智通财经APP获悉，香港联交所最新资料显示，3月25日，Ping An Asset Management Co., Ltd.增持招商 银行(03968)170.3万股，每股作价48.6898港元，总金额约为8291.87万港元。增持后最新持股数目约为 11.49亿股，最新持股比例为25.03%。 ...

Group 1 - The core viewpoint of the article is that China Merchants Bank has announced its financial targets for 2025, projecting a net operating income of 337.273 billion yuan, which represents a year-on-year growth of 0.05% [2] - The bank also aims to achieve a net profit attributable to shareholders of 150.181 billion yuan in 2025, reflecting a year-on-year increase of 1.21% [2]

（原标题：招商银行(03968)公布2025年业绩 归母净利润1501.81亿元 同比增长1.21%） 智通财经APP讯，招商银行(03968)公布2025年业绩，实现营业净收入3,372.73亿元，同比增长0.05%;其 中，净利息收入2,155.93亿元，同比增长2.04%，非利息净收入1,216.80亿元，同比下降3.31%。归属于 该行股东的净利润1,501.81亿元，同比增长1.21%;每股基本盈利5.70元。 截至报告期末，集团资产总额130,705.23亿元，较上年末增长7.56%;贷款和垫款总额72,580.58亿元，较 上年末增长5.37%;负债总额117,896.24亿元，较上年末增长7.98%;客户存款总额98,361.30亿元，较上年 末增长8.13%。 截至报告期末，集团不良贷款余额682.06亿元，较上年末增加25.96亿元;不良贷款率0.94%，较上年末下 降 0.01个百分点;拨备覆盖率391.79%，较上年末下降20.19个百分点;贷款拨备率3.68%，较上年末下降 0.24个百分点。 fund ...

责任编辑：王馨茹 3月27日金融一线消息，招商银行在港交所公告，2025年实现营业净收入3372.73亿元，同比增长 0.05%；归母净利润1501.81亿元，同比增长1.21%。董事会建议向普通股股东派发2025年度现金股息， 全年每股现金分红2.016元（含税），扣除已派发的2025年度中期现金股息后，本次每股现金分红1.003 元（含税）。 | | | | 本年比上年 | | --- | --- | --- | --- | | (人民幣百萬元 · 特別註明除外) | 2025年 | 2024年 | 增减(%) | | 經營業績 | | | | | 三大名味就 | 337,273 | 337,121 | 0.05 | | 税前利潤 | 178,993 | 178,652 | 0.19 | | 歸屬於本行股東的浮利潤 | 150,181 | 148,391 | 1.21 | | 每股計(人民幣元) | | | | | 歸屬於本行普通股股東的基本盈利(2) | 5.70 | 5.66 | 0.71 | | 歸屬於本行普通股股東的稀釋盈利 | 5.70 | 5.66 | 0.71 | | | 2025年 | 2 ...

Group 1 - The core viewpoint of the article is that China Merchants Bank plans to increase its total customer deposits and total customer loans and advances by 6% to 7% by 2026 [1] Group 2 - The company aims to enhance its financial position by focusing on customer deposits and loans, indicating a growth strategy in its banking operations [1] - This growth target reflects the bank's confidence in the market and its commitment to expanding its customer base and financial services [1] - The planned increase in deposits and loans suggests a proactive approach to meet the evolving needs of customers and to strengthen its competitive position in the banking sector [1]

