生董事任职资格获核准的公告 江苏常熟农村商业银行股份有限公司（以下简称"本行"）董事会及全体董 事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company announced its first mid-term dividend plan, reflecting its commitment to shareholder returns and ability to enhance dividend amounts by increasing capital stock by 10% annually in 2024 and 2025 [2][11]. - The bank is accelerating its branch expansion, including the absorption of Jiangsu Rudong Rongxing Village Bank and the establishment of a technology branch in Suzhou High-tech Zone, indicating a clear path for growth [2][11]. - The bank's performance remains strong, with a focus on improving asset quality and maintaining a leading position in industry growth rates [11]. Summary by Sections Company Investment Rating - The current stock price is 7.39 yuan, with a total share capital of 331,649 million shares and a net asset per share of 9.57 yuan [9]. Dividend Policy - The company plans to implement mid-term dividends for the first time, with expectations to increase the dividend per share (DPS) to 0.28 yuan or 0.30 yuan in 2025, resulting in dividend yields of 3.8% and 4.0% respectively [11]. Branch Expansion - The bank has accelerated its branch expansion since Q4 2024, with a clear growth trajectory through various acquisition and establishment strategies, including the absorption of village banks and the establishment of new branches [11][12]. Financial Performance - The bank's net interest margin remains significantly above industry averages, and it is expected to maintain a steady credit growth rate of around 8% in 2025 [11]. - The bank's non-performing loan ratio is projected to improve, with a focus on risk management and asset quality [11]. Market Position - The bank is currently valued at 0.77 times its 2025 price-to-book ratio, indicating it is undervalued compared to historical levels, and is recommended for investment due to its competitive advantages and growth potential [11].

截至2025年6月13日收盘，常熟银行（601128）报收于7.39元，较上周的7.24元上涨2.07%。本周，常熟 银行6月13日盘中最高价报7.49元。6月9日盘中最低价报7.1元。常熟银行当前最新总市值245.09亿元， 在农商行板块市值排名3/10，在两市A股市值排名613/5150。 本周关注点 交易信息汇总 常熟银行本周出现两笔折价明显的大宗交易：- 6月11日，1笔折价11.04%的大宗交易，合计成交226.2万 元。- 6月10日，1笔折价10.21%的大宗交易，合计成交199.86万元。 公司公告汇总第八届董事会第十二次会议决议公告 江苏常熟农村商业银行股份有限公司第八届董事会第十二次会议于2025年6月13日召开，审议通过以下 议案：- 提请股东大会授权董事会决定2025年中期利润分配方案。- 变更注册资本并相应修改《公司章 程》有关条款，注册资本由人民币3,014,978,914元变更为人民币3,316,485,099元，该议案还需提交股东 大会审议并经国家金融监督管理总局苏州监管分局核准。- 吸收合并江苏如东融兴村镇银行有限责任公 司并设立分支机构，该议案也需提交股东大会审议。- 设立 ...