中国经济网北京5月19日讯 日前，17家A股上市城商行的2025年一季度报告已披露完毕。从不良贷款率 表现来看，截至2025年3月末，兰州银行的不良贷款率为1.81%，居A股上市城商行之首。值得关注的 是，该行在2024年末的不良贷款率为1.83%，同样为A股上市城商行最高。 | 银行名称 | 2025年3月末不良贷款率 | 2024年末不良贷款率 | 不良贷款率变动 | | --- | --- | --- | --- | | 兰州银行 | 1.81% | 1.83% | 下降0.02个百分点 | | 郑州银行 | 1.79% | | 持平 | | 贵阳银行 | 1.66% | 1.58% | 上升0.08个百分点 | | 西安银行 | 1.61% | 1.72% | 下降0.11个百分点 | | 北京银行 | 1.30% | 1.31% | 下降0.01个百分点 | | 重庆银行 | 1.21% | 1.25% | 下降0.04个百分点 | | 上海银行 | 1.18% | | 持平 | | 长沙银行 | 1.18% | 1.17% | 上升0.01个百分点 | | 齐鲁银行 | 1.17% | 1.19% ...

Core Insights - The banking sector in China shows growth in total assets and financial services, with total assets reaching 458.3 trillion yuan, a year-on-year increase of 6.7% [1] - The balance of inclusive loans to small and micro enterprises reached 35.3 trillion yuan, growing by 12.5% year-on-year, while inclusive agricultural loans increased to 13.7 trillion yuan, up by 795.5 billion yuan since the beginning of the year [1] - The overall asset quality of commercial banks remains stable, but there is an increase in non-performing loans (NPLs) and NPL ratios, with NPLs rising to 3.4 trillion yuan, an increase of 157.4 billion yuan from the previous quarter, and an NPL ratio of 1.51%, up by 0.01 percentage points [1] Regulatory Indicators - The banking capital adequacy ratio and insurance solvency ratio are stable and improving, with the NPL ratio decreasing by approximately 0.1 percentage points year-on-year and the provision coverage ratio increasing by about 10 percentage points [2] - In the first quarter, commercial banks achieved a net profit of 656.8 billion yuan, with both average capital return on equity and average asset return on equity rising, although the net interest margin has narrowed [2] Profit Growth Strategies - To alleviate profit growth pressure, banks should optimize their business structure, enhance investment banking and wealth management, and improve non-interest income ratios [3] - Banks are advised to implement refined pricing management and strengthen risk control to lower credit costs, with the current provision coverage ratio at 208.13% providing a buffer against margin pressure [3] Capital Adequacy - As of the end of the first quarter of 2025, the capital adequacy ratio for commercial banks (excluding foreign bank branches) was 15.28%, with a tier one capital adequacy ratio of 12.18% and a core tier one capital adequacy ratio of 10.70%, all within reasonable ranges but showing a slight decline from the previous quarter [3] - The decline in capital adequacy ratios is attributed to rapid asset expansion, an increase in NPLs, and slowing profit growth, indicating a growing balance pressure between credit expansion and risk resistance [3] Capital Supplementation - Banks are encouraged to actively respond to the pressure of declining capital adequacy ratios by solidifying their capital base, utilizing various channels for capital replenishment, including issuing ordinary shares, preferred shares, and convertible bonds [4] - The Ministry of Finance has announced the issuance of 500 billion yuan in special government bonds to support major banks in replenishing core tier one capital [4] - Banks should enhance internal capital accumulation by improving profitability and optimizing asset structures to focus on high-quality asset investments while reducing high-risk, low-efficiency assets [4][5]

中国经济网北京5月13日讯 中国银行业协会发布的"2024年中国银行业前100名单"中，有17家农村商业 银行入选。中国经济网选取前10名农村商业银行，从不良贷款率表现来看，截至2024年末，东莞农商银 行的不良贷款率为1.84%，居前十大农村商业银行之首。值得关注的是，该行2024年末不良贷款率较 2023年末上升0.61个百分点，在前十大农村商业银行中增幅最大。 截至2024年末，北京农商银行的不良贷款率在前十大农村商业银行中最低，为0.96%，较2023年末下降 0.13个百分点。 | 银行名称 | 2024年末不良贷款率 | 2023年末不良贷款率 | 不良贷款率变动 | | --- | --- | --- | --- | | 东莞农商银行 | 1.84% | 1.23% | 上升0.61个百分点 | | 广州农商银行 | 1.66% | 1.87% | 下降0.21个百分点 | | 顺德农商银行 | 1.61% | 1.48% | 上升0.13个百分点 | | 天津农商银行 | 1.50% | 1.66% | 下降0.16个百分点 | | 江南农商银行 | 1.32% | 1.02% | 上升0.3 ...