截至报告期末，集团不良贷款余额682.06亿元，较上年末增加25.96亿元；不良贷款率0.94%，较上年末 下降0.01个百分点；拨备覆盖率391.79%，较上年末下降20.19个百分点；贷款拨备率3.68%，较上年末 下降0.24个百分点。 格隆汇3月27日丨招商银行(03968.HK)公布2025年度业绩，报告期内，集团实现营业净收入3,372.73亿元 (人民币，下同)，同比增长0.05%，其中，净利息收入2,155.93亿元，同比增长2.04%，非利息净收入 1,216.80亿元，同比下降3.31%；实现归属于本行股东的净利润1,501.81亿元，同比增长1.21%；归属于 本行股东的平均总资产收益率(ROAA)和归属于本行普通股股东的平均净资产收益率(ROAE)分别为 1.19%和13.44%，同比分别下降0.09和1.05个百分点。董事会建议向普通股股东派发2025年度现金股 息，全年每股现金分红2.016元(含税)，扣除已派发的2025年度中期现金股息后，本次每股现金分红 1.003元(含税)。 截至报告期末，集团资产总额130,705.23亿元，较上年末增长7.56%；贷款和垫款总额72,58 ...

格隆汇3月27日｜招商银行全年净利润1,501.8亿元人民币，预估1,494.3亿元人民币。全年净利息收入 2,155.9亿元人民币，预估2,152.8亿元人民币。全年不良贷款率0.94％，预估0.93％。全年拨备覆盖率 391.8％，预估397.6％。全年净息差1.87％，预估1.86％。全年不良贷款额682.1亿元人民币，预估679.6 亿元人民币。 ...

Financial Performance - In 2025, the company achieved a stable growth in operating performance, with revenue and profit both returning to "double growth" [10] - Net operating income for the reporting period was 337.27 billion yuan, and net profit attributable to shareholders was 150.18 billion yuan, both showing positive year-on-year growth [21] - The company's operating income for 2025 was RMB 337,273 million, a slight increase of 0.05% compared to RMB 337,121 million in 2024 [45] - The pre-tax profit for 2025 reached RMB 178,993 million, reflecting a growth of 0.19% from RMB 178,652 million in the previous year [45] - Net profit attributable to shareholders was RMB 150,181 million, up by 1.21% from RMB 148,391 million in 2024 [45] - Total assets increased by 7.56% to RMB 13,070,523 million from RMB 12,152,036 million year-over-year [45] - Total loans and advances amounted to RMB 7,258,058 million, representing a growth of 5.37% compared to RMB 6,888,315 million in 2024 [45] - Customer deposits rose by 8.13% to RMB 9,836,130 million from RMB 9,096,587 million in the previous year [45] Risk Management - The company has detailed the major risks and corresponding measures in its risk management section [8] - The non-performing loan ratio improved to 0.94%, with a provision coverage ratio of 391.79%, indicating strong risk mitigation capabilities [21] - The company aims to strengthen risk management and asset classification, ensuring adequate provisioning and actively managing overdue loans [169] - The company recognizes the challenges posed by a low interest rate environment and aims to strengthen its survival and development capabilities [30] - The company is committed to supporting the optimization of industrial structure and the transformation of traditional manufacturing [110] Capital Adequacy - The core Tier 1 capital adequacy ratio reached 14.16%, and the total capital adequacy ratio was 18.24% [21] - The core Tier 1 capital adequacy ratio improved significantly, rising from 17th to 8th among the world's top 1000 banks [30] - The leverage ratio as of December 31, 2025, was 8.00%, a decrease of 0.46 percentage points from the previous year [124] - The balance of loan loss provisions as of December 31, 2025, was RMB 267.222 billion, a decrease of RMB 30.79 billion from the previous year, with a coverage ratio of 391.79%, down 20.19 percentage points [122] Customer Growth - The number of retail customers reached 220 million, and the total number of corporate customers was 3.62 million [12] - The total number of retail customers reached 224 million, an increase of 6.67% year-on-year, with high-value customers (total assets over CNY 500,000) growing by 13.29% to 5.93 million [180] - The number of corporate clients increased to 3.62 million, a growth of 14.40% year-on-year, with 657,200 new accounts opened during the reporting period [192] Dividend Policy - The company plans to distribute a cash dividend of RMB 2.016 per share for the 2025 fiscal year, with a net dividend of RMB 1.003 per share after the interim dividend [9] - The cash dividend payout ratio increased to 35%, reflecting a commitment to providing stable returns to shareholders [12] - The company implemented a mid-term cash dividend policy with a payout ratio of over 35% starting from the 2023 fiscal year [22] Innovation and Technology - The company has implemented over 800 AI application scenarios, achieving a 50% coverage rate in intelligent scenarios [1] - The company launched the first RMB-settled Mastercard international debit card and introduced innovative financing products such as "Zhaoqi Loan" and "Sci-tech Loan" [24] - The company invested CNY 12.901 billion in information technology, representing 4.31% of its net operating income [146] - The AI-assisted coding product "Coding Assistant" has achieved a coverage rate of over 97% among R&D personnel, significantly improving coding efficiency [152] Asset Management - Total assets under management (AUM) surpassed 17 trillion yuan, with a compound annual growth rate of over 13% in the past five years [1] - The total scale of asset management business reached CNY 4.71 trillion, an increase of 5.13% compared to the end of the previous year [144] - Retail customer total assets (AUM) amounted to CNY 17.08 trillion, a year-on-year increase of 14.44% [180] Corporate Strategy - The company emphasizes quality, efficiency, and scale in its development strategy, aiming for high-quality growth and improved service to the real economy [10] - The company aims to enhance its competitive edge through strategic transformation in technology finance, green finance, and digital finance [13] - The company plans to enhance asset-liability management to support continuous growth in net interest income and stabilize net interest yield [158] - The company will accelerate the transformation of asset management business to enhance product innovation and increase revenue contribution from asset management [161] International Expansion - The international assets of overseas institutions grew by 12.88% year-over-year, with revenue increasing by 33.78% during the reporting period [24] - The group has established 6 branches and 3 wholly-owned subsidiaries overseas, enhancing its international presence [138] Customer Service and Experience - The company processed 1.4085 million paperless reimbursement requests during the reporting period, a year-on-year increase of 23.76%, with the paperless reimbursement ratio rising to 89.62%, up by 7.73 percentage points from the end of the previous year [151] - The number of clients served by the financial management cloud service reached 799,300, a growth of 29.93% compared to the end of the previous year [149] - The company is focusing on enhancing AI capabilities and integrating technology into business operations to improve customer experience and operational efficiency [187]

