Core Viewpoint - The A-share market has seen significant gains in bank stocks, with notable increases in share prices for several banks, indicating positive market sentiment towards the banking sector [1]. Group 1: Stock Performance - Xiamen Bank experienced a maximum increase of 9.99%, reaching a total market capitalization of 20.9 billion [2]. - Chongqing Bank rose by 7.18%, with a market value of 38.4 billion [2]. - Shanghai Bank's shares increased by 4.38%, bringing its market capitalization to 139 billion [2]. - Nanjing Bank saw a rise of 3.90%, with a total market value of 138.5 billion [2]. - Yunnan Rural Commercial Bank increased by 3.31%, with a market capitalization of 74.5 billion [2]. - Ningbo Bank's shares rose by 3.25%, reaching a market value of 216.1 billion [2]. - Qilu Bank increased by 2.95%, with a market capitalization of 36.5 billion [2]. - Hangzhou Bank's shares rose by 2.91%, bringing its market value to 120.4 billion [2]. - Jiangsu Bank saw an increase of 2.36%, with a total market capitalization of 191.2 billion [2]. - Changsha Bank's shares rose by 2.38%, with a market value of 39.8 billion [2]. - Zhangjiagang Bank increased by 2.19%, reaching a market capitalization of 1.14 billion [2]. - Chengdu Bank's shares rose by 2.05%, with a total market value of 69.5 billion [2]. Group 2: Year-to-Date Performance - Xiamen Bank has a year-to-date increase of 8.04% [2]. - Chongqing Bank's year-to-date performance is up by 3.56% [2]. - Shanghai Bank has seen a year-to-date decline of 3.17% [2]. - Nanjing Bank's year-to-date performance is down by 2.01% [2]. - Yunnan Rural Commercial Bank has a year-to-date increase of 4.89% [2]. - Ningbo Bank has the highest year-to-date increase at 16.52% [2]. - Qilu Bank's year-to-date performance is up by 3.31% [2]. - Hangzhou Bank has a year-to-date increase of 8.70% [2]. - Jiangsu Bank's year-to-date performance is up by 3.41% [2]. - Changsha Bank has a year-to-date increase of 2.06% [2]. - Zhangjiagang Bank's year-to-date performance is up by 1.97% [2]. - Chengdu Bank has a year-to-date increase of 1.67% [2].

城商行：城商行依托区域资源深耕地方市场，在地方经济复苏周期中信贷投放节奏更为灵活，叠加中小 金融机构改革红利释放，优质城商行的资产质量将持续优化，区域业务拓展空间进一步打开，估值修复 动力充足。 消息面上，当前银行（核心股）正处年度营销旺季，多家上市银行透露旺季信贷投放表现优于2025年同 期，对公信贷开门红情况整体向好。同时，近期多家中小银行获批增资扩股，青海贵南农村商业银行、 东营银行等机构完成注册资本调整，部分银行同步推进减资优化，业内认为此举将推动银行业整体资本 结构进一步完善，夯实服务实体经济的资本基础。此外，中小金融机构改革化险持续推进，开年以来已 有25家村镇银行平稳退出，行业减量提质步伐加快，经营质量有望稳步提升。 中国人民银行（核心股）近日召开2026年信贷市场工作会议。会议要求，做好2026年信贷市场工作，不 断加强对重大战略、重点领域和薄弱环节的优质金融服务。建设多层次金融服务体系，着力支持扩大内 需、科技创新、中小微企业等重点领域。 相关行业： 早盘银行（核心股）股逆势爆发，截至午间收盘，银行板块上涨1.55%。领涨股厦门银行涨6.38%，重 庆银行涨超4%，宁波银行、上海银行涨超3% ...

Core Viewpoint - The A-share market for banks showed a contrary upward trend, with several banks experiencing significant gains on February 5, 2023, despite broader market conditions [1]. Group 1: Stock Performance - Xiamen Bank saw an increase of 6.38%, with a total market capitalization of 20.2 billion [2] - Chongqing Bank rose by 4.17%, with a market cap of 37.3 billion [2] - Ningbo Bank increased by 3.31%, with a market value of 216.3 billion [2] - Shanghai Bank also rose by 3.31%, with a market cap of 137.5 billion [2] - Nanjing Bank increased by 2.97%, with a market capitalization of 137.2 billion [2] - Qilu Bank rose by 2.78%, with a market cap of 36.4 billion [2] - Hangzhou Bank increased by 2.54%, with a market value of 120 billion [2] - Yuhuang Agricultural Commercial Bank rose by 2.36%, with a market cap of 73.8 billion [2] - Shanghai Rural Commercial Bank increased by 2.28%, with a market value of 82.4 billion [2] - Jiangsu Bank rose by 2.06%, with a market cap of 190.7 billion [2] Group 2: Year-to-Date Performance - Ningbo Bank has the highest year-to-date increase at 16.59% [2] - Xiamen Bank has a year-to-date increase of 4.50% [2] - Qilu Bank shows a year-to-date increase of 3.14% [2] - Hangzhou Bank has a year-to-date increase of 8.31% [2] - Jiangsu Bank shows a year-to-date increase of 3.11% [2]

Group 1 - The A-share market saw a rise in bank stocks, with Xiamen Bank increasing by over 6% [1] - Chongqing Bank rose by more than 4% [1] - Ningbo Bank and Shanghai Bank both increased by over 3% [1] - Nanjing Bank, Qilu Bank, Hangzhou Bank, Yucheng Rural Commercial Bank, Shanghai Rural Commercial Bank, and Jiangsu Bank all saw increases of over 2% [1]

每经AI快讯，2月5日，银行板块盘中逆势拉升，厦门银行涨超6%，重庆银行、上海银行、宁波银行、 南京银行涨幅靠前。 每日经济新闻 ...

