1月20日，宁波银行发布2025年业绩快报。2025年，宁波银行实现营业收入719.68亿元，同比增长8.01%；实现归属于 母公司股东的净利润293.33亿元，同比增长8.13%。公司实现利息净收入531.61亿元，同比增长10.77%；实现手续费及 佣金净收入60.85亿元，同比增长30.72%，轻资本业务增长势头良好。 截至2025年末，宁波银行不良贷款余额131.47亿元，不良贷款率0.76%，较上年末持平；拨备覆盖率373.16%，拨备水 平保持充足。 截至2025年末，宁波银行贷款和垫款总额17,333.13亿元，较年初增加2,572.50亿元，增长17.43%，占总资产比重 47.77%，较年初提升0.54个百分点。 （宁波银行） 截至2025年末，宁波银行客户存款总额20,248.83亿元，较年初增加1,885.38亿元，其中活期存款新增占比70.84%，存 款付息率同比下降33BP，2025年12月当月付息率1.42%，同比下降44BP，负债成本进一步降低。 ...

Group 1: Competitive Advantage - The company adopts a differentiated business strategy to adapt to changes in the operating environment and continuously accumulates comparative advantages for high-quality development [2] - Key strategies include deepening operational focus, strengthening core advantages, accelerating technological transformation, and ensuring risk management to maintain stable operations [2] Group 2: Financing and Growth - The company emphasizes the long-term relationship between dividends and internal capital growth, ensuring a solid capital foundation for sustainable business development [2] - Internal capital is expected to create greater value for the company's development, with a commitment to enhancing performance and maintaining steady internal capital growth for shareholder returns [2] Group 3: Loan Growth Outlook - The company has focused on supporting key sectors such as private small and micro enterprises, manufacturing, import-export businesses, and consumer services to enhance financial service levels and achieve steady loan growth [2] - Future loan growth is anticipated to be supported by ongoing policy benefits aimed at expanding domestic demand and promoting consumption, effectively meeting the financing needs of the real economy [2] Group 4: Compliance and Communication - During the investor relations activity, the company ensured thorough communication with investors while adhering to disclosure regulations, with no significant undisclosed information leaks [2]

Market Overview - The city commercial bank sector experienced a decline of 0.55% on January 21, with Chongqing Bank leading the drop [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] Individual Stock Performance - Ningbo Bank closed at 28.88, with an increase of 1.16% and a trading volume of 432,300 shares, amounting to a transaction value of 1.246 billion [1] - Chongqing Bank closed at 10.25, down 1.82%, with a trading volume of 106,800 shares and a transaction value of 110 million [2] - Other notable performers include Xiamen Bank, which closed at 7.13, down 1.66%, and Chengdu Bank, which closed at 15.72, down 1.38% [2] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 508 million from institutional investors, while retail investors experienced a net outflow of 566 million [2] - The capital flow for individual stocks indicates that Hangzhou Bank had a net inflow of 158 million from institutional investors, while it faced a net outflow of 86.5 million from retail investors [3] - Shanghai Bank also saw a net inflow of 107 million from institutional investors, with a net outflow of 121 million from retail investors [3]

