Changshu Bank(SH:601128) Xin Lang Cai Jing·2025-10-31 07:35Core Viewpoint - Changshu Bank reported a strong performance in the first three quarters of 2025, with a year-on-year increase in operating income and net profit, although there was a decline in quarterly revenue in Q3 [1][2]. Financial Performance - For the first three quarters of 2025, Changshu Bank achieved operating income of 9.052 billion yuan, an increase of 8.15% year-on-year, and a net profit attributable to shareholders of 3.357 billion yuan, up 12.82% year-on-year [1]. - In Q3 alone, the bank's revenue was 2.99 billion yuan, reflecting a quarter-on-quarter decline of 3% [1][2]. - The bank's net interest income for Q3 was 2.428 billion yuan, down 4.5% quarter-on-quarter, while non-interest income was 562 million yuan, a significant drop of 27% from the previous quarter [1][3]. Non-Interest Income - In the first three quarters, non-interest income reached 1.984 billion yuan, marking a 35% year-on-year increase, with investment income contributing 1.669 billion yuan, up 25% year-on-year [2]. - However, the bank experienced a fair value loss of 160 million yuan, which was an increase compared to the same period last year [2]. Asset and Liability Management - As of the end of Q3 2025, Changshu Bank's total assets were 402.23 billion yuan, a 9.72% increase from the end of the previous year, with total loans of 256.764 billion yuan (up 6.6%) and total deposits of 312.19 billion yuan (up 8.95%) [3]. - The non-performing loan ratio stood at 0.76%, a slight decrease of 0.01 percentage points from the end of the previous year, while the provision coverage ratio was 462.95%, down 37.56 percentage points [3]. Net Interest Margin - The net interest margin for Changshu Bank was 2.57%, down 14 basis points from the end of last year, but still leading among A-share listed banks [4]. - The bank has actively optimized its deposit structure and managed costs to mitigate the downward trend in net interest margin, which has shown signs of stabilization [4][5]. Industry Trends - The banking sector is experiencing a transition from actively reducing costs to restoring asset yields, with signs of marginal improvement in net interest margins across several banks [5]. - Analysts suggest that the downward cycle of net interest margins may be nearing its end, which could enhance the stability of bank profitability and credit investment [5].