第一财经·2025-10-31 04:11Core Viewpoint - The six major state-owned banks in China reported positive year-on-year growth in both operating income and net profit for the first three quarters of 2025, despite a decline in net interest margins [3][4]. Financial Performance - The six major banks achieved approximately 2.73 trillion yuan in operating income, a year-on-year increase of 1.87%, and a net profit attributable to shareholders of about 1.72 trillion yuan, up 1.22% year-on-year [3][4]. - Among these banks, Bank of China and Industrial and Commercial Bank of China led in revenue growth rates at 2.69% and 2.17%, respectively, while Agricultural Bank of China had a net profit growth rate exceeding 3% at 3.03% [5][6]. - The absolute profit figures for the banks were as follows: Industrial and Commercial Bank earned approximately 269.9 billion yuan, Construction Bank 257.4 billion yuan, and Agricultural Bank 220.9 billion yuan [6]. Net Interest Margin and Income Structure - Net interest income continued to decline, with only the Transportation Bank showing a year-on-year increase of 1.46% in net interest income; the other five banks experienced varying degrees of decline, with Construction Bank and Bank of China seeing declines exceeding 3% [6][7]. - The net interest margin for the banks showed a downward trend, with the decline in margin narrowing significantly compared to the first half of the year [6][7]. Asset Quality and Growth - As of the end of the third quarter, total assets of the six banks approached 218 trillion yuan, reflecting a growth of approximately 1.85% since mid-year [3][8]. - The total loan amount exceeded 127 trillion yuan, with a growth of around 9 trillion yuan compared to the end of the previous year, and the fastest loan growth was seen in Bank of China, Postal Savings Bank, and Agricultural Bank, all exceeding 8% [8][9]. - Asset quality showed an overall improvement, with five banks reporting a decrease in non-performing loan ratios compared to the end of the previous year, while Postal Savings Bank saw a slight increase [9][10]. Market Capitalization - As of October 30, Agricultural Bank led in total market capitalization at 2.74 trillion yuan, followed by Industrial and Commercial Bank at 2.59 trillion yuan [10].