证券代码：601916 证券简称：浙商银行 公告编号：2025-017 特此公告。 浙商银行股份有限公司董事会 浙商银行股份有限公司 关于提名行长的提示性公告 2025 年 4 月 2 日 本公司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法律责任。 根据中共浙江省委决定，陈海强同志任浙商银行股份有限公司党委副书记， 提名陈海强同志任浙商银行股份有限公司行长。 本公司董事会将尽快按照法定程序完成行长的聘任工作。 ...

证券研究报告 | 公司点评报告 2025 年 04 月 02 日 浙商银行（601916.SH） 不良双降，其他非息高增 总量研究/银行 浙商银行披露 2024 年度报告。24A 营业收入、PPOP、归母利润同比增速分别 为 6.19%、4.97%、0.92%，增速分别较 24Q1~3 变动+0.56pct、+0.99pct、 -0.27pct，归母净利润增速略微回落，营收、PPOP 增速保持回升。累计业绩 驱动上，规模、其他非息高增、有效税率下降形成正贡献，而拨备计提和息差 收窄形成主要负贡献。从单季度业绩驱动来看，24Q4 单季度规模、其他非息保 持正贡献，但有效税率贡献由正转负，息差进一步收窄，也是 24Q4 净利润增 速下滑的主要拖累原因。 核心观点： 亮点：（1）营收增速回暖。公司 24Q4 营收和 PPOP 增速环比回升，其他非息 形成较大贡献，2024 年其他非息收入同比增长 61.7%，环比 Q1-3 提升 27.7pct， 核心增量收益来自处置 FVOCI 取得的投资收益，同比增多 25.3 亿。截至 2024 年末，其他综合收益中 FVOCI 未实现损益规模为 60.5 亿，占 24 年全 ...

因此， 平安银行 2024年的年报可以作为了解不同 今年1月27日， 浙商 银行 股份有限公司上海分行因存在包括信用卡业务、信贷业务在内的15项违规行 为，如小微企业划型不准确、信贷业务不规范经营等，被责令整改并处以1680万元罚款。具体违规行为 包括信贷业务不规范经营、资产池业务未纳入统一授信管理等。同时，浙商银行重庆分行因变相"存贷 挂钩"增加企业融资成本等违规行为，被罚款170万元。共8位责任人受到处罚。 两家分行因存款违规受罚，上海分行涉嫌虚增存贷款，重庆分行则因'设置不合理存款考核要求'被点 名，这引发了人们的质疑：浙商银行是否因为巨大的存款压力，而一再挑战规则的底线？ 直至浙商银行3月29日发布2024年年报，公众方知晓该行至少半年来面临吸存困境。去年四季度新增存 款仅82.97亿元，而三季度末的存款甚至较2024年上半年末有所下降。由于去年下半年，浙商银行经历 了包括行长在内的一系列人事变动，存款余额的下降难免让人嘀咕，两者是否存在关联。根据浙商银行 披露的信息，截至2024年末，浙商银行的逾期贷款余额较上一年增长了20.6%。 罚单指向存款违规 今年1月27日，上海金融监管局对浙商银行上海分行 ...

长沙晚报掌上长沙3月30日讯（通讯员 蔡春华 全媒体记者 范宏欢）3月29日，由长沙金融业联合会主办、浙商银 行长沙分行承办的2025第八届长沙金融系统"浙商银行杯"羽毛球邀请赛在长沙羽星公园羽毛球馆举办。赛事共设 混双、男双和女双三个比赛项目，来自长沙金融行业的27支队伍、240多名运动员齐聚赛场，切磋球技、共展风 采。 在活力四射的开场舞中，赛事正式拉开帷幕。开幕式上，各参赛队伍整齐列队，精神抖擞，依次喊出各自响亮的 口号，彰显志在必得的决心。浙商银行长沙分行党委委员、副行长、工会主席彭梦雄为赛事致辞。他表示，此次 羽毛球邀请赛既丰富了金融从业人员的业余文化生活，让他们在繁忙的工作之余舒展身心，强健体魄，又为增进 各金融机构之间的沟通与协作创造了别样的契机。 在全体人员的见证下，运动员代表、裁判代表先后宣誓，长沙金融业联合会秘书长曾盾，浙商银行长沙分行党委 书记、行长许创强，中国银联湖南分公司党委委员、副总经理唐善明，中国农业发展银行湖南省分行党委委员、 副行长王猛，长投控股集团党委副书记、总经理王舒军共同为赛事挥拍开球。 长沙金融业联合会秘书长曾盾表示，长沙金融系统羽毛球邀请赛自创办以来，得到了金融机构 ...

