Core Viewpoint - Hangzhou Bank reported a solid performance in the first half of 2025, with a year-on-year increase in operating income and net profit, indicating resilience in its business fundamentals [1][2][8]. Financial Performance - The bank achieved operating income of 20.09 billion, up 3.9% year-on-year, and net profit attributable to shareholders of 11.66 billion, up 16.7% year-on-year [1][2]. - The annualized weighted average return on equity was 19%, a decrease of 0.48 percentage points year-on-year [1]. Revenue Composition - Net interest income grew by 9.4% year-on-year, with a 2.5 percentage point increase compared to Q1 [2]. - Non-interest income decreased by 5% year-on-year, but the decline was less severe than in Q1 [5]. Loan and Deposit Structure - The loan-to-asset ratio slightly increased to 45.2%, with total loans growing by 12% year-on-year [2][3]. - New loans in Q2 were primarily driven by corporate loans, while retail loans saw a slight decline [3]. Asset Quality - The non-performing loan (NPL) ratio remained stable at 0.76%, with a corporate loan NPL ratio of 0.65% [6]. - The bank's provision coverage ratio was 520.9%, maintaining a strong risk mitigation capacity [7]. Capital Adequacy - The bank's capital adequacy ratios improved significantly, with the core Tier 1 capital ratio reaching 9.74% [7]. - The conversion of convertible bonds has strengthened the bank's capital base, alleviating refinancing pressures [8]. Future Outlook - The bank's EPS forecasts for 2025-2027 are 2.72, 3.18, and 3.71 respectively, with current PB valuations of 0.91, 0.80, and 0.69 times [8].

截至2025年6月30日，重庆银行不良贷款余额为58.40亿元，较上年末上升3.77亿元；不良贷款率为 1.17%，较上年末下降0.08个百分点。其中，房地产不良贷款率为7.19%，创下2013年上市以来新高。 重庆银行于2024年换帅。2024年1月11日，林军因到龄退休原因辞去重庆银行董事长、执行董事及 董事会战略与创新委员会主任委员、提名委员会委员、薪酬与考核委员会委员职务。 2024年3月13日，经重庆金融监管局《关于重庆银行杨秀明任职资格的批复》（渝金管复[2024]23 号）核准，杨秀明自该日起担任重庆银行董事长、执行董事，并确认已于2024年3月13日取得香港上市 规则第3.09D条所述的法律意见，并明白其作为重庆银行董事的责任。 中国经济网北京8月28日讯 重庆银行(601963.SH，01963.HK)日前公布了2025年半年度报告。2025 年上半年，重庆银行实现营业收入76.59亿元，较上年同期增长7.00%；实现净利润33.94亿元，较上年 同期增长5.73%，实现归属于该行股东净利润31.90亿元，较上年同期增长5.39%；实现扣除非经常性损 益后归属于该行股东的净利润31.75亿元 ...

Core Viewpoint - Chengdu Bank reported a revenue of 12.27 billion and a net profit of 6.62 billion for the first half of 2025, showing year-on-year growth of 5.9% and 7.3% respectively, indicating a positive trend in financial performance despite a slight decline in return on average equity [7][8]. Financial Performance - Revenue, pre-provision profit, and net profit growth rates for Chengdu Bank in the first half of 2025 were 5.9%, 6.8%, and 7.3% respectively, with improvements compared to Q1 [8]. - The net interest income and non-interest income growth rates were 7.6% and -0.2%, showing a positive shift in net interest income while non-interest income faced a decline [8]. - The cost-to-income ratio and credit impairment losses as a percentage of revenue were 23.2% and 11.5%, both showing a slight decrease year-on-year, indicating stable cost management [8]. Asset and Loan Growth - As of the end of Q2 2025, Chengdu Bank's interest-earning assets and loans grew by 12.2% and 18% year-on-year, reflecting an acceleration in scale expansion [9]. - New corporate loans and retail loans for Q2 were 24.4 billion and 2.8 billion respectively, with corporate loans showing a strong growth trend [9]. Deposit Trends - By the end of Q2 2025, the growth rates for interest-bearing liabilities and deposits were 13.7% and 14.7%, indicating steady deposit growth [10]. - The new deposit amount for Q2 was 18.8 billion, which was lower than the previous year, and the ratio of deposits to interest-bearing liabilities decreased slightly [10]. Interest Margin - The net interest margin (NIM) for the first half of 2025 was 1.62%, a slight decrease from the previous year, but the decline in margin has narrowed compared to earlier periods [11]. - The yield on interest-earning assets and loans decreased, influenced by factors such as LPR adjustments and weakened demand [11]. Non-Interest Income - Non-interest income for Chengdu Bank was 2.5 billion, reflecting a year-on-year decline of 0.2%, primarily due to reduced fees from wealth management services [12]. - Other non-interest income increased by 9.7%, supported by active trading and bond investment strategies [12]. Asset Quality - As of the end of Q2 2025, the non-performing loan (NPL) ratio was 0.66%, remaining stable, while the attention ratio slightly increased [13]. - The provision coverage ratio was 452.7%, indicating strong risk mitigation capabilities despite a slight decline [13].