Core Viewpoint - Ningbo Bank's 2025 performance report highlights its resilience and sustainable growth amidst a complex economic environment, showcasing a solid operational performance with key financial metrics reflecting both quantity and quality improvements [2][8]. Financial Performance - The bank achieved an operating income of 71.968 billion yuan, a year-on-year increase of 8.01%, and a net profit attributable to shareholders of 29.333 billion yuan, up 8.13% [2]. - Total assets exceeded 3.6 trillion yuan, growing by 16.11% compared to the beginning of the year [2]. - Net interest income, a key revenue driver, rose by 10.77% to 53.161 billion yuan, supported by asset expansion and a significant reduction in funding costs [3]. - Non-interest income, particularly from fees and commissions, reached 6.085 billion yuan, marking a substantial increase of 30.72%, indicating the success of the bank's light-capital transformation strategy [3]. Efficiency and Cost Management - The bank's business and management expenses decreased by 0.51%, with the cost-to-income ratio improving by 2.80 percentage points, reflecting enhanced operational efficiency through digital transformation and refined management practices [4][6]. - Basic earnings per share were 4.29 yuan, up 8.61%, while the return on equity (ROE) stood at 13.11%, slightly down by 0.48 percentage points but still among the top in the industry [6]. Asset and Liability Management - Total loans increased by 17.43%, significantly outpacing total asset growth, with loans comprising 47.77% of total assets, indicating a strategic focus on supporting the real economy [6]. - Total deposits grew by 10.27%, with a notable structural improvement where demand deposits accounted for 70.84% of new deposits, leading to a 33 basis point decline in the average interest rate on deposits [6]. Risk Management - The non-performing loan ratio remained stable at 0.76%, with a high provision coverage ratio of 373.16%, ensuring robust risk mitigation capabilities [7]. - The bank's risk management culture emphasizes integrating risk awareness into all business processes, supported by an independent credit approval system and thorough industry research to enhance asset quality [7]. - This proactive risk management approach is crucial for navigating economic transitions and safeguarding long-term stability [7]. Strategic Outlook - Ningbo Bank's performance illustrates a regional bank's strategic resilience and operational strength, effectively addressing market concerns regarding the sustainability of profitability and growth potential [8]. - The bank has successfully balanced speed and quality in its growth strategy through customer engagement, technological empowerment, and structural optimization [8].

宁波银行（002142.SZ）2025 年度业绩快报点评 中收表现亮眼 glmszqdatemark 2026 年 01 月 21 日 [盈利预测与财务指标 Table_Forcast] | 项目/年度 | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业收入（百万元） | 66,631 | 71,968 | 80,692 | 90,804 | | 增长率（%） | 8.2 | 8.0 | 12.1 | 12.5 | | 归属母公司股东净利润（百万元） | 27,127 | 29,333 | 32,923 | 37,285 | | 增长率（%） | 6.2 | 8.1 | 12.2 | 13.2 | | 每股收益（元） | 3.95 | 4.29 | 4.83 | 5.49 | | PE（X） | 7 | 7 | 6 | 5 | | PB（X） | 0.9 | 0.8 | 0.8 | 0.7 | 资料来源：Wind，国联民生证券研究所预测；（注：股价为 2026 年 1 月 20 日收盘价） | 推荐 | 维持评级 | | ...

城商行Ⅱ 详解宁波银行 2025 业绩快报：各项主要指标均保持稳健 | 总股本(百万股) | 6,603.59 | | --- | --- | | 流通股本(百万股) | 6,599.89 | | 市价(元) | 28.55 | | 市值(百万元) | 188,532.52 | | 流通市值(百万元) | 188,426.78 | 宁波银行（002142.SZ） 证券研究报告/公司点评报告 2026 年 01 月 21 日 | 评级： 增持（维持） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 2023A | | 2024A | 2025E | 2026E | 2027E | | 分析师：戴志锋 | 营业收入（百万元） | 61,572 | | 66,560 | 71,968 | 78,842 | 86,248 | | 执业证书编号：S0740517030004 | 增长率 yoy% | 6.40% | | 8.10% | 8.10% | 9.60% | 9.40% | | Email： ...

格隆汇1月21日｜中泰证券研报指出，宁波银行2025营收同比+8.0%（vs 1~3Q25 同比+8.3%），净利润 同比+8.1%（vs 1~3Q25 同比+8.4%）。4 季度营收和净利润增速均基本稳健，资产端，贷款维持高增。 2025全年贷款新增2572.5亿，同比多增339.05亿；但Q4单季新增164.9亿，同比少增38.68亿，主要由于 2025年信贷投放更为前置，一季度投放量占全年增量达64%。公司2025E、2026E、2027E PB 0.87X/ 0.78X/ 0.69X，市场化机制是其稀缺性和成长性的保障：①宁波银行市场机制灵活、管理层优秀，是具 有稀缺性的优质银行代表，这是宁波银行高成长性持续的关键因素。②宁波银行资产质量优异且历经周 期检验。建议重点关注，维持"增持"评级。 ...

