农商行龙头“交卷”，这项指标下滑，什么情况？

Core Viewpoint - Chongqing Rural Commercial Bank (Yunong Bank) reported its Q3 2025 financial results, showing a slight increase in revenue but a significant decline in non-interest income, raising concerns about its financial health and market position [1][3]. Financial Performance - For the first nine months of 2025, the bank achieved an operating income of 21.658 billion yuan, a year-on-year increase of 0.67%, and a net profit attributable to shareholders of 10.694 billion yuan, up 3.74% year-on-year [1]. - The bank's non-interest income fell by 20.9% year-on-year, with a quarterly decline that worsened each quarter, indicating a significant drag on overall revenue growth [1][6]. - The total assets of the bank reached approximately 1.66 trillion yuan by the end of September, marking a 9.3% increase from the beginning of the year, the highest growth rate for the same period in nearly four years [3]. Loan and Capital Management - Customer loans and advances totaled nearly 778 billion yuan, reflecting an 8.92% increase year-to-date, also the highest growth rate in four years, primarily driven by corporate loans [3]. - The bank's core Tier 1 capital adequacy ratio decreased to 12.98%, and the total capital adequacy ratio fell to 14.77%, both down by over 1 percentage point since the beginning of the year, indicating a decline in capital strength [3]. Strategic Initiatives - The bank aims to increase its asset scale by an average of 100 billion yuan annually over the next three years, with a focus on agricultural loans and inclusive small and micro loans [3][4]. - The bank plans to enhance its loan issuance capabilities by leveraging digital tools and industry chain dynamics, targeting significant strategic projects and improving inclusive finance [4]. Management Changes - The bank appointed Liu Xiaojun as the new chairman and executive director, marking a significant leadership change since its establishment in 2008 [8]. - Recent management changes include the retirement of several vice presidents and the appointment of new executives, resulting in a restructured leadership team [9].