近期，多家银行陆续宣布下调人民币存款利率，调整范围覆盖活期存款、通知存款及各期限个人定期储 蓄存款，最高降幅达20个基点。 中国邮政储蓄银行研究员娄飞鹏在接受《证券日报》记者采访时表示，本轮中小银行下调存款利率，既 是对前期大型银行利率调降的跟进，也是中小银行应对自身净息差偏低的具体举措。未来存款利率下调 趋势或将持续，在此背景下，中小银行需摆脱对高息存款的依赖，打造差异化产品与服务体系，以此提 升自身核心竞争力。 多家银行调降存款利率 近日，江苏银行北京地区某支行的理财经理向记者表示："自8月20日起，我行3年期个人定期存款（整 存整取）利率将下调10个基点，从当前的1.85%调整至1.75%，该产品起存金额为1万元。此次利率调整 仅涉及3年期品种，1年期、2年期个人定期存款利率暂未变动，仍分别维持1.5%、1.6%。" 除江苏银行外，近期还有多家银行密集发布存款利率调整公告，其中以村镇银行为代表的中小银行成为 调整主力，涉及活期、定期等多品类存款。 高政扬表示，从整体态势来看，存款利率的下行趋势预计短期内将持续。当前银行业整体净息差仍处于 历史低位，为进一步缓解利差挤压压力、优化整体盈利结构，存款利率未来 ...

2025 年 08 月 24 日 平安银行(000001.SZ) 公司动态分析 风险缓释，但仍需新的增长点 ——平安银行 2025 年中报点评 事件：平安银行公布 2025 年中报，营收同比增长-10.0%，拨备 前利润同比增长-10.4%,归母净利润同比增长-3.9%，各项业绩指 标较 2025 年一季报增速均略有改善、降幅收窄，我们点评如下： 平安银行今年上半年业绩增长主要驱动因素包括拨备计提力度 减轻、非息收入增长，而规模同比负增长、净息差收窄对净利润 增长形成拖累。 生息资产扩张较为缓慢。今年二季度，平安银行生息资产（日 均余额口径）同比下降 1.61%，其生息资产规模自 2023 年年初至 今始终维持在 5 万亿元附近窄幅震荡，资产负债表扩张乏力对业 绩增长持续形成拖累，其中贷款、金融投资增速均与全部生息资 产扩张节奏大致相当，维持较低水平。部分银行在信贷需求不足 的情况下，会通过加大对债券的配置力度进而维持资产端稳健扩 张，这是在负债增长不错、而合意资产不足时做出的选择，但从 平安银行近三年的资产负债表的结构与增长趋势来看，负债端与 资产端均面临增长放缓的压力，既受银行业大环境的影响，也有 其主动 ...

文 | WEMONEY研究室，作者 | 王彦强 近日，第二家上市农商行——江阴银行（002807.SZ）披露了上半年业绩报告。 据中报显示，2025年上半年，江阴银行实现营业收入24.01亿元，同比增长10.45%；实现归母净利润8.46亿元，同比增长16.63%。 从资产质量来看，2025年上半年，江阴银行的不良贷款率为0.86%，与上年末持平；而拨备覆盖率为381.22%，较上年末增加11.9个百分点。 整体来看，江阴银行业绩实现双增，但净息差依然承压，2024年上半年，该行的净息差为1.54%，同比下降0.22个百分点。 而值得注意的是，江阴银行上半年的投资净收益为8.82亿元，同比大增81.44%，占营收的36.72%。同期，该行经营活动产生的现金流净额为-58.50亿元，同 比下降621.51%。 WEMONEY研究室注意到，近年来，江阴银行的利息净收入占营收的比重在不断下降，而投资净收益占营收的比重却在持续攀升。 数据显示，2022年—2024年，江阴银行的利息净收入分别为31.93亿元、29.82亿元、28.03亿元，占营收的比重分别为84.49%、77.15%、70.75%。投资净收益 分别为 ...

本报记者 彭妍 近期，多家银行陆续宣布下调人民币存款利率，调整范围覆盖活期存款、通知存款及各期限个人定期储 蓄存款，最高降幅达20个基点。 同日，吉林龙潭华益村镇银行宣布，自8月20日起调整存款挂牌利率，覆盖活期存款、通知存款及定期 储蓄存款。具体来看，活期存款年化利率从0.2%降至0.15%，下降5个基点；个人定期储蓄存款（整存 整取）中，3个月期、6个月期、1年期、2年期年化利率均下调10个基点，调降后分别为1.15%、 1.35%、1.6%、1.65%；3年期、5年期年化利率下调幅度更大，均降20个基点，分别至1.75%、1.7%。 此外，白山浑江恒泰村镇银行也同步开展利率调整。个人定期储蓄存款（整存整取）中，3年期、5年期 年化利率均下调20个基点，分别降至1.75%、1.7%；其余期限年化利率则统一下调10个基点。同时，吉 林昌邑榆银村镇银行、高密惠民村镇银行、贵定恒升村镇银行等多家中小银行，也陆续宣布调降部分期 限存款利率，调整幅度多集中在10个至20个基点。 苏商银行特约研究员高政扬对《证券日报》记者表示，中小银行下调存款利率，核心动因在于缓解净息 差收窄压力、优化负债成本结构。当前，LPR（贷 ...