Group 1 - The Bank ETF Fuquo (159887) opened down 0.39% at 1.288 yuan on March 27 [1][2] - Major holdings in the Bank ETF Fuquo include: - China Merchants Bank down 0.15% - Industrial Bank down 0.42% - Industrial and Commercial Bank down 0.13% - Agricultural Bank down 0.31% - Bank of Communications down 0.15% - Pudong Development Bank down 0.50% - Jiangsu Bank down 0.09% - Ping An Bank down 0.27% - Shanghai Bank unchanged - Minsheng Bank down 0.26% [1][2] - The performance benchmark for the Bank ETF Fuquo is the CSI 800 Bank Index return, managed by Fuquo Fund Management Co., Ltd. [1][2] - Since its establishment on May 12, 2021, the Bank ETF Fuquo has returned 29.40%, with a return of 3.16% over the past month [1][2]

Group 1 - The Bank ETF Hu'an (516210) opened with a gain of 2.88%, priced at 1.393 yuan [1][2] - Major holdings in the Bank ETF Hu'an include several banks, with the following opening performances: China Merchants Bank down 0.15%, Industrial Bank down 0.42%, Industrial and Commercial Bank down 0.13%, Agricultural Bank down 0.31%, Bank of Communications down 0.15%, Pudong Development Bank down 0.50%, Jiangsu Bank down 0.09%, Ping An Bank down 0.27%, Shanghai Bank unchanged, and Minsheng Bank down 0.26% [1][2] - The performance benchmark for the Bank ETF Hu'an is the CSI Bank Index return, managed by Hu'an Fund Management Co., Ltd., with a fund manager named Su Qingyun [1][2] - Since its establishment on September 3, 2021, the Bank ETF Hu'an has achieved a return of 35.46%, with a return of 3.04% over the past month [1][2]