每经AI快讯，2月5日，银行板块盘中逆势拉升，厦门银行涨超6%，重庆银行、上海银行、宁波银行、 南京银行涨幅靠前。 每日经济新闻 ...

Core Viewpoint - The performance reports of 10 A-share listed banks indicate overall steady growth in profitability and asset quality, with expectations for continued improvement in 2026 as net interest margin decline is expected to narrow and credit costs continue to decrease [1][2]. Profitability - All 10 A-share listed banks reported year-on-year growth in net profit for 2025, with notable performance from city commercial banks [2]. - Qingdao Bank achieved a net profit of 5.188 billion yuan, marking a 21.66% year-on-year increase, leading the group of disclosed banks [2]. - Other banks such as Ningbo Bank, Nanjing Bank, and Hangzhou Bank also surpassed 10 billion yuan in net profit, with year-on-year growth rates of 8.13%, 8.08%, and 12.05% respectively [2][3]. Revenue Growth - Except for CITIC Bank, all other banks reported positive revenue growth for 2025 [4]. - Nanjing Bank recorded the highest revenue growth at 10.48%, reaching 55.54 billion yuan, while Qingdao Bank and Ningbo Bank reported revenue of 14.573 billion yuan and 71.968 billion yuan, with growth rates of 7.97% and 8.01% respectively [4][5]. - The revenue growth of city commercial banks and rural commercial banks showed some differences, with Nanjing Bank benefiting from strong net interest income growth [4]. Asset Quality - The asset quality of the 10 listed banks remained stable, with most reporting a steady or declining non-performing loan (NPL) ratio [6][9]. - Qingdao Bank's NPL ratio decreased to 0.97%, down 17 basis points from the previous year, indicating improved asset quality [9][10]. - The provision coverage ratio for Qingdao Bank increased to 292.3%, reflecting a continuous improvement in core asset quality indicators [10]. Market Outlook - Analysts expect that the net interest margin for listed banks will stabilize, with a slight narrowing of the decline anticipated in 2026 [8][9]. - The first quarter of 2026 is projected to see a significant increase in credit issuance, with January alone expected to account for over 30% of the annual total [8]. - The overall credit growth is expected to remain robust, supported by favorable monetary policy adjustments [8].

2月4日，银行低开高走，全天走强，个股集体拉升，截至收盘，A股42只银行股近九成涨逾1%，宁波 银行、厦门银行涨超3%，青岛银行、齐鲁银行涨超2%，常熟银行、杭州银行、招商银行等涨幅居前。 | | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | | 002142 | 宁波银行 | | 31.70 | | | | 2 | 601187 | 厦门银行 | | 7.21 | 0.22 | 3.15% | | 3 | 002948 | 青岛银行 | | 5.52 | 0.15 | 2.79% | | 4 | 601665 | 齐鲁银行 | m | 5.76 | 0.12 | 2.13% | | 5 | 601128 | 常熟銀行 | | 7.26 | 0.14 | 1.97% | | 6 | 600908 | 元锡银行 | | 5.88 | 0.11 | 1.91% | | | 600926 | 杭州银行 | Ma | 16.14 | 0.30 | 1.89% | | 8 | 601009 | 南京银行 | | ...

Group 1 - Ningbo Bank announced the approval of Fu Wensheng's appointment as Vice President by the Ningbo Financial Regulatory Bureau, marking his return to the position after more than a year [1] - Fu Wensheng has extensive experience, having served in various roles within the bank and previously held the position of Vice President from September 2012 until February 2024 [1] - Following his resignation in February 2024, Fu Wensheng was appointed as the Deputy Secretary of the Party Committee of Ningbo Bank [1] Group 2 - As of the end of 2025, Ningbo Bank reported total assets of approximately 3.63 trillion yuan, reflecting a year-on-year growth of over 16% [2] - For the full year of 2025, Ningbo Bank achieved operating income of 71.968 billion yuan, an increase of 8.01% year-on-year [2] - The bank's net profit attributable to shareholders reached 29.333 billion yuan, representing a year-on-year growth of 8.13% [2]

证券研究报告 银行业月报 ——行业盈利温和修复，关注优质区域行 银行行业 强于大市（维持） 证券分析师 袁喆奇 投资咨询资格编号：S1060520080003 研究助理 李灵琇 一般证券业务编号：S1060124070021 2026年2月4日 请务必阅读正文后免责条款 核心摘要 注：全文所指银行指数均为银行（中信）指数 2 行业核心观点：资金结构深刻变化，顺势而为重配置轻交易。资金流向的变化是推动板块估值修复中不可忽视的力量，一方面被动指数的持续扩容带来了稳定的资 金流入，板块高权重的特征仍将持续推动资金的流入，一方面银行板块低波高红利的特征更易获得险资等中长期资金的青睐，目前板块平均股息率达到4.50%，结 合监管一系列引导中长期资金入市的措施，预计板块的股息配置价值吸引力仍将持续。个股维度，我们结合股息和潜在增量中长期资金流入空间，看好A股股份行 板块以及部分优质区域行（成都、江苏、上海、苏州、长沙），同时关注更具股息优势的港股大行配置机会。 25年度快报综述：营收盈利回暖，资产质量稳中有进。营收盈利回暖，资产质量稳中有进。截至1月末，共10家银行披露2025年度业绩快报，大部分银行营收盈利 同比增速均 ...