宁波银行（002142.SZ）2025 年度业绩快报点评 中收表现亮眼 glmszqdatemark 2026 年 01 月 21 日 [盈利预测与财务指标 Table_Forcast] | 项目/年度 | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业收入（百万元） | 66,631 | 71,968 | 80,692 | 90,804 | | 增长率（%） | 8.2 | 8.0 | 12.1 | 12.5 | | 归属母公司股东净利润（百万元） | 27,127 | 29,333 | 32,923 | 37,285 | | 增长率（%） | 6.2 | 8.1 | 12.2 | 13.2 | | 每股收益（元） | 3.95 | 4.29 | 4.83 | 5.49 | | PE（X） | 7 | 7 | 6 | 5 | | PB（X） | 0.9 | 0.8 | 0.8 | 0.7 | [Table_Author] | 分析师 王先爽 | | --- | | 执业证书： S0590525120014 | | 邮箱 ...

Core Viewpoint - Ningbo Bank reported a solid performance for 2025, with double-digit growth in core revenue and stable asset quality, indicating a strong risk-bearing capacity [1] Group 1: Financial Performance - In 2025, the company achieved operating revenue of 71.968 billion yuan, a year-on-year increase of 8.01% [1] - The net profit attributable to shareholders reached 29.333 billion yuan, growing by 8.13% year-on-year [1] - Net interest income was 53.161 billion yuan, reflecting a growth of 10.77% [1] - Net fee and commission income amounted to 6.085 billion yuan, with a significant increase of 30.72% [1] Group 2: Loan and Credit Support - By the end of 2025, total loans and advances reached 1,733.313 billion yuan, an increase of 257.250 billion yuan, or 17.43% [2] - The bank served 746,100 corporate clients, an increase of 89,600 clients from the beginning of the year [2] - The international settlement volume was 319.893 billion USD, showing a year-on-year growth of 12.36% [2] Group 3: Business Structure and Cost Management - Total customer deposits reached 2,024.883 billion yuan, with an increase of 188.538 billion yuan [3] - The proportion of demand deposits increased to 70.84%, while the interest rate on deposits decreased by 33 basis points [3] - The bank's total assets under management (AUM) for individual clients grew by 13.07% to 1,275.7 billion yuan [3] - Business and management expenses decreased by 0.51%, and the cost-to-income ratio improved by 2.80 percentage points [3] Group 4: Asset Quality and Risk Management - As of the end of 2025, the non-performing loan balance was 13.147 billion yuan, with a non-performing loan ratio of 0.76%, unchanged from the previous year [4] - The provision coverage ratio stood at 373.16%, indicating a strong provisioning level [4] - The bank's core advantages lie in risk pricing and strong risk control, which are expected to lead to continued superior performance in 2026 [4]

本报记者 吴奕萱 1月21日，宁波银行股份有限公司（以下简称"宁波银行"）发布2025年度业绩快报，该公司全年实现营 业收入719.68亿元，同比增长8.01%；归属于母公司股东的净利润293.33亿元，同比增长8.13%。 宁波银行相关负责人对记者表示："2025年，公司持续加强党的领导，按照董事会的要求，始终秉承'真 心对客户好'的理念，扎实推进金融'五篇大文章'落地见效，持续积累差异化竞争优势，经营效益实现稳 步提升，实现了高质量发展。" 风险抵御能力的背后是较为完善的风控体系。宁波银行相关负责人向《证券日报》记者介绍："我行坚 持'经营银行就是经营风险'理念，严格执行统一授信政策，坚持实施独立的授信审批，进一步强化行业 和产业链研究，从源头端控制好客户准入，做好了风险全流程预警。" 对此，相关机构人士在接受《证券日报》记者采访时称："连续18年不良率低于1%，在银行业表现较为 优秀，373.16%的拨备覆盖率也处于较高安全水平，为宁波银行构建了坚实的风险'安全垫'。宁波银行 的风控体系既保持了严格性，又通过精细化管理避免了过度风控对业务的制约，这种平衡能力正是其核 心竞争力的关键所在。" 该机构人士认 ...