Investment Rating - The investment rating for the company is "Recommended" [1][4][7] Core Views - The company's non-interest income has shown resilience, contributing to revenue recovery, while asset quality is improving [7][8] - The bank's total assets reached 3.33 trillion yuan, with a year-on-year growth of 5.78%, and loans increased by 8.21% [4][8] - The bank's net profit for 2024 was 15.2 billion yuan, reflecting a slight year-on-year increase of 0.92% [4][7] Financial Performance Summary - In 2024, the company achieved operating income of 67.7 billion yuan, a year-on-year increase of 6.19% [4][6] - The annualized weighted average ROE was 8.49%, down by 0.93 percentage points year-on-year [4][7] - The bank's net interest margin at the end of 2024 was 1.71%, with a loan yield of 4.45% [7][11] Asset Quality Summary - The non-performing loan (NPL) ratio improved to 1.38% at the end of 2024, down 5 basis points from the previous quarter [8][10] - The provision coverage ratio remained stable at 179%, indicating a solid risk mitigation capacity [8][10] - The bank's credit impairment losses decreased by 5.6% year-on-year, reflecting improved asset quality management [9][10] Future Outlook - The bank's strategic focus on deepening its operations in Zhejiang province is expected to support stable growth in corporate and retail banking [7][8] - The forecast for earnings per share (EPS) for 2025-2027 is adjusted to 0.57, 0.61, and 0.66 yuan, respectively, with corresponding profit growth rates of 3.7%, 5.9%, and 8.4% [7][10] - The bank's price-to-book (P/B) ratios for 2025-2027 are projected to be 0.45x, 0.42x, and 0.40x, respectively, indicating a favorable valuation relative to its improving asset quality [7][10]

3月27日，浙商银行（601916）德州分行与德州联通公司开展共建合作签约仪式暨业务交流会。德州联 通公司总经理杨宁，浙商银行德州分行党委书记、行长时念村出席活动并致辞。德州联通公司副总经理 周兵，浙商银行德州分行副行长李达及双方各部门负责人参加活动。 时念村行长一行在杨宁总经理的陪同下，首先参观了联通公司信息化演示厅，了解最新的数字信息技 术。在随后的签约仪式上杨宁总经理与时念村行长分别致辞。 浙商银行德州分行将以此次活动为契机，充分发挥自身金融服务优势，创新应用"金融顾问"服务模式， 共同探索"科技+金融"协同创新合作，实现共同发展。我们期待能够进一步凝聚力量，激发积极性和创 造力，与联通公司共同推动"科技+金融"工作迈上新台阶。 时念村行长指出金融与通信，虽属不同行业领域，但都肩负着服务实体经济发展、助力社会民生改善的 重要使命。当前，数字经济与实体经济深度融合，5G、大数据、人工智能等新一代信息技术正深刻重 塑金融业态。浙商银行作为一家以"数字驱动"为特色的全国性股份制商业银行，始终秉持"善本金融"理 念，主动融入国家数字经济发展大局。此次与联通公司德州市分公司的合作，是双方优势互补、资源共 享的必然 ...

Investment Rating - The investment rating for the company is "Neutral" [6] Core Views - The company's revenue showed a marginal recovery with a total revenue of 67.65 billion yuan in 2024, representing a year-on-year increase of 6.19%, while the net profit attributable to shareholders was 15.19 billion yuan, up 0.92% year-on-year [1][3] - The total assets of the company grew by 5.78% year-on-year to 3.33 trillion yuan, with deposits and loans increasing by 2.57% and 8.20% respectively [2] - The net interest margin decreased to 1.71%, down 30 basis points year-on-year, while the cost of interest-bearing liabilities improved, decreasing by 10 basis points [2] - Non-interest income saw a significant increase of 39.05% year-on-year, accounting for 33.25% of total revenue, with investment income showing strong growth [3] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 67.65 billion yuan, with a year-on-year growth of 6.19%, and a net profit of 15.19 billion yuan, reflecting a slight increase of 0.92% [1][5] - The average ROE for 2024 was 8.49%, a decrease of 0.96 percentage points compared to the previous year [1] Asset Growth - Total assets increased by 5.78% year-on-year to 3.33 trillion yuan, with deposits and loans growing by 2.57% and 8.20% respectively [2] - New credit issuance in 2024 was 140.1 billion yuan, with corporate loans being the main driver of growth [2] Interest Income and Costs - The net interest margin was 1.71%, down 30 basis points year-on-year, primarily due to a decline in asset yield [2] - The cost of interest-bearing liabilities decreased by 10 basis points year-on-year, indicating ongoing improvements in the liability side [2] Non-Interest Income - Non-interest income rose by 39.05% year-on-year, making up 33.25% of total revenue, with a notable increase in other non-interest income [3] Asset Quality - The non-performing loan ratio at the end of 2024 was 1.38%, a slight decrease from the previous quarter, while the coverage ratio improved to 178.67% [3]

