券商中国·2025-10-28 15:27Core Viewpoint - Chongqing Rural Commercial Bank (Yunong Bank) reported a slight increase in revenue and net profit for the first three quarters of 2025, but faced significant declines in non-interest income, which negatively impacted overall revenue growth [1][4]. Financial Performance - For the first nine months of 2025, the bank achieved operating income of 21.658 billion yuan, a year-on-year increase of 0.67%, and a net profit attributable to shareholders of 10.694 billion yuan, up 3.74% year-on-year [1]. - Non-interest income saw a significant decline of 20.9% year-on-year, with the drop accelerating each quarter [1][4]. - The bank's total assets reached approximately 1.66 trillion yuan by the end of September, marking a 9.3% increase from the beginning of the year, the highest growth rate for the same period in nearly four years [2]. Loan Growth and Strategy - Customer loans and advances totaled nearly 778 billion yuan, reflecting an 8.92% increase year-to-date, also the highest growth in four years, primarily driven by corporate loans [2]. - The bank aims to achieve an average annual asset growth of 100 billion yuan over the next three years, focusing on agricultural loans and inclusive small and micro loans [2][3]. Non-Interest Income Challenges - The bank's non-interest income accounted for about 20% of total income, but the decline in this area has been a drag on overall revenue growth [4]. - The bank's fee and commission income decreased by 2.12 billion yuan, while investment income and fair value changes dropped by 6.3 billion yuan year-on-year [5]. Management Changes - In April 2023, Liu Xiaojun was appointed as the new chairman, marking a significant leadership change for the bank [6]. - A series of executive changes occurred, including the retirement and resignation of several vice presidents, leading to a new executive structure [6][7].