INDUSTRIAL BANK(SH:601166) Zhong Jin Zai Xian·2025-10-31 13:16Core Viewpoint - The report highlights that Industrial Bank has achieved stable operational performance in the first three quarters of 2025, focusing on value banking construction and enhancing five key capabilities: strategic execution, customer service, investment trading, comprehensive risk control, and management promotion [1] Financial Performance - As of the end of September, Industrial Bank's total assets reached 10.67 trillion yuan, an increase of 1.57% from the end of the previous year [1] - The bank reported operating income of 161.23 billion yuan, with a decline rate narrowing by 0.47 percentage points compared to the first half of the year [1] - Net profit for the period was 63.08 billion yuan, reflecting a year-on-year growth of 0.12% [1] - The non-performing loan (NPL) ratio stood at 1.08%, unchanged from the end of June, while the attention loan ratio decreased by 0.04 percentage points to 1.67% [1][4] Asset and Liability Structure - The bank has optimized its asset and liability structure, with loans and deposits increasing their proportion in total liabilities and assets by 2.17 percentage points and 1.53 percentage points, respectively, compared to the beginning of the year [2] - Loan balance reached 5.99 trillion yuan, up 4.42% year-on-year, with significant growth in green loans (18.64%), technology loans (17.70%), and medium to long-term loans in manufacturing (13.82%) [2] - Deposit balance was 5.83 trillion yuan, a 5.47% increase from the previous year, with retail deposits reaching 1.76 trillion yuan [2] Customer Service and Risk Management - The number of corporate clients increased by 6.53% to 1.6358 million, while retail clients grew by 3.40% to 114 million [3] - The bank's interest income was 110.96 billion yuan, a decline of 0.56%, but the decrease was less than in the first half of the year [3] - New non-performing assets and the non-performing asset generation rate both decreased, indicating a reduction in risk concentration in high-risk areas such as real estate and local government financing platforms [3][4] Digital Transformation and Innovation - Industrial Bank is advancing its digital transformation by focusing on intelligent transformation, with mobile banking active users reaching 24.73 million, a year-on-year increase of 10.41% [5] - The bank aims to enhance its AI capabilities and has established a "6+X" AI capability system [5] Strategic Development - The bank continues to strengthen its three key areas: green banking, wealth management, and investment banking, with green loan balances exceeding 1.1 trillion yuan [6] - The bank is also preparing to establish a financial asset investment company to enhance its "commercial bank + investment bank" advantage [7] Dividend Policy and Market Position - Industrial Bank announced its first mid-term dividend plan, reflecting a commitment to returning value to shareholders [8] - The bank has maintained a high dividend rate, with a static dividend yield of 5.29%, indicating strong investment value [9]