Core Viewpoint - The intermediary business income of A-share listed banks in China has shown improvement in the first half of 2025, becoming a crucial area for banks to transform and develop amid narrowing net interest margins [1][4]. Group 1: Overall Performance - In the first half of 2025, the total net income from fees and commissions of 42 listed banks reached 409.53 billion yuan, an increase of 3.06% compared to the same period last year [1]. - Out of the 42 listed banks, 25 reported positive growth in net income from fees and commissions, with three banks experiencing growth rates exceeding 100% and nine banks exceeding 10% [2]. Group 2: Performance by Bank Type - Among the six major state-owned banks, Bank of China and China Construction Bank both saw their fee and commission income grow by over 4%, while Agricultural Bank of China and Postal Savings Bank of China reported growth exceeding 10% [2]. - In the joint-stock banks category, four out of nine banks reported positive growth in net income from fees and commissions, with CITIC Bank achieving 16.91 billion yuan (up 3.38%), Industrial Bank at 13.08 billion yuan (up 2.59%), Huaxia Bank at 3.10 billion yuan (up 2.55%), and Minsheng Bank at 9.69 billion yuan (up 0.41%) [2]. Group 3: Notable Performers - Some city commercial banks and rural commercial banks exhibited significant growth in their fee and commission income, with Changshu Bank reporting a remarkable increase of 637.77% to 142 million yuan, followed by Ruifeng Bank with a 274.07% increase to 54 million yuan, and Zhangjiagang Bank with a 140% increase to 61 million yuan [3]. Group 4: Future Outlook - Analysts predict that the growth trend in intermediary business income is likely to continue in the second half of 2025, driven by supportive macroeconomic policies and increasing demand for high-yield products among residents [4]. - The focus for banks will be on expanding non-interest income, particularly in wealth management and other light-capital businesses, to optimize their income structure [4][6].