Zhong Guo Ji Jin Bao·2025-08-28 13:50Core Viewpoint - Zhejiang Commercial Bank demonstrates a commitment to long-termism and risk management, achieving stable operations despite industry challenges, with total assets reaching 3.35 trillion yuan, a 0.63% increase from the previous year [1][2]. Group 1: Financial Performance - The bank reported operating income of 33.248 billion yuan and a net profit attributable to shareholders of 7.667 billion yuan for the first half of the year [1][4]. - The non-performing loan ratio decreased by 0.02 percentage points, indicating improved asset quality [1][2]. - The bank's total assets grew by 0.63%, with loans and advances totaling 18.9 trillion yuan, a 1.69% increase, reflecting a strong focus on credit support for the real economy [2][3]. Group 2: Business Strategy - Zhejiang Commercial Bank shifted its focus from "asset-driven" to "liability-driven" growth, optimizing its asset-liability structure to achieve sustainable development [2]. - The bank initiated a new three-year action plan (2025-2027) to deepen its presence in Zhejiang, with financing services in the province reaching 1.12 trillion yuan, surpassing last year's total [2][4]. - The bank's strategy emphasizes low-risk, balanced returns, with a customer base growth of approximately 10% contributing to the reduction of non-performing loans [2][3]. Group 3: Revenue and Cost Management - The bank's operating income faced pressure, declining by 5.76% year-on-year, while net interest margin decreased by 2 basis points to 1.69% [4]. - The cost of deposits decreased by 31 basis points, helping to mitigate the impact of narrowing interest margins [4]. - The bank's management expenses fell by 5.77% to 9.375 billion yuan, showcasing effective cost control measures [4]. Group 4: Retail and Corporate Banking - The retail banking segment showed positive momentum, with assets under management (AUM) exceeding 700 billion yuan and retail sales commissions increasing by 36% [5]. - The corporate banking segment contributed 57% of total revenue, with a significant increase in corporate deposits [4][5]. - The bank's focus on differentiated services and digital transformation is expected to enhance profitability in the long term [6][7]. Group 5: Future Outlook - The bank plans to maintain strategic focus and enhance financial services to the real economy, leveraging digital capabilities and innovative products [7][8]. - Supply chain finance and technology finance are highlighted as key areas for growth, with a low non-performing rate of 0.17% in supply chain finance [7]. - The bank aims to further develop its digital infrastructure and risk management capabilities to support its long-term growth strategy [7][8].