证券时报·2025-11-15 02:49Core Viewpoint - The banking and insurance sectors in China have shown signs of stability and growth, with improvements in net interest margins and asset quality, indicating a potential recovery phase for the industry [2][4][5]. Banking Sector Overview - As of the end of Q3 this year, the total assets of China's banking institutions reached 474.3 trillion yuan, a year-on-year increase of 7.9%. Large commercial banks accounted for 208.1 trillion yuan, growing by 10% [2]. - The net profit of commercial banks for the first three quarters was 1.9 trillion yuan, remaining stable compared to the same period last year. The net interest margin stood at 1.42%, stable compared to Q2 but down by 11 basis points year-on-year [4][5]. - The net interest margin for joint-stock commercial banks increased by 1 basis point compared to the end of Q2, indicating a trend towards stabilization [3][5]. Asset Quality and Loan Growth - By the end of Q3, the non-performing loan balance for commercial banks was 3.5 trillion yuan, with a non-performing loan ratio of 1.52%, reflecting a slight increase from the previous quarter [9]. - The balance of inclusive small and micro enterprise loans reached 36.5 trillion yuan, growing by 12.1% year-on-year, while inclusive agricultural loans increased to 14.1 trillion yuan [11]. Liquidity Indicators - The liquidity coverage ratio for commercial banks was 149.73%, up by 0.48 percentage points from the previous quarter, indicating stable liquidity conditions [13]. - Other liquidity metrics, such as the net stable funding ratio and loan-to-deposit ratio, also showed slight improvements, reflecting a healthy liquidity position across the banking sector [13]. Market Position of Large Commercial Banks - The asset share of large commercial banks has risen to 43.88%, marking a new high in recent years, underscoring their dominant role in serving the real economy [10][11].