21世纪经济报道 记者 叶麦穗银行中期"红包雨"即将来临，沪农商行公告称，拟于9月26日发放现金红利，对普通股每股派发0.241元（含税），共计派发 23.24亿元。此外，长沙银行也将于同一日发放现金红利，对A股每股派发0.20元（含税），共计派发8.04亿元。根据同花顺统计，42家A股上市银行中，已 有17家银行公布2025年中期分红计划，其中国有六大行贡献超2000亿元分红，招商银行、长沙银行等7家银行实现上市以来首次中期分红，常熟银行、民生 银行、苏农银行等银行中期分红已落地。 | ▲ | nf | [→ 클出全部 区 | 農 存为模板 | バ | | # 冶筛 | | --- | --- | --- | --- | --- | --- | --- | | 提取数据 | 导出当前表 | 网 导出PDF | 哈 存为板块 | 指标运算 | 指标管理 | の清 | | 提取 | | 导出数据 | 保存 | | | | | Q 请输入查找内容 | | | 查找 | 清空 | 备注:点击数据军 | | | 序号 证券代码 | | 证券名称 | > | | 现金分红总额 [报告期] 2025中报 「币种】 原始币 ...

上海农村商业银行股份有限公司2025年半年度权益分派实施公告：每股现金红利0.241元（含税），股 权登记日为2025年9月25日，除权（息）日和现金红利发放日均为2025年9月26日。本次利润分配以公司 总股本9,644,444,445股为基数，共派发现金红利2,324,311,111.25元。分配对象为截至股权登记日在中国 结算上海分公司登记在册的全体股东。现金红利通过中国结算上海分公司派发，部分股东由公司自行发 放。对不同股东按税法规定实行差别化个人所得税政策，持股超1年者暂免征收个人所得税，QFII及沪 股通投资者按10%税率代扣代缴。咨询电话：021-61899333。 截至2025年9月19日收盘，沪农商行（601825）报收于8.48元，较上周的8.68元下跌2.3%。本周，沪农 商行9月15日盘中最高价报8.69元。9月19日盘中最低价报8.34元。沪农商行当前最新总市值817.85亿 元，在农商行板块市值排名1/10，在两市A股市值排名207/5153。 本周关注点 公司公告汇总 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 ...

Core Insights - The banking sector in China has shown resilience and adaptability in a complex economic environment, with 42 A-share listed banks reporting a total revenue of 2.92 trillion yuan and a net profit of 1.1 trillion yuan for the first half of 2025, reflecting a year-on-year growth of 1% and 0.8% respectively [2][4] - The asset quality of the banks remains stable, with a non-performing loan (NPL) ratio of 1.15%, a slight decrease from the previous quarter [2][12] - The number of banks paying mid-year dividends has increased to 17, with over half of them maintaining a dividend payout ratio of 30% or more [2][14] Revenue and Profit Growth - The total revenue of A-share listed banks reached 2.92 trillion yuan, marking a 1% increase year-on-year, while the net profit was 1.1 trillion yuan, up 0.8% [4] - The six major state-owned banks contributed 1.81 trillion yuan in revenue and 682.52 billion yuan in net profit, accounting for over 60% of the overall market [4] - Industrial and Commercial Bank of China (ICBC) led the revenue with 409.08 billion yuan, showing a growth of 1.8% [4] Interest Margin and Income Structure - The net interest margin for the banks was 1.53%, down 8 basis points from the beginning of the year, but the decline has narrowed compared to the same period last year [5][6] - Non-interest income grew by 6.97% year-on-year, with significant contributions from investment income, which increased by 23.46% [6] - Banks are diversifying their income sources, reducing reliance on traditional interest margins [6][7] Support for the Real Economy - The total assets of the 42 listed banks reached 321.33 trillion yuan, a 6.35% increase from the end of the previous year [9] - Loans and advances amounted to 179.44 trillion yuan, reflecting an increase of approximately 13.4 trillion yuan or 8.07% [9] - The growth in loans to key sectors, including technology and green financing, indicates a strategic alignment with national priorities [10] Asset Quality and Risk Management - The NPL ratio for the banks was 1.15%, with 25 banks showing a year-on-year decline in NPL ratios [12] - The stability in asset quality is attributed to macroeconomic support, regulatory guidance, and effective risk management practices by the banks [12] Dividend Distribution - The number of banks implementing mid-year dividends has risen to 18, with a total cash dividend of 204.66 billion yuan from the six major state-owned banks [14] - ICBC proposed a dividend of 1.414 yuan per share, leading the mid-year dividend distribution among listed banks [14][15] - The increase in dividend payout ratios reflects strong performance and a commitment to returning value to shareholders [15]

