来源：华夏时报 资本充足水平下滑，长安银行通过增资扩股来"解渴"。 近日，国家金融监管局发布批复，同意长安银行增资扩股，募集股份不超过26.11亿股，募集资金全部 用于补充核心一级资本。 今年年内，长安银行资本充足率下滑明显。相关报告显示，三季度该行核心一级资本充足率8.23%，较 上年末下滑0.92个百分点。虽符合监管标准，但低于行业平均水平。与此同时，2024年该行贷款增速提 高，资产质量有所下行。 12月9日，《华夏时报》记者就资本充足率下降及资产质量控制的相关问题采访了长安银行，截至发稿 暂未收到回复。 26.11亿股增资扩股获批 长安银行成立于2009年7月29日，是由宝鸡市商业银行、咸阳市商业银行和渭南城市信用社、汉中城市 信用社、榆林城市信用社等五家金融机构，引入陕西延长集团、陕西煤业集团、陕西有色集团等战略投 资者，以新设合并方式组建，是陕西省第一家省级法人股份制商业银行。 自成立以来，长安银行进行多次增资扩股，其注册资本金已从最初的30亿元增至75.77亿元，当前前三 大股东陕西延长集团持股19.04%，陕西煤业集团持股18.71%，陕西有色集团持股11.22%。 陕西金融监管局在相关批复中 ...

苏州银行股份有限公司投资者关系活动记录表 1 | | 3、如何展望全年拨备覆盖率水平？ | | --- | --- | | | 答：截至 年 月末，集团拨备覆盖率 2025 9 420.59%， | | | 持续保持较厚的风险抵补能力。本行将继续按照审慎性原 | | | 则，计提好充足的拨备，预计全年拨备覆盖率将保持相对 | | | 稳定水平。 | | 关于本次活动是否 | 接待过程中，公司接待人员与投资者进行了充分的交流与 | | 涉及应披露重大信 | 沟通，严格按照有关制度规定，没有出现未公开重大信息 | | 息的说明 | 泄露等情况。 | | 活动过程中所使用 | | | 的演示文稿、提供的 | | | 文档等附件（如有， | | | 可作为附件） | | 2 | 编号：2025-18 | | | --- | --- | | 特定对象调研 | □分析师会议 | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | □现场参观 | | | □其他（请文字说明其他活动内容） | | | 调研人员：中信建投马鲲鹏、李晨，富国基金徐健荣，长 | 信基金吴廷华，H ...

来源 ：证券之星 年末监管风暴再度席卷浙江稠州商业银行。近日，浙江证监局一纸责令改正通知书，直指其基金销售业 务四大违规行为，这已是该行年内第二次遭遇监管处罚。今年7月，稠州银行南京分行曾因转贴现、同 业业务违规领罚200万元。 证券之星注意到，合规问题之外，稠州银行业绩端也有不小压力，2025年前三季度，该行营收同比增长 12.25%至80.14亿元，净利润却仅微增1.09%至11.56亿元，第三季度单季净利润更是同比下滑17.2%。资 本充足率指标的隐忧则进一步放大了风险，尽管核心一级资本充足率8.92%暂时踩线达标，但资本补充 压力已迫在眉睫。 01． 涉四项问题遭监管处罚，合规漏洞持续暴露 12月1日，中国证券监督管理委员会浙江监管局网站发布《关于对浙江稠州商业银行股份有限公司采取 责令改正措施的决定》。 浙江证监局发现，浙江稠州商业银行存在部分从事基金销售业务人员未取得从业资格、部分基金宣传推 介材料、基金销售业务制度修订未经合规风控人员审查、为个别未进行风险测评的客户办理基金销售业 务以及未按规定报送反洗钱相关材料等四个方面问题。 具体来看，其一，部分基金销售人员无证上岗，直接触碰了金融销售的资质 ...