Core Viewpoint - Zhejiang Commercial Bank reported a steady growth in its 2024 annual performance, with total operating income reaching 67.65 billion yuan, a year-on-year increase of 6.19%, and net profit attributable to shareholders at 15.19 billion yuan, up 0.92% [1][2]. Financial Performance - Interest income for 2024 was 45.16 billion yuan, a decrease of 5.0% year-on-year, while non-interest income surged to 22.49 billion yuan, marking a 39.1% increase, becoming a key driver for revenue growth [1][3]. - The bank's total assets reached 3.33 trillion yuan by the end of 2024, reflecting a growth of 5.78% compared to the end of 2023 [2]. - The non-interest income accounted for 33.25% of total operating income, an increase of 7.86 percentage points from the previous year [3]. Customer Base and Business Segments - By the end of 2024, the number of personal customers exceeded 11.67 million, with an annual growth rate of over 20%, while retail assets under management (AUM) grew nearly 10% [2]. - The bank served over 260,000 corporate clients, contributing more than 56% of total revenue [2]. Non-Interest Income Breakdown - The significant growth in non-interest income was attributed to improved market analysis and professional capabilities, capitalizing on opportunities in the bond market [4][5]. - The bank's fee and commission income decreased to 4.49 billion yuan, down 5.53 billion yuan year-on-year, primarily due to declines in guarantee and bond underwriting business [3][5]. Loan and Asset Quality - Total loans and advances reached 1.86 trillion yuan, an increase of 8.21% year-on-year, with corporate loans growing by 10.76% [6]. - Non-performing loans amounted to 25.49 billion yuan, an increase of 0.9 billion yuan, while the non-performing loan ratio decreased to 1.38%, down 0.06 percentage points [7]. Capital Adequacy and Dividends - The bank's total liabilities reached 31.23 trillion yuan, a growth of 5.7%, with capital adequacy ratios showing slight increases [7]. - A cash dividend of 4.28 billion yuan was announced, representing 30.12% of the net profit attributable to ordinary shareholders [7]. Management Changes - The sudden resignation of the bank's president, Zhang Rongseng, has raised concerns in the industry, with the position currently vacant [9][10].