Core Viewpoint - The six major state-owned banks in China announced a total cash dividend of 204.657 billion yuan for the first half of 2025, reflecting strong financial performance and a commitment to shareholder returns [1] Group 1: Dividend Announcements - Industrial and Commercial Bank of China (ICBC) plans to distribute 1.414 yuan per share, totaling approximately 50.396 billion yuan, leading the dividend payouts among listed banks [1] - Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China have proposed interim dividend amounts of 41.823 billion yuan, 35.25 billion yuan, 48.605 billion yuan, 13.811 billion yuan, and 14.772 billion yuan respectively [1][2] - Postal Savings Bank has maintained a stable dividend payout ratio of 30% since 2018, with a total dividend exceeding 170 billion yuan since its H-share listing [2] Group 2: Market Performance and Investor Sentiment - As of August 29, 2025, the stock prices of major banks have shown significant fluctuations, with ICBC up 11.18% and Agricultural Bank up 37.37% year-to-date [3] - The overall market sentiment has improved due to favorable policies, shifting investor preference from defensive sectors to growth sectors [3][4] - Experts believe that the stable dividend policy reflects banks' confidence in their profitability and capital adequacy, which is expected to attract long-term investments [4] Group 3: Financial Health and Regulatory Environment - The capital adequacy ratio of the six major banks is generally above 13%, providing a safety net for dividend distributions [4] - Regulatory encouragement for banks to enhance dividend stability aims to create a predictable return for investors, particularly appealing to long-term funds like insurance and pension funds [4]

Core Viewpoint - The mid-term profit distribution plans of listed banks in A-shares for 2025 show a significant increase in total dividends, reaching 237.54 billion yuan, with state-owned banks being the primary contributors [2][3][4]. Group 1: Dividend Distribution Overview - Among 42 listed banks, 17 have announced their mid-term dividend plans for 2025, with a total dividend amount of 237.54 billion yuan [2][3]. - The six major state-owned banks contributed 204.66 billion yuan, accounting for 86% of the total dividends announced by the 17 banks [3][4]. - Industrial and Commercial Bank of China leads with a dividend of 50.40 billion yuan, followed by China Construction Bank and Agricultural Bank of China with 48.61 billion yuan and 41.82 billion yuan respectively [3][4]. Group 2: Factors Influencing Dividend Decisions - The ability of state-owned banks to distribute dividends is supported by their strong capital strength, stable profitability, and ample cash flow, allowing them to maintain high dividend payouts [4][9]. - The decision to distribute dividends is influenced by a balance of capital adequacy, business expansion needs, regulatory requirements, and shareholder return expectations [4][9][10]. - Some banks, such as Zhengzhou Bank and Qingdao Rural Commercial Bank, have explicitly stated they will not distribute dividends for the first half of 2025, citing performance pressures and capital replenishment needs [8][9]. Group 3: Trends in Dividend Distribution - The trend of increasing mid-term and quarterly dividends among listed banks has been noted since the introduction of the new "National Nine Articles" policy, which encourages multiple dividend distributions within a year [2][4]. - Several joint-stock banks, including CITIC Bank and Minsheng Bank, have announced their mid-term dividend plans, with CITIC Bank aiming for a dividend payout ratio of 30.7% [4][6]. - The distribution landscape shows a clear differentiation, with some banks actively pursuing dividends while others pause due to various operational challenges [8][9].

