银行业周度追踪2025年第33周：中报营收增速回升，龙头城商行扩表强劲-20250825

Investment Rating - The industry investment rating is "Positive" and maintained [12] Core Insights - The revenue growth rate of banks has rebounded in the second quarter, with notable performance from leading city commercial banks [6][40] - Interest income growth remains stable, with a reduction in the decline of interest margins, benefiting from improved funding costs [6][40] - Non-interest income growth has also recovered, supported by improved middle-income growth and stabilization in the bond market [6][40] - The overall asset quality of various banks remains stable, with a general decline in non-performing loan ratios [7][42] Summary by Sections Revenue Growth - As of August 22, 2025, ten listed banks have disclosed their semi-annual performance, with a general rebound in revenue growth in the second quarter, particularly notable for Jiangyin Bank, which exceeded expectations with double-digit growth [6][40] Profitability - The net profit growth rate for listed banks in the first half of the year is generally stable, with banks like Qingdao Bank, Qilu Bank, Hangzhou Bank, and Jiangyin Bank achieving over 15% high growth [6][42] Scale and Market Position - City commercial banks have shown strong expansion, with Jiangsu Bank, Chongqing Bank, and Ningbo Bank leading in credit growth, benefiting from their competitive advantages in developed regions [7][42] Asset Quality - The overall asset quality of various banks is stable, with a general decline in non-performing loan ratios due to rapid expansion and write-offs [7][42] - The provision coverage ratio has slowed its decline, with seven listed banks showing a quarter-on-quarter increase in the second quarter [7][42] Market Performance - The Changjiang Bank Index rose by 1.1% this week, underperforming compared to the CSI 300 Index by 3.0% [8][20] - The average dividend yield of the six major state-owned banks is 3.85%, with a spread of 207 basis points over the 10-year government bond yield [23][26]