Core Viewpoint - The performance reports of major rural commercial banks in China for 2024 show a mixed picture, with asset growth among the leading banks but declining revenues and profits for some, particularly Guangzhou Rural Commercial Bank [1][7][10]. Asset Scale and Growth - By the end of 2024, the total assets of the four major rural commercial banks (Chongqing, Shanghai, Guangzhou, and Beijing) ranged from 1.26 trillion to 1.51 trillion yuan [1][2]. - Chongqing Rural Commercial Bank has the largest asset scale, exceeding 1.5 trillion yuan, with a growth rate of 5.13% [3][4]. - Shanghai Rural Commercial Bank's assets grew by 6.87%, while Beijing Rural Commercial Bank had the lowest growth rate at 2.11% [3][4]. Revenue and Profit Performance - Chongqing Rural Commercial Bank reported a revenue of 282.62 billion yuan, with a slight increase of 1.09%, and a net profit of 115.13 billion yuan, up 5.60% [7]. - In contrast, Guangzhou Rural Commercial Bank experienced a decline in both revenue and net profit, with revenues down 12.79% to 158.32 billion yuan and net profit down 21.02% to 20.81 billion yuan [10][12]. - Beijing Rural Commercial Bank saw an 18.09% increase in revenue to 180.63 billion yuan, but its net profit growth was only 0.71% [7][10]. Asset Quality - Shanghai and Beijing Rural Commercial Banks maintained non-performing loan (NPL) ratios below 1%, while Guangzhou Rural Commercial Bank had the highest NPL ratio at 1.66% [12][14]. - The provision coverage ratio for Guangzhou Rural Commercial Bank was notably low at 184.34%, compared to over 300% for the other banks [12][14]. Loan Composition - Chongqing Rural Commercial Bank's total customer loans and advances reached 714.27 billion yuan, with a growth of 5.55% [3][4]. - The bank's corporate loans grew by 9.26%, while retail loans saw a modest increase of 0.55% [4]. - In contrast, Guangzhou Rural Commercial Bank's personal mortgage loans decreased by 3.05% to 886.98 billion yuan [4]. Strategic Focus - Shanghai Rural Commercial Bank is prioritizing retail finance as a strategic focus, aiming to enhance wealth management and personal credit services [5]. - Guangzhou Rural Commercial Bank has set a goal to improve its operational efficiency and profitability over the next two years [10].

Core Insights - The report highlights the performance of 30 A-share and H-share listed city commercial banks in terms of non-performing loan (NPL) ratios for the year 2024, with Harbin Bank having the highest NPL ratio at 2.84% [1][2] - Chengdu Bank recorded the lowest NPL ratio at 0.66%, showing a slight decrease from the previous year [1][2] - Overall, 20 city commercial banks saw a decrease in their NPL ratios, while 5 banks experienced an increase, and 5 banks maintained the same ratio compared to the previous year [1] NPL Ratio Summary - Harbin Bank: NPL ratio of 2.84%, down from 2.87% in 2023 [2] - Chengdu Bank: NPL ratio of 0.66%, down by 0.02 percentage points from 0.68% in 2023 [2] - Other banks with NPL ratios below 1% include Xiamen Bank, Ningbo Bank, Hangzhou Bank, Nanjing Bank, Suzhou Bank, Jiangsu Bank, and Huishang Bank [1][2] - Notable increases in NPL ratios were observed in Jiujiang Bank (up 0.10 percentage points) and West Xi'an Bank (up 0.37 percentage points) [2] - The majority of banks, 20 out of 30, reported a decrease in NPL ratios, indicating an overall improvement in asset quality within the sector [1]

