瑞丰银行三季度净息差首度企稳，资产质量仍存压力

Core Viewpoint - In the third quarter of this year, Ruifeng Bank's net interest margin (NIM) showed signs of stabilization, with a notable increase of 3 basis points compared to the end of the second quarter, making it stand out among listed banks [2][5]. Financial Performance - As of September 30, Ruifeng Bank achieved an operating income of 3.356 billion yuan, a year-on-year increase of 1.03%, and a net profit of 1.541 billion yuan, up 5.50% year-on-year [3]. - The bank's income structure included net interest income of 2.421 billion yuan, net fee and commission income of 96 million yuan, and investment income of 815 million yuan, all showing growth compared to the same period last year, with increases of 6.12%, 162.66%, and 4.50% respectively [3]. Net Interest Margin Trends - Ruifeng Bank's NIM has been on a declining trend in recent years, dropping from 2.56% in 2019 to 1.50% by the end of 2024, and further to 1.46% by June 2025, representing a decrease of 1.1 percentage points since 2019 [3][4]. - The bank's net interest income has also seen a decline in contribution, with figures of 3.188 billion yuan, 3.054 billion yuan, and 3.004 billion yuan for the years 2022, 2023, and 2024 respectively [3]. Management Measures - In response to the pressure on NIM, Ruifeng Bank has implemented various management measures, including stabilizing NIM as a "hard indicator" since 2025, optimizing deposit structure, and enhancing loan pricing management [4][5]. - The bank organized a "2025 NIM Management Case Competition" in September to promote effective experiences and innovative practices in NIM management across its branches [5]. Asset Quality - As of the end of the third quarter, Ruifeng Bank's total assets reached 230.265 billion yuan, with total loans amounting to 133.544 billion yuan and total liabilities of 210.692 billion yuan [7]. - The bank's non-performing loan (NPL) ratio stood at 0.98%, unchanged from the second quarter but down 0.01 percentage points from the beginning of the year [7]. - The proportion of attention-class loans and loss-class loans has increased, with attention-class loans at 251.9 million yuan (1.89% of total loans) and loss-class loans at 57.3 million yuan (0.43% of total loans) [7][8]. Economic Environment Impact - The increase in overdue loans in the first half of the year was attributed to various factors, including weakened repayment capabilities among individual borrowers and a decline in regional property prices [8]. - Despite the challenges, the bank maintains that the overall risk from personal loans, primarily secured by real estate, remains manageable and will not significantly disrupt the stability of the NPL ratio [8].