Core Viewpoint - The mid-term profit distribution plans of listed banks in A-shares for 2025 are gradually being revealed, with a total mid-term dividend amount reaching 237.54 billion yuan, indicating a clear differentiation in the dividend distribution landscape among banks [1][3][4]. Group 1: Dividend Distribution Overview - Among 42 listed banks, 17 have announced their mid-term dividend plans for 2025, with state-owned banks leading the distribution [3][4]. - The six major state-owned banks have a combined dividend amount of 204.66 billion yuan, accounting for 86% of the total mid-term dividends announced by the 17 banks [3][4]. - Industrial and Commercial Bank of China leads with a dividend of 50.40 billion yuan, followed by China Construction Bank and Agricultural Bank of China with 48.61 billion yuan and 41.82 billion yuan respectively [3][4]. Group 2: Factors Influencing Dividend Decisions - The ability of state-owned banks to distribute dividends is supported by their strong capital strength, stable profitability, and ample cash flow, allowing them to actively pursue dividend plans [4][9]. - The dividend decisions of banks are influenced by a combination of capital adequacy ratios, business expansion needs, regulatory requirements, and shareholder return expectations [1][8]. - Some banks, such as China Merchants Bank and Nanjing Bank, are in the process of finalizing their mid-term dividend plans, while others like Shanghai Pudong Development Bank and Zhengzhou Bank have explicitly stated they will not distribute dividends for the first half of 2025 [6][7]. Group 3: Emerging Trends and Future Outlook - The new "National Nine Articles" policy encourages listed companies to increase dividend distributions, leading to a noticeable rise in mid-term and quarterly dividends among listed banks [3][4]. - Smaller banks are showing a clear divide in their dividend policies, with some opting not to distribute dividends due to performance pressures and urgent capital replenishment needs [7][8]. - The balance between short-term investor returns and long-term operational stability is crucial for banks when deciding on dividend distributions, with a focus on maintaining adequate capital for future growth [9].

Core Viewpoint - The six major state-owned banks in China reported improved financial performance in the first half of 2025, with total operating income reaching 1.83 trillion yuan, a slight increase from approximately 1.8 trillion yuan in the same period last year, and a net profit attributable to shareholders of 682.52 billion yuan, down from about 683.39 billion yuan year-on-year [3][4]. Financial Performance Summary - The total operating income of the six major banks showed a year-on-year increase, with China Bank (3.76%), Construction Bank (2.15%), and Industrial and Commercial Bank (1.57%) leading in growth rates. In contrast, last year, five of the six banks experienced negative growth in operating income, with the Industrial and Commercial Bank seeing a decline of over 6% [5][6]. - In terms of net profit attributable to shareholders, three banks reported positive growth, with Agricultural Bank leading at 2.66%. The net profit growth rates for Traffic Bank and Postal Savings Bank were 1.61% and 0.85%, respectively. Last year, only Agricultural Bank achieved positive net profit growth, while the other five banks experienced declines of over 1% [6][7]. Dividend Distribution - All six major banks announced a mid-term dividend plan, distributing 30% of their net profit attributable to shareholders as cash dividends, totaling 204.66 billion yuan. This is comparable to last year's mid-term dividend total of approximately 204.82 billion yuan [6][7]. - Specific dividend distributions include: - Industrial and Commercial Bank: 503.96 billion yuan, 1.414 yuan per 10 shares (after tax) [7]. - Agricultural Bank: 418.23 billion yuan, 1.195 yuan per 10 shares (after tax) [7]. - Construction Bank: 486.05 billion yuan, 1.858 yuan per 10 shares (after tax) [7]. - China Bank: 352.50 billion yuan, 1.094 yuan per 10 shares (before tax) [7]. - Traffic Bank: 138.11 billion yuan, 1.563 yuan per 10 shares (after tax) [7]. - Postal Savings Bank: 147.72 billion yuan, 1.230 yuan per 10 shares (after tax) [7]. Stock Performance - As of August 29, the median dividend yield for the six major banks was over 3%, with the highest yield at 4.15% for Industrial and Commercial Bank and the lowest at 2.03% for Construction Bank. Year-to-date stock performance varied, with Agricultural Bank leading with a 37.37% increase, while Traffic Bank saw a decline of 1.55% [7][8].

