研报掘金丨国海证券：维持无锡银行“买入”评级，Q3营收利润增速稳步提升

Core Viewpoint - Wuxi Bank's revenue and net profit for Q1-Q3 2025 show a year-on-year growth of 3.87% and 3.78% respectively, indicating an improvement compared to the first half of 2025 [1] Financial Performance - Revenue and net profit growth rates in Q3 have steadily increased compared to previous quarters [1] - Non-interest income has significantly contributed to overall performance, with net fee income's decline narrowing compared to the first half of the year, while other non-interest income grew by 11.5% year-on-year [1] Loan and Deposit Growth - The year-on-year growth rate for loans and deposits is over 10%, with the net increase in corporate loans being double that of the same period in 2024 [1] Asset Quality - The non-performing loan ratio remains stable quarter-on-quarter, and the provision coverage ratio has slightly increased [1] Dividend Policy - The company announced a mid-term dividend plan with a payout ratio of 17.5% [1]