Core Insights - The banking industry is experiencing a phase of stabilization in net interest margins (NIM), with the NIM at 1.42% as of Q3 2025, marking the end of a continuous decline [1][2] - There is a slight increase in non-performing loans (NPLs) and NPL ratios, indicating ongoing risks in certain sectors of the economy [4][5] - The balance between supporting the real economy and maintaining prudent operations is a central concern for the banking sector [1] Group 1: Net Interest Margin Stabilization - As of Q3 2025, the commercial banks' NIM is 1.42%, showing a stabilization compared to previous quarters, despite a year-on-year decline of 11 basis points [2] - Different types of banks show varied trends: joint-stock commercial banks saw a slight increase in NIM to 1.56%, while private banks experienced a decrease to 3.83% [2] - The stabilization is attributed to effective cost control on the liability side and regulatory measures to optimize pricing capabilities [2][3] Group 2: Non-Performing Loans - The NPL balance reached 3.5 trillion yuan, an increase of 883 billion yuan from the previous quarter, with the NPL ratio rising to 1.52% [4][5] - NPL ratios for different bank types are as follows: state-owned banks at 1.22%, city commercial banks at 1.84%, rural commercial banks at 2.82%, and private banks at 1.83% [4] - The increase in NPLs is primarily concentrated in retail loans and the real estate sector, reflecting ongoing economic challenges [5][6] Group 3: Loan Rates and Economic Impact - Loan rates are nearing a "glass bottom," with the average interest rate for new corporate loans at 3.1%, down approximately 40 basis points year-on-year [7][8] - The decline in loan rates is driven by a combination of falling deposit costs and rising credit risks in personal loans [8][9] - Recommendations for policy adjustments include asymmetric reductions in deposit rates and measures to alleviate debt pressures on households [9]

Core Insights - The banking sector in China reported a slight decline in net profit for the first three quarters of 2025, with a total of 1.87 trillion yuan, representing a year-on-year decrease of 0.02%, although the decline has narrowed compared to the first half of the year [1][6] Profitability - State-owned banks, city commercial banks, and private banks saw an increase in net profit, with private banks leading at a growth rate of 7.09% [1][3] - The net profit for state-owned banks was 1.00 trillion yuan, while city commercial banks and private banks reported 252.3 billion yuan and 15.1 billion yuan, respectively [3] - In contrast, joint-stock banks, rural commercial banks, and foreign banks experienced declines in net profit, with decreases of 2.1%, 7.36%, and 19.34%, respectively [1][3] Net Interest Margin - The net interest margin (NIM) for commercial banks remained stable at 1.42% in Q3, with private banks having the highest NIM at 3.83% [1][8] - State-owned banks had the lowest NIM at 1.31%, while joint-stock banks saw a slight increase of 0.01 percentage points to 1.56% [8][9] - Year-on-year, all types of banks experienced a decline in NIM, with state-owned and rural commercial banks both down by 0.14 percentage points [9][10] Asset Quality - As of the end of Q3 2025, the non-performing loan (NPL) balance for commercial banks was 3.5 trillion yuan, with an NPL ratio of 1.52%, reflecting a slight increase of 0.03 percentage points from the previous quarter [13][14] - Foreign banks had the lowest NPL ratio at 1.06%, while rural commercial banks had the highest at 2.82% [14] - Only state-owned banks saw a decrease in NPL ratios compared to the end of the previous year, while other types of banks experienced varying degrees of increase [14] Provision Coverage - The loan loss provision balance for commercial banks was 7.3 trillion yuan, with a provision coverage ratio of 207.15%, both showing a decrease from the previous quarter [16]

以下文章来源于一丰看金融 ，作者光大证券银行组 一丰看金融 . 分享经济金融领域大事小情，路边新闻 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 事件： 商业银行1-3Q净息差为1.42%，较25H1持平，较去年同期下降11bp。分银行类型看，国有行、股份行、城 商行、农商行息差分别为1.31%、1.56%、1.37%、1.58%，股份行净息差较25H1略升1bp，其他类型银行 息差较25H1持平。 四、资产质量总体稳健，不良率较2Q末略升3bp，拨备覆盖率保持200%以上 不良率较上季末提升3bp至1.52%。25Q3末，商业银行不良贷款余额3.52万亿，较2Q末增加883亿；商业银 行不良贷款率为1.52%，较2Q末提升3bp；关注贷款率为2.2%，较2Q末提升3bp ...