Core Viewpoint - The performance report of China's six major state-owned banks for the first half of 2025 demonstrates their strong profitability and stability, reinforcing their appeal to conservative investors who value safety and consistent returns [1][2]. Group 1: Financial Performance - The six major banks collectively earned over 690 billion yuan in net profit in the first half of 2025, showcasing robust profitability [1]. - Industrial and Commercial Bank of China (ICBC) led with a revenue of 427.09 billion yuan, although its net profit decreased by 1.46% year-on-year to 168.80 billion yuan [3]. - Agricultural Bank of China reported a revenue of 369.90 billion yuan and a net profit increase of 2.5% to 139.94 billion yuan [4]. Group 2: Asset Quality - All six banks reported a year-on-year decline in non-performing loan (NPL) ratios, indicating improved asset quality [5]. - Postal Savings Bank of China had the lowest NPL ratio at 0.92%, while ICBC and China Construction Bank both reported NPL ratios of 1.33% [6]. - The banks maintained high provision coverage ratios, with ICBC at 217.71% and Agricultural Bank at 295% [5][6]. Group 3: Net Interest Margin - The net interest margin (NIM) for the six banks collectively declined, with the range of decrease between 0.08% and 0.21% [7]. - Postal Savings Bank had the highest NIM at 1.7%, while ICBC and Agricultural Bank reported NIMs of 1.3% and 1.32%, respectively [7][9]. - Future expectations indicate that while NIM may continue to decline, the rate of decrease is expected to slow down [10][11]. Group 4: Dividend Distribution - The six banks plan to distribute over 200 billion yuan in dividends, reflecting their status as "cash cows" in the capital market [12]. - The dividend payout ratio for most banks is around 30%, with ICBC proposing a dividend of 1.414 yuan per 10 shares, totaling approximately 50.40 billion yuan [12][13]. - The consistent high dividend payouts enhance the attractiveness of these banks to long-term investors [14][15].

Core Viewpoint - The performance of China's six major state-owned banks in the first half of 2025 demonstrates their strong profitability and investment value, with a total net profit exceeding 690 billion yuan and a total dividend payout expected to exceed 200 billion yuan, reinforcing their status as "cash cows" in the capital market [2][15]. Group 1: Financial Performance - The six major banks achieved a total net profit of over 690 billion yuan in the first half of 2025, with all banks announcing mid-term dividend plans totaling over 200 billion yuan [2][15]. - Industrial and Commercial Bank of China (ICBC) reported the highest operating income of 427.09 billion yuan, but its net profit decreased by 1.46% year-on-year to 168.80 billion yuan [5][6]. - Agricultural Bank of China (ABC) ranked third in operating income with 369.90 billion yuan and a net profit increase of 2.5% to 139.94 billion yuan [7]. Group 2: Asset Quality - All six banks reported a year-on-year decline in non-performing loan (NPL) ratios, indicating improved asset quality [8][9]. - Postal Savings Bank of China had the lowest NPL ratio at 0.92%, while ICBC and Construction Bank both reported NPL ratios of 1.33% [8][9]. - The provision coverage ratios remained high, with ICBC at 217.71% and ABC at 295%, indicating strong risk mitigation capabilities [8][9]. Group 3: Net Interest Margin - The net interest margin (NIM) for all six banks showed a collective decline, with the range of decrease between 0.08% to 0.21% [10][11]. - Postal Savings Bank led with a NIM of 1.7%, followed by Construction Bank at 1.4% and ABC at 1.32% [10][13]. - The banks' management expressed expectations for a continued decline in NIM, but with a narrowing rate of decrease in the second half of the year [14]. Group 4: Dividend Distribution - The total expected dividend payout from the six banks is over 200 billion yuan, with dividend rates generally around 30% [15][18]. - ICBC plans to distribute approximately 50.40 billion yuan, while ABC intends to distribute about 41.82 billion yuan, both maintaining a 30% payout ratio [15][16]. - The consistent high dividend payout ratios reflect the banks' confidence in their operational stability and aim to attract long-term investors [17][18].

Group 1 - The core viewpoint of the article highlights that the Bank of China has efficiently completed its dividend distribution for the fiscal year 2024, amounting to 71.36 billion yuan [1] - The proposed interim dividend for the fiscal year 2025 is set at 1.094 yuan per 10 shares, totaling 35.25 billion yuan, maintaining a high payout ratio of 30% [1]