智通财经APP获悉，高盛发布研报称，东亚银行(00023)上半年收入符合该行预估，净利息收入和费用收 入低于预期，但被交易收益抵销;每股盈利超该行预期14%。东亚上半年派息比率为45%(高盛预估为 47%)，中期息39港仙，比高盛预估的35港仙高出约10%。整体而言，高盛将东亚2025至27财年各年每股 盈测上调8%、11%及24%，目标价上调12%，从10.5港元上调至11.8港元，评级"沽售"。 报告引述东亚管理层预计2025年下半年净息差将面临逆风，且对贷款增长保持保守态度。高盛预计东亚 2025至27财年贷款同比分别增长2.1%、2.8%及4%，各年存款增长预估则分别上调至5.5%、3.9%及2.9% (此前为增4%、跌0.1%及跌0.2%)。 高盛又假设本轮降息周期净息差对HIBOR的敏感度(NIM beta)为0.16倍，低于2022年上半年至2024年下 半年的0.17倍，因此高盛预测东亚2025至2027财年净息差(NIM)分别为1.78%、1.8%及1.75%，对应净利 息收入同比分别料跌15%、增5%及增0.4%。高盛对东亚2025至27财年净利息收入预估分别降3%、降1% 及增2%。此外 ...

Group 1 - Several banks have recently announced reductions in deposit rates, with some term products decreasing by 20 basis points, as a strategy to alleviate pressure on the liability side amid declining loan rates and narrowing net interest margins [1][2] - Jiangsu Bank has lowered its 3-year deposit rate from 1.85% to 1.75%, while other terms remain unchanged at 1.5% for 1-year and 1.6% for 2-year deposits [1] - Other banks, such as Shengzhou Ruifeng Rural Bank, have also adjusted their deposit rates, with rates for various terms reduced by 10 to 20 basis points [1] Group 2 - The banking industry is experiencing significant pressure on net interest margins, with the average net interest margin for commercial banks reported at 1.42% in Q2 2025, a year-on-year decrease of 0.12 percentage points [2] - Analysts suggest that the high proportion of fixed-term deposits in small and medium-sized banks leads to higher interest costs compared to demand deposits, necessitating a reduction in deposit rates to manage liability costs [2] - The recent stability in the Loan Prime Rate (LPR) indicates potential for further declines to stimulate domestic demand and stabilize the real estate market [2] Group 3 - Banks are adopting proactive measures to manage both asset and liability sides, with Changshu Bank emphasizing cost control and optimization of deposit structures to reduce overall interest expenses [3] - Despite facing challenges from competition and regulatory pressures, small and medium-sized banks maintain unique advantages due to their geographical and relational strengths [3]

Core Viewpoint - The LPR (Loan Prime Rate) has remained unchanged for three consecutive months, with the 1-year rate at 3.0% and the 5-year rate at 3.5%, reflecting stability in the current economic environment [3][4]. Group 1: LPR Stability - The unchanged LPR rates align with market expectations, as the central bank's 7-day reverse repurchase rate has also remained stable, indicating no changes in the pricing basis for LPR [4]. - The recent increase in market interest rates and the historical low net interest margins for commercial banks have reduced the motivation for banks to lower LPR quotes [4][5]. Group 2: Economic Context - The stability of LPR is attributed to a moderately strong macroeconomic performance in the first half of the year, reducing the immediate need for adjustments to enhance counter-cyclical regulation [5]. - Both corporate and personal loan rates are currently at low levels, suggesting that lowering the LPR is not an urgent priority [5]. Group 3: Future Outlook - Experts suggest that the marginal effects of interest rate cuts are diminishing, and alternative methods to reduce overall financing costs, such as lowering non-interest costs, may be more effective [5]. - If the Federal Reserve lowers rates in September, it could create a more favorable external environment for adjustments in China's monetary policy, potentially leading to a decrease in LPR [5]. - There is an expectation for stronger policies to stabilize the real estate market, with potential targeted reductions in the 5-year LPR to alleviate high mortgage rates and stimulate housing demand [5].

