厦门银行营收、净利“双增”，贷款增超18%

Core Viewpoint - The growth logic of city commercial banks is changing, as exemplified by Xiamen Bank's 2025 performance report, which highlights a strategy of "increasing volume to compensate for price" Group 1: Financial Performance - As of the end of 2025, Xiamen Bank's total assets reached 453.099 billion yuan, a year-on-year increase of 11.11%, with loans and advances growing even more aggressively by 18.39% [1] - The bank achieved total operating revenue of 5.856 billion yuan in 2025, reflecting a year-on-year growth of 1.69%, while net profit attributable to shareholders reached 2.634 billion yuan, with a growth rate of 1.52% [1] Group 2: Asset and Profitability Dynamics - The bank's asset growth significantly outpaced revenue and profit growth, with asset growth being over six times that of revenue growth, indicating a dilution of return on assets [3] - The rapid expansion of the balance sheet has not translated proportionately into the income statement, highlighting the common industry challenge of narrowing interest margins [3] Group 3: Provision Coverage and Asset Quality - By the end of 2025, the bank's provision coverage ratio was 312.63%, a significant decrease of 79.32 percentage points compared to the previous year, indicating potential pressure on profit maintenance [4] - The slight increase in non-performing loan ratio to 0.77% suggests that the decline in provision coverage may be a response to revenue pressures rather than an improvement in asset quality [5] Group 4: Liquidity and Growth Strategy - The growth rate of deposits at Xiamen Bank was 13.75%, which lagged behind loan growth by nearly 5 percentage points, leading to an increased loan-to-asset ratio [7] - This strategy of consuming liquidity to achieve asset growth may pose long-term challenges to capital adequacy and liquidity management [7] Group 5: Industry Context - Overall, Xiamen Bank's 2025 report illustrates the typical struggles of small and medium-sized banks during a period of narrowing interest margins, relying on rapid asset expansion to offset declining margins while depleting provision resources to maintain profit growth [8]