Industry Investment Rating - The industry investment rating is maintained at "Outperform" [2] Core Viewpoints - The overall operating income, pre-provision profit, and net profit growth rates for listed banks in the first three quarters of 2025 are 0.91%, 0.56%, and 1.48% respectively, indicating a recovery in performance driven by scale and an ongoing improvement in fee income [4][12] - The growth rate of interest-earning assets for listed banks is 9.40% year-on-year, with loans and debt investments increasing by 7.83% and 13.94% respectively [4][5] - The net interest margin for listed banks is stable at 1.35%, with a slight decline in state-owned banks, while other types of banks have stabilized [5] - Non-interest income has increased by 5.02% year-on-year, although it has seen a quarter-on-quarter decline due to adjustments in the bond market [5] - The asset quality is improving, with the non-performing loan ratio at 1.23%, showing a slight decrease from the previous half-year [5] Summary by Sections 1. Performance Recovery Driven by Scale and Fee Improvement - In the first three quarters of 2025, listed banks showed a growth in operating income, pre-provision profit, and net profit, with respective growth rates of 0.91%, 0.56%, and 1.48% [12] - City commercial banks outperformed other types of banks, while state-owned banks also showed positive growth [12] 2. Growth of Interest-Earning Assets and Slower Expansion of Liabilities - The year-on-year growth rate of interest-earning assets for listed banks is 9.40%, with loans and debt investments increasing by 7.83% and 13.94% respectively [4][5] 3. Stabilization of Net Interest Margin - The net interest margin for listed banks is stable at 1.35%, with a slight decline in state-owned banks [5] 4. Non-Interest Income Performance Affected by Bond Market Adjustments - Non-interest income increased by 5.02% year-on-year, but saw a quarter-on-quarter decline due to bond market adjustments [5] 5. Improvement in Asset Quality and Declining Credit Costs - The non-performing loan ratio for listed banks is 1.23%, showing a slight decrease from the previous half-year, with a significant decline in credit costs [5][12] 6. Investment Recommendations - Focus on banks with significant deposit maturities and potential for interest margin improvement, such as Chongqing Bank, China Merchants Bank, and Bank of Communications [6] - Attention to city commercial banks that will benefit from improvements in fixed asset investment, such as Jiangsu Bank, Qilu Bank, and Qingdao Bank [6]

Core Viewpoint - The performance of A-share listed joint-stock banks in the third quarter of 2025 shows a mixed picture, with seven banks experiencing a year-on-year decline in operating income and five banks reporting a drop in net profit. Only Shanghai Pudong Development Bank achieved growth in both metrics [1][2][3]. Group 1: Revenue Performance - Among the nine listed joint-stock banks, only Shanghai Pudong Development Bank and Minsheng Bank reported year-on-year revenue growth, with Minsheng Bank achieving the highest growth rate of 6.74% [2]. - China Merchants Bank led in revenue scale with 2,514.20 billion yuan, followed by Industrial Bank and CITIC Bank with 1,612.34 billion yuan and 1,565.98 billion yuan, respectively [2][3]. - Ping An Bank experienced the most significant revenue decline at -9.78%, while several other banks, including Everbright Bank and Huaxia Bank, also saw declines exceeding 6% [2][3]. Group 2: Net Profit Analysis - China Merchants Bank maintained the highest net profit at 1,137.72 billion yuan, with a slight increase of 0.52% year-on-year. Shanghai Pudong Development Bank saw a notable increase of 10.21% in net profit [3]. - The banks that reported a decline in net profit include Zhejiang Commercial Bank, which had the largest drop at -9.59%, along with Minsheng Bank, Ping An Bank, and others experiencing varying degrees of decline [3]. Group 3: Interest Income and Net Interest Margin - Interest income growth varied significantly, with China Merchants Bank leading at 1,600.42 billion yuan and a 1.74% increase. Shanghai Pudong Development Bank had the highest growth rate in interest income at 3.93% [5]. - The net interest margin faced pressure across the industry, with CITIC Bank experiencing the largest decline of 16 basis points. Only Minsheng Bank reported a slight increase of 2 basis points [5][6]. Group 4: Asset Quality and Provision Coverage - The asset quality of joint-stock banks showed resilience, with a mixed performance in non-performing loan (NPL) ratios. China Merchants Bank had the best NPL ratio at 0.94%, while several banks saw slight increases in their NPL ratios [8]. - Provision coverage ratios decreased for most banks, with China Merchants Bank still leading at 405.93%, despite a decline of 6.05 percentage points [9][10]. Group 5: Loan Structure - The loan structure indicates a shift towards corporate loans, with all five banks reporting growth in corporate loans, while personal loan growth was weak for several banks [11][12]. - China Merchants Bank led in personal loan balance with nearly 3.7 trillion yuan, while corporate loan growth was particularly strong for CITIC Bank, which saw a 10.45% increase [11][12].