Core Viewpoint - Guiyang Bank reported a decline in both operating income and net profit for the year 2024, indicating challenges in its financial performance compared to previous years [2][3]. Financial Performance - In 2024, Guiyang Bank achieved operating income of 14.93 billion yuan, a decrease of 1.09% year-on-year from 15.10 billion yuan in 2023 [3]. - The net profit attributable to shareholders was 5.16 billion yuan, down 7.16% from 5.56 billion yuan in the previous year [3]. - The bank's operating profit fell to 5.42 billion yuan, reflecting an 8.98% decline compared to 5.96 billion yuan in 2023 [3]. - Total profit for the year was 5.43 billion yuan, a decrease of 9.27% from 5.99 billion yuan in 2023 [3]. - For Q1 2025, the bank reported operating income of 3.03 billion yuan, a significant drop of 16.91% year-on-year, and a net profit of 1.44 billion yuan, down 6.82% [2][3]. Asset and Loan Growth - As of the end of 2024, Guiyang Bank's total assets reached 705.67 billion yuan, an increase of 17.60 billion yuan or 2.56% from the beginning of the year [4]. - The total loan amount was 339.14 billion yuan, up 15.10 billion yuan or 4.66% year-on-year [4]. - Total deposits increased to 419.21 billion yuan, reflecting a growth of 18.99 billion yuan or 4.74% from the start of the year [4]. - The non-performing loan ratio stood at 1.58%, a slight decrease of 0.01 percentage points from the beginning of the year [4]. Investment and Risk Management - Financial investments amounted to 287.71 billion yuan, an increase of 18.21 billion yuan or 6.76% year-on-year [4]. - The bank's debt investment decreased by 7.84 billion yuan to 131.80 billion yuan, a decline of 5.62% compared to the previous year, primarily due to a reduction in non-standard asset scale [4]. - Provisions for debt investment impairment increased by 1.72 billion yuan, indicating a deterioration in the risk quality of existing non-performing assets [4]. Customer Complaints - In 2024, Guiyang Bank received a total of 3,882 customer complaints, a reduction of 915 complaints or 19.07% compared to 2023 [5]. - Complaints related to card services accounted for 2,380 cases, representing 61.28% of total complaints, with a year-on-year decrease of 21.4% [5]. - Complaints regarding intermediary services and loan services also saw significant reductions, with decreases of 35.59% and 14.25% respectively [5].

Investment Rating - The report rates the banking industry as "Outperforming the Market" [7]. Core Insights - In Q1 2025, the total operating revenue of 42 listed banks was 1.45 trillion yuan, a year-on-year decrease of 1.72%. The net profit attributable to shareholders was 563.98 billion yuan, down 1.20% year-on-year [2][15]. - Investment income saw rapid growth, accounting for a significant portion of revenue. In Q1 2025, interest income, commission income, and investment income were 1.02 trillion yuan (down 1.65% YoY), 230 billion yuan (down 0.72% YoY), and 170 billion yuan (up 26.10% YoY), respectively [2][15]. - The reduction in provision for asset impairment losses helped to release profits, with total asset impairment losses at 347.13 billion yuan, down 2.37% YoY [2][15]. Summary by Sections Revenue and Profitability - The operating revenue of listed banks decreased by 1.72% YoY, while net profit fell by 1.20% YoY, indicating a slight decline in overall profitability [2][15]. - Investment income increased significantly, contributing 11.62% to total revenue, up 2.56 percentage points from the previous year [2][15]. Loan and Deposit Growth - As of the end of Q1 2025, the total loan and advance amount reached 174.13 trillion yuan, growing by 7.92% YoY, with a slight deceleration in growth rate [3]. - The deposit scale also showed improvement, with a total of 212.38 trillion yuan, reflecting a 6.21% YoY increase [4]. Interest Margin and Asset Quality - The average net interest margin for listed banks was 1.55%, with a year-on-year decline of 0.09 percentage points, although the rate of decline has narrowed [5]. - The average non-performing loan ratio remained stable at 1.16%, while the provision coverage ratio decreased by 7.87 percentage points [5]. Capital Adequacy - As of the end of Q1 2025, the average core tier 1 capital adequacy ratio was 10.35%, showing a slight decline from the previous year [5]. Investment Recommendations - The report suggests that the core factors supporting the stable performance of the banking sector in 2024 and Q1 2025 include increased investment income and reduced provision for losses, indicating resilience in sector profits. Recommended stocks include Chongqing Bank, Yunnan Rural Commercial Bank, Shanghai Bank, and Shanghai Rural Commercial Bank [6].

