顺德农商行跨区域收购再落子，如何开启竞争力提升之局？

Core Viewpoint - Shunde Rural Commercial Bank plans to hold an extraordinary shareholders' meeting on December 18, 2025, to discuss the absorption and merger of Shenzhen Longhua Xinhua Village Bank, marking its first expansion into Shenzhen [2][3]. Group 1: Expansion Strategy - The merger with Shenzhen Longhua Xinhua Village Bank is part of Shunde Rural Commercial Bank's regional expansion strategy, which has included the successful absorption of multiple village banks since 2025 [3]. - The bank has become the largest "buyer" of village banks in Guangdong since the reform and restructuring of village banks began in 2024, having absorbed several banks including Foshan Gaoming Shunyin Village Bank and San Shui Zhujiang Village Bank [3]. - If the merger is completed, Shunde Rural Commercial Bank will establish its first branch in Shenzhen, a key city in the Greater Bay Area [3]. Group 2: Financial Performance - In the first half of 2025, Shunde Rural Commercial Bank reported a revenue of 3.622 billion yuan and a net profit of 1.296 billion yuan, representing year-on-year declines of 5.97% and 17.93%, respectively [7]. - As of June 2025, the bank's non-performing loan (NPL) ratio was 1.6%, a slight decrease of 0.01 percentage points from the end of the previous year, but the provision coverage ratio fell to 162.54%, down 12.07 percentage points [7]. - The bank's market share in deposits and loans in Foshan has been declining, with loan market share at 10.99%, down 0.98 percentage points, and deposit market share at 12.3%, down 1.03 percentage points compared to the end of 2022 [7]. Group 3: Risk Factors - The bank faces cross-regional operational risks due to its expansion strategy, which includes establishing branches in different regions and holding stakes in other rural commercial banks [6]. - The NPL ratio for the bank's village banks was reported at 2.01%, which is significantly higher than the bank's overall NPL ratio of 1.61% [6]. - The bank's NPLs are concentrated in the transportation, warehousing, postal, and manufacturing sectors, which are experiencing increased uncertainty due to macroeconomic slowdowns [8].