Financial Performance - The bank's net profit continued to maintain positive growth, with non-interest income significantly increasing[11]. - In 2024, the company's operating income reached CNY 67.65 billion, an increase of 6.19% year-on-year[24]. - The net profit attributable to shareholders was CNY 15.19 billion, reflecting a growth of 0.92% compared to the previous year[24]. - The non-interest income for 2024 reached CNY 22.493 billion, a significant increase from CNY 16.176 billion in 2023, marking a growth of 39.0%[56]. - The bank's net profit for 2024 was CNY 15.693 billion, up from CNY 15.493 billion in 2023, indicating a growth of 1.3%[54]. - The bank's operating income for 2024 was CNY 67.65 billion, an increase from CNY 63.704 billion in 2023[55]. - The non-interest net income as a percentage of operating revenue increased to 33.25%, up 7.86 percentage points from 25.39% in 2023[62]. Asset Quality - The non-performing loan ratio has decreased for three consecutive years, indicating improved asset quality[14]. - The non-performing loan ratio stood at 1.38%, with a provision coverage ratio of 178.67%[24]. - The non-performing loan ratio improved to 1.38% in 2024, down from 1.44% in 2023[60]. - The non-performing loan (NPL) ratio stood at 1.38%, a decrease of 0.06 percentage points from the previous year, with total NPLs amounting to RMB 25.49 billion[128]. - The company maintained a stable loan quality, with normal loans increasing by RMB 130.04 billion, while the attention loans rose by RMB 9.41 billion, resulting in an attention loan ratio of 2.40%[128]. Capital and Liquidity - The capital adequacy ratio was 12.61%, with a Tier 1 capital ratio of 9.61% and a core Tier 1 capital ratio of 8.38%[24]. - The capital adequacy ratio improved to 12.61%, up 0.42 percentage points year-on-year[73]. - The company's liquidity ratio for both domestic and foreign currencies is 90.49% as of the reporting period end[169]. - The liquidity coverage ratio stands at 333.26%, with qualified high-quality liquid assets amounting to CNY 382.94 billion and net cash outflows over the next 30 days at CNY 114.91 billion[169]. - The net stable funding ratio is 110.31%, with available stable funding at CNY 1,795.46 billion and required stable funding at CNY 1,627.67 billion[169]. Loan and Financing Services - The total amount of loans and advances was CNY 18.6 trillion, representing an 8.21% increase year-on-year[24]. - The company achieved a total financing service volume of CNY 1,020.5 billion in Zhejiang province by the end of 2024, marking a growth of over CNY 230 billion in three years[42]. - The company ranked first in underwriting Zhejiang local government bonds, with an underwriting scale of CNY 40.3 billion in 2024, accounting for 8.48% of the market share[42]. - The balance of inclusive loans for small and micro enterprises was CNY 355.43 billion at the end of 2024, with an increase of CNY 35.3 billion, representing an 11% growth[38]. - The company provided over CNY 700 billion in financing across nearly 30 industries, including energy and modern communication, by the end of 2024[40]. Digital Transformation and Innovation - The bank is implementing a comprehensive collaborative reform centered on customer needs, focusing on digital transformation and agile organizational structure[16]. - The company has implemented a digital transformation strategy, enhancing its digital financial capabilities and improving service efficiency through new core system upgrades[40]. - The company has launched new products such as personal pledge loans and car loans, enhancing its retail credit product offerings[194]. - The company has implemented a digital reform strategy, improving its information technology governance and enhancing data security measures[188]. Risk Management - The company has established a comprehensive risk management framework, with the board of directors ultimately responsible for risk management[154]. - The company emphasizes a prudent and stable risk preference, focusing on a "customer-centric" approach to credit policies and asset management[157]. - The company has developed a digital risk management system for credit card and consumer finance businesses, focusing on pre-loan approval and post-loan monitoring[162]. - The company aims to optimize its credit asset structure while strictly controlling new non-performing loans[157]. Customer Base and Market Position - The company achieved a personal customer base of 11,166,540, representing a growth of 20.75% compared to the beginning of the year[192]. - The number of private banking clients increased to 14,533, a growth of 19.2% since the beginning of the year[199]. - The financial assets of private banking clients reached CNY 205 billion, marking an 11.9% increase from the start of the year[199]. - The company has established 362 branches across 22 provinces and regions, including Hong Kong, effectively covering key economic areas[24]. Strategic Initiatives - The bank aims to deepen its "Deepening Zhejiang" three-year action plan to further enhance its market presence and service quality[17]. - The bank's "123 Talent Plan" aims to enhance employee satisfaction and create a positive organizational culture[16]. - The bank's "3386 model" for comprehensive financial ecosystem construction has been successfully promoted across multiple regions[13].

Core Viewpoint - Zhejiang Commercial Bank reported a slight increase in net profit for 2024, with a net profit of 15.186 billion RMB, up 0.92% year-on-year, and a significant increase in fair value changes net income by 1095.92% [1][2]. Financial Performance - The bank achieved an operating income of 67.65 billion RMB in 2024, a year-on-year increase of 6.19% [2]. - Total profit amounted to 17.579 billion RMB, reflecting a 0.50% increase compared to the previous year [2]. - The net interest income was 45.157 billion RMB, down 4.99% year-on-year, with interest income at 110.697 billion RMB, up 0.40% [2][3]. - Non-interest net income reached 22.493 billion RMB, a 39.05% increase, driven by strong performance in trading financial assets [3]. Asset and Liability Overview - As of the end of 2024, total assets were 3,325.539 billion RMB, up 5.78% from the previous year [4]. - Total liabilities increased by 5.70% to 3,122.796 billion RMB [4]. - The bank's loan and advance total was 1,857.116 billion RMB, an increase of 8.21% [4]. Asset Quality - Non-performing loans (NPL) stood at 25.494 billion RMB, an increase of 8.98 billion RMB, with an NPL ratio of 1.38%, down 0.06 percentage points [5][6]. - The provision coverage ratio was 178.67%, a decrease of 3.93 percentage points [6]. Capital Adequacy - The capital adequacy ratio was 12.61%, up 0.42 percentage points from the previous year [7]. - The core tier 1 capital adequacy ratio increased to 8.38%, reflecting a 0.16 percentage point rise [7].