三季报透视：上市银行营业收入合计超4.3万亿元，息差释放企稳信号

Core Insights - The operating performance of listed banks in A-shares has improved, with 42 banks reporting a total operating income exceeding 4.3 trillion yuan for the first three quarters of 2025, and over 60% of these banks achieving year-on-year revenue growth [1] Group 1: Revenue Performance - The overall performance of banks was better than expected, as noted by multiple brokerage analysts analyzing the third-quarter reports [1] - The stabilization of net interest margins is a key factor supporting the revenue growth of listed banks, despite indications from several bank executives that net interest margins are still in a downward trend [1] Group 2: Market Trends - The banking sector showed positive performance on November 5, with the banking ETF fund (515020) experiencing a slight increase [1] - Since the beginning of November, the A-share market has been volatile, but the banking sector has risen against this trend, attributed to the current market's capital flow [1] - The strong performance of bank stocks is linked to a shift in market funds towards undervalued, high-dividend defensive sectors, with banks being favored for their stable fundamentals and higher dividend yields [1]