证券日报网讯12月16日，紫金银行（601860）在互动平台回答投资者提问时表示，根据2025年第三季度 报告，截至2025年9月30日，股东总数为63025户。 ...

赋能乡村产业发展 紫金农商银行瞄准"三农"领域核心需求，精准发力。深耕主体，全面走访。对省农业农村厅下发的3289 户苏农贷新型农业经营主体及26.6万农户进行"地毯式"走访，实现全覆盖，精准掌握需求。积极参 与"科金兴农"对接活动，打造全产业链服务模式，已对260户产业链企业授信，放贷6.8亿元。力挺项 目，夯实根基。积极对接南京市重大农业农村项目，投放贷款4.2亿元。支持基本农田和高标准农田建 设，发放贷款2.2亿元，筑牢粮食生产根基。围绕春耕备耕、"三夏"等关键农时，投放2.4亿元贷款，保 障粮食生产信贷需求强化与种业企业合作，种业贷款余额1亿元，助力种业高质量发展。 多元服务提质效， 提升乡村幸福指数 作为扎根地方的金融主力军，紫金农商银行始终将服务"三农"作为立行之本、发展之基，以金融活水精 准浇灌广袤乡村。截至2025年9月，该行普惠型涉农贷款余额达36.59亿元，较年初增长2.11亿元，增速 达6.12%，高于全行贷款平均增速，交出了一份助力乡村振兴的亮眼答卷。 构筑高效服务链， 疏通"三农"融资血脉 为打通金融服务"三农"的"最后一公里"，紫金农商银行着力构建高效、便捷的服务体系。专设机构，精 ...

Investment Rating - The report assigns an "Overweight" rating for the banking sector [7]. Core Insights - The report emphasizes the significant improvement in the cost of liabilities for banks in 2025, with a notable decrease of 28 basis points (bp) in the first half of the year, compared to only 4 bp in the same period last year. This improvement is primarily driven by reductions in deposit and interbank liabilities costs, contributing 19 bp and 7 bp respectively [3][11]. - The net interest margin (NIM) is expected to decline by approximately 5 bp in 2026, with the downward pressure on margins continuing to ease marginally, suggesting that some banks may stabilize their NIMs [2][10]. Summary by Sections 1. Liability Cost Improvement in 2025 - The first half of 2025 saw a significant reduction in the cost of interest-bearing liabilities, with the cost rate dropping to 1.70%, a decrease of 28 bp from 2024. This was supported by improvements in both deposit and interbank liability costs [11]. 2. Liability Side: Deposit Maturity and Repricing Benefits 1) **Term Structure**: The proportion of long-term deposits entering the repricing cycle has increased, with the share of deposits with a remaining maturity of 1-5 years declining by 1.5 percentage points (pct) to 22.6% by the end of Q2 2025. Some banks, such as those in Ningbo and Chongqing, experienced declines exceeding 10 pct [4]. 2) **Price Factors**: Regulatory focus on maintaining reasonable NIM levels has increased, with expectations of further interest rate cuts. The maximum reduction for three-year deposits could exceed 100 bp, indicating substantial room for cost improvement [5]. 3. Asset Side: Yield Pressure Expected to be Better than 2025 1) **Loans**: The repricing pressure on loans is expected to ease, with the five-year Loan Prime Rate (LPR) declining by only 10 bp in 2025, significantly less than the 50 bp drop the previous year [6]. 2) **Debt Replacement**: The shift from high-interest to low-interest debt is anticipated to have a limited impact on net interest margins, estimated to drag down margins by about 4 bp [6]. 3) **Bond Maturity**: The widening gap between new bond issuance rates and existing bond yields is expected to exert downward pressure on investment yields, with an estimated drag of 6 bp on margins from the reallocation of bonds maturing within one year [6]. 4. NIM Projections - The report forecasts a 5 bp decline in NIM for 2026, with the downward trend continuing to converge. The asset yield is expected to decrease by 17 bp, while the cost of liabilities is projected to improve by 13 bp, with deposit costs improving by 17 bp [7][10].

证券之星消息，12月8日农商行板块较上一交易日上涨0.21%，沪农商行领涨。当日上证指数报收于 3924.08，上涨0.54%。深证成指报收于13329.99，上涨1.39%。农商行板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 601825 | 沪农商行 | 9.52 | 1.17% | 21.45万 | | 2.04亿 | | 601128 | 常熟银行 | 7.13 | 0.28% | 36.98万 | | 2.63亿 | | 603323 | 示农银行 | 5.19 | 0.00% | 26.33万 | | 1.37亿 | | 002958 | 青农商行 | 3.20 | 0.00% | 52.36万 | | 1.68亿 | | 600908 | 元锡银行 | 6.08 | -0.33% | 17.86万 | | 1.09亿 | | 002839 | 张家港行 | 4.70 | -0.42% | 39.77万 | | 1.87亿 | | 601077 ...