Core Viewpoint - Guangxi Beibu Gulf Bank has reported a resilient performance in its 2024 annual report, overcoming economic challenges and maintaining double-digit growth in key operational metrics [1] Financial Performance - As of the reporting period, the total assets of the bank reached 520.37 billion yuan, an increase of 49.24 billion yuan, or 10.45% year-on-year [1] - The loan balance stood at 296.52 billion yuan, reflecting a year-on-year increase of 12.84% [1] - Total deposits amounted to 384.23 billion yuan, up 11.40% year-on-year [1] - The bank achieved total operating revenue of 22.11 billion yuan, a year-on-year increase of 2.81% [1] - Net profit reached 3.11 billion yuan, marking a 7.02% increase year-on-year [1] Interest and Non-Interest Income - The net interest income for 2024 was 6.88 billion yuan, showing a slight decrease of 0.01% year-on-year [2] - The net interest margin was 1.67%, down 0.17 percentage points year-on-year [1] - Non-interest income grew significantly, with a year-on-year increase of 4.04 billion yuan, or 13.63% [2] - Investment income rose from 2.40 billion yuan in 2023 to 3.06 billion yuan in 2024, a growth of 27.80% [2] Asset Quality and Risk Management - The non-performing loan (NPL) ratio was stable at 1.43% for 2024, unchanged from 2023 [4] - The bank has been actively managing credit risk through various measures, including debt collection and asset disposal [5] - As of mid-2024, the bank's securities investment assets totaled 172.68 billion yuan, accounting for 34.11% of total assets [3] Management and IPO Progress - The bank has seen leadership changes, with new appointments in key positions aimed at driving the bank's IPO efforts [5] - The bank announced plans for an initial public offering (IPO) in 2023, with ongoing preparations despite not yet completing the listing guidance [5]

公司报告 | 季报点评 建设银行（601939） 证券研究报告 资负规模积极扩张，质量稳健 事件： 建设银行发布 2025 年一季度财报。公司实现营收约 1901 亿元， YoY-5.40%；归母净利润 834 亿元，YoY-3.99%；不良率 1.33%，拨 备覆盖率 237%。 点评： 2025 年一季度，建设银行营收 1901 亿元（YoY-5.40%），其中净利息 收入 1419 亿元（YoY-5.21%），占营收比重 74.7%；非息收入 481 亿 元，同比下降 5.96%。拨备前利润、归母净利润分别同比-5.81%、-3.99%。 非息收入方面。2025 年一季度，公司手续费及佣金收入 375 亿元，同比 -4.63%，较 2024 年末改善 4.72pct。另外，投资净收益依旧亮眼，一季 度营收 43 亿元，同比增长 145.83%。 2025 年一季度，建设银行净息差录得 1.41%，环比下行 10bp，同比 -16bp。结合 2024 年底公司生息资产收益率和计息负债成本率来看，因 2024 年 LPR 多次调整，新年存量贷款重定价可能是公司 2025 第一季度 净息差下行的主要原因。另外 ...

资产端： 2025 年一季度建设银行生息资产总计 41.93 万亿元，同比增长 7.8%。其中，信贷投放和金融投资依旧是企业规模增长的主要动能，2025 一季度分别同比增长 8.0%、14.4%，环比增长 4.5%、5.8%；另外同业 资产环比高增 17.4%。生息资产结构上，贷款、金融投资、同业及拆放、 存放央行分别较 2024 年末变动-0.58、+0.08、+0.41、+0.09pct。 公司报告 | 季报点评 建设银行（601939） 证券研究报告 资负规模积极扩张，质量稳健 事件： 建设银行发布 2025 年一季度财报。公司实现营收约 1901 亿元， YoY-5.40%；归母净利润 834 亿元，YoY-3.99%；不良率 1.33%，拨 备覆盖率 237%。 点评： 2025 年一季度，建设银行营收 1901 亿元（YoY-5.40%），其中净利息 收入 1419 亿元（YoY-5.21%），占营收比重 74.7%；非息收入 481 亿 元，同比下降 5.96%。拨备前利润、归母净利润分别同比-5.81%、-3.99%。 非息收入方面。2025 年一季度，公司手续费及佣金收入 375 亿元，同比 ...