HZBank(SH:600926) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-27 14:14Core Insights - Hangzhou Bank reported a steady performance in the first half of 2025, with revenue and net profit increasing by 3.90% and 16.66% year-on-year, respectively, placing it among the top tier in the industry [1][2] Financial Performance - The bank achieved an operating income of 20.093 billion yuan, a 3.90% increase from the previous year, and a net profit attributable to shareholders of 11.662 billion yuan, reflecting a 16.66% year-on-year growth [2] - Basic earnings per share (unannualized) reached 1.75 yuan, up 6.71% year-on-year, with a weighted average return on equity (unannualized) of 9.50%, indicating strong profitability [2] - Net interest income was 13.090 billion yuan, growing by 9.38%, while net fee and commission income rose by 10.78% to 2.337 billion yuan [2] - The cost-to-income ratio improved to 24.08%, down 0.59 percentage points from the previous year, demonstrating effective cost control [2] Asset Quality and Risk Management - As of the end of June, total assets reached 2.24 trillion yuan, a 5.83% increase from the end of the previous year, with total loans exceeding 1 trillion yuan, up 7.67% [3] - The non-performing loan (NPL) ratio stood at 0.76%, unchanged from the end of the previous year, indicating stable asset quality [3] - The bank maintained a provision coverage ratio of 520.89%, providing a solid buffer against potential risks [3] Service to the Real Economy - The bank enhanced its financial services for technology innovation, establishing a specialized team for sectors like healthcare and smart manufacturing, with a technology loan balance of 115.18 billion yuan [4] - Green finance initiatives progressed, with green loan balances reaching 97.17 billion yuan, positioning the bank as a leader among local banks in Zhejiang province [4] - The bank focused on supporting the manufacturing sector, with manufacturing loans totaling 116.4 billion yuan [4] Wealth Management and Retail Banking - Retail customer total assets (AUM) reached 654.36 billion yuan, an 8.66% increase, with retail wealth management product sales totaling 235.705 billion yuan [5] - The scale of Hangzhou Bank's wealth management products exceeded 510 billion yuan, growing by 17% [5] Capital and Shareholder Developments - Significant progress was made in capital replenishment, with the transfer of 329.64 million shares from Commonwealth Bank of Australia to New China Life Insurance completed in June 2025 [6] - The conversion of 14.994 billion yuan of convertible bonds into shares increased the bank's total share capital from 5.93 billion shares to 7.249 billion shares, enhancing its core tier one capital adequacy ratio to 9.74% [6]