Core Viewpoint - Jiangsu Bank has demonstrated strong asset growth and improved asset quality in the first half of the year, but its revenue growth remains modest, indicating a "wide planting, thin harvest" situation [2][5][6]. Asset Growth - As of June 30, Jiangsu Bank's total assets reached 4.79 trillion yuan, a year-on-year increase of 21.16%, with a growth rate exceeding 26% [3]. - The bank's non-loan assets have significantly contributed to its asset expansion, with increases in derivative and financial investments, cash, and interbank assets of 23.1%, 37.8%, and 41.95% respectively [3]. - The bank's corporate loans grew by 23.30% year-on-year, with infrastructure loans up by 31% and manufacturing loans by 18.90% [4]. Revenue and Profitability - Jiangsu Bank reported operating income of 448.64 billion yuan, a year-on-year growth of 7.78%, and a net profit of 202.38 billion yuan, up 8.05% [6]. - Interest income increased significantly, with net interest income rising by 19.10% to 329.39 billion yuan, but the growth in loan interest income was only 0.55% [6][7]. - The bank's net interest margin decreased to 1.78%, down 12 basis points year-on-year, primarily due to a decline in asset yield [6][7]. Asset Quality - The non-performing loan (NPL) ratio fell to 0.84%, the lowest since the bank's listing, with a decrease in the proportion of special mention loans to 1.24% [8]. - The bank's NPL generation and write-off rates have decreased, with NPL net increase and write-off amounts at 116 billion yuan and 99 billion yuan respectively [8][9]. - The bank's provision coverage ratio stands at 331.02%, indicating strong risk mitigation capacity [8]. Capital Adequacy - Jiangsu Bank's capital adequacy ratios have declined, with total capital adequacy at 12.36%, down from 12.99% at the end of the previous year [9]. - To address capital pressure, the bank issued two perpetual bonds totaling 300 billion yuan in the first half of the year [10].

Core Viewpoint - Chengdu Bank reported a revenue of 12.27 billion and a net profit of 6.62 billion for the first half of 2025, showing year-on-year growth of 5.9% and 7.3% respectively, indicating a positive trend in revenue and profit growth despite a slight decline in return on average equity [1][2] Financial Performance - Revenue, pre-provision profit, and net profit growth rates for Chengdu Bank in the first half of 2025 were 5.9%, 6.8%, and 7.3% respectively, with improvements compared to the first quarter [2] - The net interest income and non-interest income growth rates were 7.6% and -0.2%, showing a mixed performance in income sources [2] - The cost-to-income ratio and credit impairment losses as a percentage of revenue were 23.2% and 11.5%, both showing a slight decrease year-on-year, indicating stable cost management [2] Asset and Loan Growth - As of the end of Q2 2025, Chengdu Bank's interest-earning assets and loans grew by 12.2% and 18% year-on-year, reflecting an acceleration in asset expansion [3] - The bank's new loans and financial investments for Q2 were 27.2 billion and 11.4 billion respectively, with significant increases compared to the previous year [3] - Corporate loans showed a strong growth rate of 19.1%, while retail loans grew at a slower pace of 12.9% [4] Deposit Trends - By the end of Q2 2025, Chengdu Bank's interest-bearing liabilities and deposits grew by 13.7% and 14.7% year-on-year, with a slight decrease in the growth rate of deposits compared to Q1 [5] - The trend towards term deposits continued, with term deposits accounting for 70% of total deposits by the end of Q2 [5] Interest Margin and Non-Interest Income - The net interest margin (NIM) for the first half of 2025 was 1.62%, showing a slight decrease from the previous year, but the decline in margin pressure has eased [6] - Non-interest income for the first half of 2025 was 2.5 billion, reflecting a year-on-year decrease of 0.2%, primarily due to reduced fee income [7][8] Asset Quality and Risk Management - Chengdu Bank maintained a low non-performing loan (NPL) ratio of 0.66% and a slight increase in the attention ratio to 0.44% by the end of Q2 2025 [8][9] - The bank's credit impairment losses for the first half of 2025 were 1.4 billion, indicating a stable risk management environment [9] Capital Adequacy - By the end of Q2 2025, Chengdu Bank's capital adequacy ratios were 8.61%, 9.24%, and 13.13%, showing a slight decline due to seasonal factors [9] - The rapid expansion of risk-weighted assets (RWA) at a growth rate of 15.8% indicates a strong capital base supporting future growth [9] Future Outlook - Chengdu Bank is expected to benefit from strategic opportunities in the Chengdu metropolitan area, with a strong asset quality and a high provision coverage ratio supporting its risk management capabilities [10]