Core Viewpoint - The recent increase in institutional research on local listed banks, particularly city and rural commercial banks, is driven by improving fundamental indicators, investment value, and market performance, with a generally optimistic outlook on net interest margins and dividend prospects [1][3]. Group 1: Institutional Research Activity - As of December 3, 12 listed banks have received 195 research visits from 81 institutions since November, a significant increase from October's 58 visits [1][2]. - The banks involved in this round of research are all regional institutions, including Ningbo Bank, Hangzhou Bank, and others [2]. - Year-to-date, 25 banks have been researched, with Ningbo Bank and Hangzhou Bank leading in the number of visits, receiving 323 and 285 visits respectively [3]. Group 2: Outlook on Net Interest Margins - Institutions are focusing on dividend plans, net interest margin outlooks, and response measures during their research [4]. - Despite a historical low net interest margin of 1.42% as of Q3, many banks express optimism about future trends, citing potential stabilization [4][5]. - Banks are adjusting their asset-liability structures and reducing deposit rates to manage the pressure on net interest margins [5]. Group 3: Dividend Stability and Plans - The upcoming mid-term dividends for A-share listed banks in 2025 have become a focal point for institutions, with banks like Ningbo Bank and Zhangjiagang Bank implementing mid-term dividends for the first time [6]. - Several banks, including Suzhou Bank, maintain a stable cash dividend ratio of over 30%, indicating a commitment to providing consistent returns to shareholders [6]. - Banks are advised to balance their operational performance with dividend frequency, ensuring that dividend policies are aligned with profitability and capital adequacy [7].

Core Viewpoint - The rural commercial bank sector experienced a 0.75% increase on December 2, with Yunnan Rural Commercial Bank leading the gains, while the Shanghai Composite Index and Shenzhen Component Index saw declines of 0.42% and 0.68%, respectively [1] Group 1: Market Performance - The closing price of Yunnan Rural Commercial Bank was 6.72, up by 1.20%, with a trading volume of 538,400 shares and a transaction value of 361 million [1] - Other banks in the sector, such as Shanghai Rural Commercial Bank and Wuxi Bank, also reported gains of 1.06% and 0.65%, respectively [1] - The overall trading volume and transaction values for various banks indicate active market participation, with Zhangjiagang Bank and Suzhou Rural Bank also showing positive performance [1] Group 2: Fund Flow Analysis - The rural commercial bank sector saw a net outflow of 83.05 million from institutional investors and 32.37 million from speculative funds, while retail investors contributed a net inflow of 115 million [1] - Yunnan Rural Commercial Bank had a net inflow of 13.21 million from institutional investors, despite a net outflow of 21.98 million from speculative funds [2] - The fund flow data indicates varying levels of investor confidence, with some banks like Zhangjiagang Bank experiencing significant net outflows from institutional and speculative investors, while retail investors showed strong interest [2]

多元服务提质效，提升乡村幸福指数。该行不断创新服务模式，延伸服务触角，提升"三农"获得感和幸 福感。整村授信，服务下沉。基于大数据与实地评议，完成463个村社整村授信，建档525.52万户，累 计放贷20.67亿元。推行"驻村工作制"，每个村社常驻不少于2人，确保金融服务扎根乡村。普惠网点， 全域覆盖。建成并优化384家普惠金融服务点，实现涉农村社全覆盖，2025年以来办理业务41.3万笔。 积极拓展"政务通办"功能，300家服务点实现"农商.苏服办"功能；350家完成数字人民币服务点升级。 创新赋能，拓宽销路。打造线上直播新业态，搭建"紫金优选"直播平台，累计开展助农直播22场，观看 人次247万，销售商品超2.4万件，销售额超374万元。创新开展异业联盟，将营业场所变身"助农特卖 场"，为涉农商户开辟销售新渠道。 未来，紫金农商银行将持续坚守服务"三农"初心，聚焦重点领域和核心客群，在体制机制上持续优化， 在产品服务上不断创新，在服务模式上精益求精，为绘就农业强、农村美、农民富的乡村振兴美好画卷 贡献金融力量。冯旭邵磊 作为扎根地方的金融主力军，紫金农商银行始终将服务"三农"作为立行之本、发展之基，以金融 ...

