新帅改革百日，华夏银行何以实现“V型”反弹

Core Viewpoint - The Chinese banking industry is entering a deep adjustment period in 2025, with a narrowing net interest margin becoming the new normal, and the previous growth model relying on scale expansion is no longer sustainable. The performance differentiation among banks and the pressure for transformation are increasingly evident [1]. Group 1: Performance Analysis - Huaxia Bank's mid-year performance report serves as a critical window to observe industry transformation trends, showing a "V-shaped" recovery with a 4.15% year-on-year revenue growth in Q2, reversing the decline seen in Q1 [1][3]. - For the first half of the year, Huaxia Bank achieved operating income of 45.522 billion yuan, a year-on-year decline that narrowed by nearly 12 percentage points compared to Q1, and a net profit of 11.47 billion yuan, down 7.95% year-on-year, which is an improvement of over 6 percentage points from Q1 [3][4]. - The significant recovery in performance is attributed to a substantial reduction in fair value losses, which shrank to 186 million yuan by the end of Q2, contributing over 2.2 billion yuan to the quarter's positive recovery [3][4]. Group 2: Strategic Initiatives - Huaxia Bank's net interest margin stood at 1.54%, significantly higher than the industry average of 1.42%, providing a relatively ample profit cushion. The management plans to stabilize the margin further by optimizing the asset-liability structure [4]. - The bank's risk indicators remain robust, with a non-performing loan ratio of 1.60% and a provision coverage ratio of 156.67%, meeting regulatory requirements [4]. - The bank continues to prioritize shareholder returns, proposing a cash dividend of 1.00 yuan per 10 shares, totaling 1.591 billion yuan, reflecting confidence in maintaining risk control while pushing for reform [4]. Group 3: Growth Strategy - Huaxia Bank is focusing on technology and green finance as key growth engines, with technology loans reaching 210.5 billion yuan (up 32.31% year-on-year) and green loans at 332.9 billion yuan (up 16.79% year-on-year), both outpacing the overall loan growth of 2.15% [6]. - The bank is implementing a systematic approach to support its strategic focus, including enhancing its team and risk control strategies in technology finance and collaborating with the Asian Development Bank for green finance projects [6]. - In the areas of inclusive finance, pension finance, and digital finance, the bank is actively developing tailored products and services, such as reducing interest rates for small and micro-enterprise loans and expanding personal pension accounts [7]. Group 4: Operational Efficiency - Huaxia Bank has demonstrated agility in market actions, quickly launching consumer loan interest subsidy services in response to new policies, showcasing its operational efficiency [8]. - The bank's digital transformation is deepening, with upgrades to customer platforms and the application of AI technologies, resulting in significant operational efficiency gains [7][8]. - Overall, Huaxia Bank is successfully translating its new management's reform blueprint into measurable business outcomes, finding a new balance between stability and progress amid the banking industry's deep adjustments [8].