Core Viewpoint - The company has approved its 2025 semi-annual report and profit distribution plan, highlighting its financial performance and commitment to shareholder returns [17][20][36]. Financial Performance - The company reported an unaudited net profit of RMB 241.70 billion for the first half of 2025, with a distributable profit of RMB 2,541.05 billion [36]. - The net profit attributable to ordinary shareholders after deducting preferred stock dividends and perpetual bond interest was RMB 228.41 billion [36]. Profit Distribution Plan - The board approved a cash dividend of RMB 2.36 per 10 shares, totaling RMB 45.80 billion, which represents 20.05% of the net profit attributable to ordinary shareholders [21][36]. - The distribution plan considers shareholder returns, regulatory capital requirements, and sustainable business development [37]. Corporate Governance - The board and supervisory committee confirmed the accuracy and completeness of the semi-annual report, ensuring compliance with legal and regulatory standards [30][32]. - The board meeting held on August 22, 2025, had full attendance, with all resolutions passed unanimously [19][22].

作者 | 郑理 来源 | 独角金融 地处西部地区首家资产规模超过万亿的城商行，成都银行（601838.SH）迎来重要人事变动。 成都银行8月17日公告显示，董事长王晖已提交辞职报告，原因为"组织工作调动另有任用"。成都银行 还在公告中对王晖近20年来的成绩进行了梳理和肯定，披露千字长文表达感谢。 新任董事长也在同日确定。根据该行公告，成都市委决定由成都农商行董事长黄建军担任成都银行委员 会委员、书记，并提名为董事长一职。 王晖任期内，实现了成都银行从一家区域城商行跨越到A股上市银行第一梯队。经营业绩方面，2024年 成都银行实现营业收入229.82亿元，同比增长5.89%，归母净利润128.58亿元，同比增长10.17%，继续 位列上市银行前列。 图源：罐头图库 然而成都银行2024年四季度的资本充足率为13.88%，低于商业银行平均水平15.74%。2025年一季度， 成都银行资本充足率继续下滑至13.45%。 新董事长黄建军1975年11月出生，四川大学政治经济学专业毕业，在职博士研究生学历，正高级经济师 职称。 截至8月18日收盘，成都银行股价18.03元/股，较前一交易日下跌1.04%，总市值763. ...

Core Insights - The banking sector in China has shown a steady growth in total assets, reaching 467.3 trillion yuan, with a year-on-year increase of 7.9% as of Q2 2025 [1] - Large commercial banks are leading the way in supporting the real economy, with a significant portion of loans directed towards small and micro enterprises [2] Group 1: Banking Sector Performance - As of Q2 2025, total assets of large commercial banks reached 204.2 trillion yuan, growing by 10.4% year-on-year [1] - The balance of inclusive small and micro enterprise loans stood at 36 trillion yuan, reflecting a year-on-year growth of 12.3% [1] - The balance of inclusive agricultural loans reached 13.9 trillion yuan, with an increase of 1.1 trillion yuan since the beginning of the year [1] Group 2: Loan Distribution by Bank Type - By Q2 2025, large commercial banks held approximately 16.2 trillion yuan in inclusive small and micro loans, while other bank types had lower balances [2] - The inclusive agricultural loan balances for different bank types were: 5.2 trillion yuan for large commercial banks, 0.4 trillion yuan for joint-stock commercial banks, 1.0 trillion yuan for urban commercial banks, and 7.2 trillion yuan for rural financial institutions [2] Group 3: Profitability and Interest Margin - In the first half of 2025, commercial banks achieved a cumulative net profit of 1.2 trillion yuan, with an average capital return rate of 8.19% [3] - The net interest margin for commercial banks was recorded at 1.42%, with a slight decrease of 0.01 percentage points from the previous quarter [3] - Net interest margins varied by bank type, with private banks showing the highest at 3.91% [3] Group 4: Asset Quality and Capital Adequacy - The overall quality of credit assets remained stable, with non-performing loans totaling 3.4 trillion yuan, a decrease of 24 billion yuan from the previous quarter [4] - The non-performing loan ratio was 1.49%, down by 0.02 percentage points from the previous quarter [4] - As of Q2 2025, the capital adequacy ratio for commercial banks was 15.58%, reflecting an increase of 0.30 percentage points from the previous quarter [4]

