42家A股上市银行半年报已悉数披露完毕。数据显示，2025年上半年，42家银行营收合计2.92万亿元， 同比增长1%；归母净利润1.1万亿元，同比增长0.8%；不良贷款率1.15%，环比下降1BP。 面对复杂多变的经济环境，银行业不断提升经营质效，持续加大实体经济支持力度，交出了一份亮眼的 成绩单。营收净利双双实现正增长的同时，资产质量保持稳定，业绩回暖明显。尤值一提的是，上半年 上市银行净息差降幅较年初出现收窄的积极改善迹象，银行收入结构更加多元化，经营能力稳步提升。 受益于良好的业绩表现，今年中期分红的银行数量增加至17家，一半以上银行分红比例在30%及以上水 平。 营收净利增长回暖，收入结构更多元化 从归母净利润看，33家银行实现正增长，其中6家银行增速在两位数以上。数据显示，杭州银行、江阴 银行、齐鲁银行、青岛银行、常熟银行、浦发银行归母净利润同比增长16.7%、16.6%、16.5%、16%、 13.5%、10.2%。 还有4家银行归母净利润增速环比由负转正。北京银行、邮储银行、招商银行、兴业银行归母净利润增 速环比一季度转正。招商银行行长王良在业绩发布会上表示："尽管一季度受贷款重定价等因素影响， ...

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]