Zhong Guo Jin Rong Xin Xi Wang·2025-08-28 09:33Core Viewpoint - CITIC Bank reported a net profit of 36.478 billion yuan for the first half of 2025, reflecting a year-on-year growth of 2.78%, with a notable acceleration in growth during the second quarter, indicating an improvement in profitability momentum [1][10] Financial Performance - The bank's operating income for the first half of 2025 was 105.762 billion yuan, a decrease of 2.99% year-on-year, with net interest income at 71.201 billion yuan, down 1.94%, and non-interest income at 34.561 billion yuan, down 5.08% [1][10] - In Q2 2025, net profit grew by 4.11% year-on-year, with a decline in operating income narrowing to 2.28% [1][3] Revenue Drivers - Non-interest income saw a decline of 5.1% year-on-year, but improved significantly by 19.4% quarter-on-quarter in Q2, driven by a 6.18% increase in fee income [3][5] - The bank's net interest margin was 1.63%, down 0.14 percentage points year-on-year, while the net interest spread was 1.60%, down 0.11 percentage points [10][11] Asset and Liability Management - As of June 2025, CITIC Bank's total assets reached 9.86 trillion yuan, an increase of 325.7 billion yuan or 3.4% from the end of the previous year, with a focus on optimizing asset structure [5][7] - Total liabilities exceeded 9 trillion yuan, also growing by 3.4%, with customer deposits surpassing 6 trillion yuan, reflecting a 5.7% increase [7][10] Risk Management and Asset Quality - The non-performing loan balance was 67.134 billion yuan, with a non-performing loan ratio of 1.16%, stable compared to the previous year [12][15] - The bank has implemented measures to enhance risk control and improve asset quality, particularly in retail loans, with a focus on low-risk products and improved customer screening [15][16] Future Outlook - CITIC Bank's management expressed confidence in achieving better-than-average performance for the full year by focusing on asset allocation, interest margin stability, and growth in non-interest income [10][12]