Core Insights - The banking industry in China has shown resilience and stability in the first half of the year, with total assets reaching 467.3 trillion yuan, a year-on-year increase of 7.9% [1] - Major commercial banks have played a significant role in supporting the real economy, with inclusive small and micro enterprise loans growing by 12.3% year-on-year [2] - The overall asset quality of commercial banks remains stable, with non-performing loan (NPL) ratios decreasing slightly [4] Group 1: Banking Industry Performance - As of mid-year, total assets of banking financial institutions reached 467.3 trillion yuan, with large commercial banks accounting for 204.2 trillion yuan, reflecting a growth of 10.4% [1] - The non-performing loan balance stood at 3.4 trillion yuan, with an NPL ratio of 1.49%, showing a slight decrease from the previous quarter [4] - Capital adequacy ratios improved, with the overall capital adequacy ratio at 15.58%, up 0.30 percentage points from the previous quarter [4] Group 2: Support for the Real Economy - Inclusive small and micro enterprise loans reached 36 trillion yuan, marking a 12.3% increase year-on-year, with large commercial banks holding over 16 trillion yuan of this total [2] - Agricultural loans also saw growth, with a balance of 13.9 trillion yuan, increasing by 1.1 trillion yuan since the beginning of the year [2] Group 3: Operational Efficiency and Profitability - The cost-to-income ratio for commercial banks improved to 30.2%, a decrease of 5.3 percentage points from the previous year [3] - Non-interest income as a percentage of total income rose to 25.75%, an increase of 3.33 percentage points since the end of last year [3] - The net interest margin remained stable at 1.42%, with a slight decrease of 0.01 percentage points from the first quarter [3] Group 4: Capital and Risk Management - The banking sector has been actively expanding its capital base, with over 1 trillion yuan raised through subordinated debt and perpetual bonds this year [5] - Major banks have issued total loss-absorbing capacity (TLAC) bonds to meet regulatory requirements, with issuance amounts of 800 billion yuan for Bank of China and Agricultural Bank of China, and 700 billion yuan for Bank of Communications [5]

Core Viewpoint - Xi'an Bank plans to hold its second extraordinary general meeting of shareholders for 2025 on August 14, where it will discuss several proposals, including the election of new board members and the issuance of financial bonds not exceeding 10 billion yuan [2][4]. Group 1: Financial Bond Issuance - The bank intends to issue financial bonds with a total amount not exceeding 10 billion yuan, which has attracted significant market attention [4]. - The bonds will have a maturity of no more than 5 years and will include various types such as ordinary financial bonds, special financial bonds for small and micro enterprises, green financial bonds, agricultural-related bonds, and technology innovation bonds [5]. - The funds raised from this bond issuance will be used to optimize the bank's long-term asset-liability matching structure and to support its long-term asset business, subject to applicable laws and regulatory approvals [5]. Group 2: Recent Bond Issuance Activities - In 2023, Xi'an Bank has been active in issuing bonds, having issued 2 billion yuan in April and another 2 billion yuan in June, both with a fixed interest rate of 2.35% and a term of "5+5 years" to enhance its Tier 2 capital [5]. - In late June, the bank redeemed a 2 billion yuan Tier 2 capital bond issued in 2020 and was approved to issue 7 billion yuan in perpetual bonds, successfully issuing 5 billion yuan in the first phase of 2025 with a fixed interest rate of 2.4% for the first 5 years [5].