Core Insights - The overall performance of the nine listed joint-stock banks in China showed a decline in both revenue and net profit for the first three quarters of the year, with total operating income at 1.12 trillion yuan, down 2.56% year-on-year, and net profit at 406.1 billion yuan, down nearly 1% [1][3] Group 1: Performance Overview - Among the nine banks, four experienced declines in both revenue and net profit, while some banks managed to achieve growth in both metrics [1][4] - The top joint-stock banks by asset size are China Merchants Bank (12.64 trillion yuan), Industrial Bank (10.67 trillion yuan), and CITIC Bank, with Shanghai Pudong Development Bank showing the fastest growth rate at 4.55% [1][2] Group 2: Revenue and Profit Analysis - Only Minsheng Bank and Shanghai Pudong Development Bank reported year-on-year revenue growth, with increases of 6.74% and 1.88%, respectively; the remaining seven banks saw revenue declines, with Ping An Bank experiencing the largest drop at 9.8% [3][4] - In terms of net profit, only four banks, including Shanghai Pudong Development Bank, reported growth, with the latter achieving a 10.21% increase, making it the leader in profit growth among joint-stock banks [4] Group 3: Net Interest Income and Margin - Net interest income, a key indicator of banks' operating income, showed mixed results, with only three banks reporting growth; China Merchants Bank led with 160.04 billion yuan, up 1.74% [5][6] - The net interest margin (NIM) faced pressure, with most banks experiencing declines; China Merchants Bank maintained the highest NIM at 1.87%, while CITIC Bank saw the largest drop of 16 basis points [7] Group 4: Asset Quality and Risk Management - The non-performing loan (NPL) ratio improved for most banks, with China Merchants Bank having the lowest NPL ratio at 0.94% [9][10] - However, the provision coverage ratio decreased for seven banks, with Ping An Bank showing the largest decline of 21.11 percentage points; Shanghai Pudong Development Bank's coverage ratio increased by 11.08 percentage points, indicating enhanced risk mitigation [10][11]

Core Viewpoint - The overall performance of the nine listed joint-stock banks in China showed a decline in both revenue and net profit for the first three quarters, indicating a challenging environment for the banking sector [2][5]. Group 1: Overall Performance - The nine joint-stock banks collectively achieved an operating income of 1.12 trillion yuan, a year-on-year decrease of 2.56%, and a net profit of 406.1 billion yuan, down nearly 1% year-on-year [2][5]. - There is a notable divergence in performance among the banks, with four banks experiencing declines in both revenue and profit, while others managed to achieve growth [2][5]. Group 2: Individual Bank Performance - As of the end of Q3, China Merchants Bank led with total assets of 12.64 trillion yuan, followed by Industrial Bank at 10.67 trillion yuan, with Shanghai Pudong Development Bank showing the fastest growth rate of 4.55% [3][4]. - Only Minsheng Bank and Shanghai Pudong Development Bank reported year-on-year revenue growth of 6.74% and 1.88%, respectively, while the remaining seven banks saw declines, with Ping An Bank experiencing the largest drop at 9.8% [7][8]. Group 3: Net Interest Income - Among the nine banks, only three reported an increase in net interest income, with China Merchants Bank leading at 160.04 billion yuan, a growth of 1.74% [11][12]. - The net interest margin pressure remains a common challenge, with most banks experiencing a decline in this metric, except for Minsheng Bank, which saw a slight increase [13][14]. Group 4: Asset Quality - Most banks reported a decrease in non-performing loan (NPL) ratios, with China Merchants Bank having the lowest at 0.94%, while the others ranged between 1% and 1.5% [15][16]. - The provision coverage ratio decreased for most banks, with Ping An Bank showing the largest decline of 21.11 percentage points [17]. Group 5: Future Outlook - The banks face challenges in narrowing net interest margins in a low-interest-rate environment, and the potential impact of "deposit migration" due to stock market recovery will test their adaptability [17].