Core Viewpoint - The Loan Prime Rate (LPR) remains unchanged at 3.0% for the 1-year term and 3.5% for the 5-year term, consistent with market expectations and reflecting stable policy rates since May [2][4]. Group 1: LPR and Market Conditions - The LPR has maintained stability for three consecutive months since its decline in May, indicating a lack of immediate necessity for further reductions [2][4]. - Current loan rates for enterprises and residents are at low levels, with new corporate loan rates around 3.2% and new personal housing loan rates at approximately 3.1%, down by about 45 basis points and 30 basis points year-on-year, respectively [4]. Group 2: Financial Institutions and Regulatory Environment - The net interest margin for commercial banks was reported at 1.42% in the first half of the year, showing a slight decrease of 0.01 percentage points from the first quarter, suggesting limited motivation for banks to lower LPR quotes [4]. - Future adjustments to policy rates and LPR quotes may have room for reduction as efforts to boost domestic demand and stabilize the real estate market continue [4].

Core Viewpoint - Jiangyin Bank has reported impressive mid-year results with revenue and net profit growth exceeding 10% year-on-year, alongside a recovery in net interest margin and improved asset quality [2][3] Financial Performance - As of June 30, Jiangyin Bank's total assets reached 207.577 billion, a 3.67% increase from the end of the previous year [3] - The bank achieved operating income of 2.401 billion and net profit attributable to shareholders of 846 million, representing year-on-year growth of 10.45% and 16.63% respectively [3] - The net interest margin stood at 1.54%, recovering by 3 basis points from the end of the first quarter [3] Interest Income and Management - Jiangyin Bank's interest income pressure has eased, with net interest income for the first half of the year at 1.409 billion, a year-on-year decline of only 0.23% [3] - The bank's deposit interest rate was controlled at 1.62%, down 26 basis points year-on-year, enhancing its interest margin management capabilities [3] Investment Income - Investment income has become a significant growth driver, with an increase of 81.44% year-on-year to 881 million, accounting for 36.72% of total operating income [4] - The bank's financial investment assets totaled 65.034 billion, representing 31.32% of total assets [4][5] Asset Quality - Jiangyin Bank's asset quality has improved, with overdue loans decreasing by over 16% and a non-performing loan ratio of 0.86% [6] - The provision coverage ratio increased to 381.22%, up 11.90 percentage points from the beginning of the year [6] Client Loan Concentration - The concentration risk from the top ten clients has decreased, with their loans accounting for 4.21% of total loans as of June 30, 2025 [7] - The bank is actively managing loan concentration risks by monitoring and controlling the credit limits for single clients and groups [7] Dividend Policy - Jiangyin Bank is expected to propose its first mid-year dividend, with the board recommending a plan for the 2025 interim dividend [7]

Core Viewpoint - The report highlights the performance of commercial banks in the first half of 2025, indicating a slight decline in net profit but improvements in various operational metrics, suggesting a mixed outlook for the banking sector [4][5]. Group 1: Profitability and Performance - In the first half of 2025, commercial banks achieved a net profit of 1.24 trillion, a year-on-year decrease of 1.2%, with the decline narrowing by 1.1 percentage points compared to the first quarter [4][5]. - The average capital return rate was 8.19%, down 0.63 percentage points from the previous quarter, while the non-performing loan (NPL) ratio was 1.49%, a decrease of 2 basis points [4][9]. - The profitability growth rates for different types of banks were as follows: state-owned banks +1.1%, joint-stock banks -2%, city commercial banks -1.1%, and rural commercial banks -7.9% [5]. Group 2: Asset Growth and Structure - The total asset growth rate of commercial banks increased by 1.7 percentage points to 8.9% by the end of the second quarter, with new asset investments amounting to 8.6 trillion, an increase of 6.5 trillion year-on-year [7]. - Loan and non-loan asset growth rates were 7.5% and 10.8%, respectively, both showing improvements from the previous quarter [7][8]. - The stock of loans accounted for 57.1% of total assets, slightly down by 0.5 percentage points, indicating a stable asset structure [7]. Group 3: Interest Margin and Cost Control - The net interest margin for commercial banks was recorded at 1.42%, slightly narrowing by 1 basis point from the first quarter [8]. - The interest margins for different bank types were: state-owned banks 1.31%, joint-stock banks 1.55%, city commercial banks 1.37%, and rural commercial banks 1.58% [8]. Group 4: Asset Quality and Risk Management - The non-performing loan ratio decreased by 2 basis points to 1.49%, with the total NPL balance at 3.4 trillion, remaining stable compared to the previous quarter [9]. - The attention loan ratio was 2.17%, down 1 basis point, indicating a stable overall asset quality despite pressures in retail loan segments [9].