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 ...

Investment Rating - The report maintains an "Overweight" rating for the company [1] Core Views - The company reported a revenue of 640.03 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 2.17%, and a net profit attributable to shareholders of 269.91 billion yuan, up 0.33% year-on-year [4][5] - Total assets reached 52.81 trillion yuan, growing by 9.21% year-on-year, with total loans amounting to 30.45 trillion yuan, an increase of 8.39% year-on-year [4][5] - The non-performing loan (NPL) ratio remained stable at 1.33%, while the NPL coverage ratio was 217.21%, down 0.50 percentage points quarter-on-quarter [4][5] Summary by Sections Financial Performance - The company achieved a quarterly net interest margin of 1.24%, a decrease of 3 basis points quarter-on-quarter and 19 basis points year-on-year [5] - The interest income was impacted by a lower base from the previous year, leading to a decline in net interest income [8] Loan and Asset Quality - The growth in loans has slowed marginally due to demand factors, but the company outperformed the industry average in loan growth, showcasing its strong customer base [5][6] - The overall asset quality remains stable, with the NPL ratio holding steady and expectations for manageable individual loan pressures [6][8] Revenue Streams - Non-interest income has shown significant improvement, driven by a recovery in commission and fee income, alongside strong investment returns [5][8] - The company’s investment income and fair value changes have increased, reflecting a robust operational strategy [5][8] Future Outlook - The company is expected to maintain stable growth in revenue and profit, with projected revenues of 833.1 billion yuan, 841 billion yuan, and 882.7 billion yuan for 2025, 2026, and 2027 respectively [7][8] - The forecasted net profit for the same years is 367.6 billion yuan, 374 billion yuan, and 381.4 billion yuan, indicating a gradual increase [7][8]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The report highlights that the decline in net interest margin has narrowed, and asset quality remains stable [1] - The company achieved operating income of 427.09 billion yuan (+1.57% YoY) and net profit attributable to ordinary shareholders of 168.10 billion yuan (-1.39% YoY) in the first half of 2025 [5] - The non-performing loan (NPL) ratio is stable at 1.33%, with a provision coverage ratio of 217.71% [5][6] - The report anticipates that the pressure on net interest margin will ease, and commission income is expected to recover further [8] Summary by Sections Financial Performance - In H1 2025, total assets reached 52.32 trillion yuan (+11.04% YoY), with total loans of 30.19 trillion yuan (+8.44% YoY) [5] - The second quarter's net interest margin was 1.27%, reflecting a decrease of 6 basis points QoQ and 11 basis points YoY [5] - The company’s operating income and net profit forecasts for 2025-2027 are 829.2 billion yuan, 834.4 billion yuan, and 887.3 billion yuan respectively, with net profit forecasts of 369.5 billion yuan, 375.8 billion yuan, and 383.5 billion yuan [7][8] Asset Quality - The NPL ratio remains stable at 1.33%, with a slight increase in overdue rates observed [5][6] - The report indicates that individual loan quality is manageable, supported by a solid customer base and prudent risk management [6] Business Outlook - The report suggests that the company will maintain a strong position in the industry, with expectations for stable growth in commission income due to improved market activity [8] - The company is expected to benefit from government support and a solid customer base, which will help it navigate the challenging operating environment [8]

新京报贝壳财经讯（记者姜樊）9月1日，招商银行副行长兼财务负责人、董事会秘书彭家文在举行的 2025年中期业绩发布会上表示，银行今年手续费及佣金收入总体承压，最大的压力来自于信用卡业务收 入。 "信用卡收入与其交易相关联。上半年招行信用卡的交易量实际上突破了2万亿，比去年下降8.3%，但 信用卡交易的市场份额提升了0.3个百分点。"彭家文介绍，信用卡的交易量下行与当前整个消费市场增 速尚未恢复息息相关。这使招行信用卡收入负增长16%，而信用卡客户数在增加，这意味着每个客户的 户均消费、笔均消费金额有所下降，是信用卡收入负增长的主要原因。招行信用卡收入占比较高，因此 影响相对较大。 此外，彭家文介绍，招商银行财富管理收入三年以来首次实现增速转正，而且增速达到了11%以上。其 中，代销理财、代销信托、代销基金的收入增长均较快，成为今年上半年手续费及佣金收入的亮点。 编辑 陈莉 校对 刘军 ...

Core Viewpoint - The overall fee and commission income of the bank is under pressure, primarily due to a decline in credit card business revenue [1] Group 1: Credit Card Business - Credit card transaction volume for the bank exceeded 2 trillion, but decreased by 8.3% compared to last year [1] - The market share of credit card transactions increased by 0.3 percentage points [1] - The decline in credit card revenue by 16% is attributed to the overall sluggish growth in the consumer market [1] - Despite an increase in the number of credit card customers, the average spending per customer and per transaction has decreased, leading to negative revenue growth [1] Group 2: Wealth Management - The bank's wealth management income has achieved positive growth for the first time in three years, with an increase of over 11% [1] - Revenue from the sale of financial products, trusts, and funds has grown rapidly, becoming a highlight of the bank's fee and commission income in the first half of the year [1]

Investment Rating - The report maintains an "Accumulate" rating for the company [4] Core Views - The company reported a slight decline in Q1 revenue and net profit, with operating income at CNY 89.36 billion (-0.07% YoY) and net profit attributable to shareholders at CNY 25.25 billion (-2.62% YoY) [4] - Total assets reached CNY 17.69 trillion, reflecting an 8.31% increase YoY, while the non-performing loan (NPL) ratio stood at 0.91% [4] - The company has seen a decrease in net interest margin (NIM) to 1.71%, down 21 basis points YoY, influenced by recent LPR cuts [4] - The report highlights strong growth in corporate credit and a slight slowdown in financial investment growth, with a notable increase in corporate loans [4] - Fee and commission income grew by 8.76% YoY, outperforming peers, driven by strong performance in corporate services [4] - The company is expected to benefit from a recent capital increase plan, which will enhance its core tier 1 capital ratio significantly [7] Summary by Sections Financial Performance - Q1 operating income was CNY 89.36 billion, and net profit was CNY 25.25 billion, with total assets at CNY 17.69 trillion [4] - The NPL ratio increased slightly to 0.91%, while the NPL coverage ratio decreased to 266.13% [4] Interest Margin and Rates - The net interest margin decreased to 1.71%, with a significant impact from the recent LPR cuts [4] - The company adjusted deposit rates downward, which is expected to alleviate pressure on interest margins [4] Loan and Deposit Growth - Corporate loan growth was strong, with new corporate loans reaching a record high, while personal loans remained weak [4] - Deposit growth slowed slightly, consistent with industry trends [4] Non-Interest Income - Fee and commission income increased by 8.76% YoY, indicating strong performance in corporate services [4] - Investment income grew by 18.81% YoY, driven by strong investment scale and strategies [4] Capital and Future Outlook - The company plans to raise CNY 130 billion through a private placement to enhance its capital base [7] - Future earnings are expected to recover as interest margin pressures ease, with revised revenue forecasts for 2025-2027 [7]