Market Performance - The rural commercial bank sector increased by 1.44% on December 1, with Zhangjiagang Bank leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Individual Stock Performance - Zhangjiagang Bank (002839) closed at 4.74, up 4.41% with a trading volume of 1.1194 million shares and a transaction value of 5.31 billion [1] - Qingnong Commercial Bank (002958) closed at 3.21, up 2.23% with a trading volume of 850,300 shares and a transaction value of 270 million [1] - Yunnan Agricultural Bank (601077) closed at 6.64, up 2.15% with a trading volume of 639,200 shares and a transaction value of 422 million [1] - Jiangyin Bank (002807) closed at 4.92, up 2.07% with a trading volume of 543,000 shares and a transaction value of 266 million [1] - Other notable performances include Yuanxi Bank (600908) at 6.17 (+1.98%), Sunong Bank (603323) at 5.30 (+1.92%), and Ruifeng Bank (601528) at 5.61 (+1.63%) [1] Fund Flow Analysis - The rural commercial bank sector experienced a net outflow of 83.7827 million from institutional investors, while retail investors saw a net inflow of 1.7564 million [1] - Notable net inflows from speculative funds amounted to 82.0263 million [1] Detailed Fund Flow for Individual Stocks - Yunnan Agricultural Bank (601077) had a net inflow of 24.4028 million from institutional investors, while retail investors had a net outflow of 36.2857 million [2] - Jiangyin Bank (002807) saw a net inflow of 17.2582 million from institutional investors, with retail investors experiencing a net outflow of 4.7439 million [2] - Other banks like Zijin Bank (601860) and Ruifeng Bank (601528) also showed varied fund flows, with Zijin Bank having a net inflow of 2.9176 million from speculative funds [2]

江宁片区支行积极与江宁区委区政府沟通对接，成为江宁区"三信"评定工作协调小组成员，同区政府 办、区发改委、区农业农村局、区财政局共同负责统筹全区"三信"评定及结果应用工作。参加江宁区政 府组织的"三信"评定工作启动会，深入领会政府部门对评定工作的整体规划、目标要求及协同机制。第 一时间组织召开行内专项工作部署会，传达政府启动会精神，并结合辖区实际对"三信"评定工作进行细 化安排。 迅速行动，高效落实 江南时报讯 紫金农商银行江宁片区支行积极响应南京市江宁区委区政府工作部署，今年8月以来在江宁 区正式启动信用户、信用村（社区）、信用镇（街道）（以下简称"三信"）评定应用工作，旨在优化农 村信用环境与融资环境，促进农村经济与金融实现良性互动、和谐发展。 为快速推进工作，江宁片区支行主动对接区发改委、区农业农村局等部门，第一时间获取辖区内新型农 业经营主体清单，精准、迅速完成辖内37家营业网点的任务分配。辖内各营业网点积极参加所在街道组 织的"三信"评定工作推进会，为后续工作开展夯实基础。组织辖内工作人员参加"三信"评定培训会，系 统学习"伴宁科创"小程序的数据归集与录入方法，熟练掌握走访、建档及评定全流程规范，全 ...

做好科技金融大文章，既是农商行的政治任务和社会责任，也是转型方向和发展机遇。紫金农商银行将 把做优做强科创金融作为服务实体经济的重要抓手,加大对科技型企业的精准支持，为新质生产力培育 注入"源头活水"。冯旭 江南时报讯 近日，2024年度南京市"金融惠民助企（科创金融）"劳动竞赛总结表彰暨2025年度劳动竞 赛部署动员会召开。紫金农商银行凭借在科创金融领域的专业实力和良好表现斩获多项荣誉，其中， 《科创金融综合服务方案》荣获制度创新类一等奖，《深化科创金融服务团队建设》荣获组织创新类三 等奖。 一直以来，该行积极探索金融服务实体经济新路径，不断提升金融赋能科创企业精准度。构 建"1+13+N"总分联动机制，形成总行科创金融中心统筹、13家区域支行协同、全辖公司客户经理参与 的立体化科技金融服务网络。聚焦科创企业全生命周期，为不同成长阶段企业定制不同金融支持方案， 使科技型企业融资之路"看得见，走得顺"。截至2024年末，该行科技贷款余额150.3亿元，较上年新增 3.42亿元。积极发扬农信人"背包精神"，与雨花软件谷科创城、东大科技园、兴智科技园等多个产业园 区建立战略合作关系，制定并实施精细化走访计划，20 ...