营收降幅较1Q 收窄0.7pct，盈利增速季环比提升1.1pct，营收及盈利增速环比均有改善。公司上半年营 收、PPOP 分别同比下降3%、2.5%，降幅较1Q 分别收窄0.7、1.4pct，归母净利润同比增长2.8%，增速 较1Q 提升1.1pct，营收盈利增速季环比均有改善。营收主要构成上，上半年净利息收入同比下降 1.9%，增速较1Q 下降4pct；非息收入同比下降5.1%，降幅较1Q 收窄9.4pct。 拆分盈利增速结构：规模、拨备为主要贡献分项，分别拉动业绩增速13.2、13.5pct。从边际变化看，规 模、拨备及成本管控正向拉动环比提升，非息收入负向拖累显著收窄，净息差在较高基数下负向拖累环 比走阔。 扩表速度维持稳定，资产结构进一步优化。截至2Q 末，中信银行生息资产、贷款同比增速分别为 7.8%、3.7%，增速较1Q 末分别变动+0.1、-1.4pct。上半年，生息资产增量2612 亿，其中2Q 单季减少 222 亿，主要受公司主动压控低息票据类资产拖累，贷款（不含贴息）、金融投资、同业资产规模增量 分别为178 亿、194 亿、225 亿。截至2Q 末，一般性贷款占总资产比例为56.6%，较 ...

Core Viewpoint - The report outlines the capital management and risk assessment framework of the Bank of China, emphasizing the adherence to regulatory requirements and the establishment of a comprehensive risk management system. Group 1: Capital Adequacy and Regulatory Compliance - As of December 31, 2024, the capital adequacy ratio reached 18.76%, an increase of 102 basis points from the previous year, indicating a stable and reasonable level of capital adequacy [1][5]. - The bank is classified as a domestic systemically important bank, subject to an additional capital requirement of 1.5% [1][5]. - The risk-weighted assets (RWA) totaled RMB 19,217,559 million, with a core Tier 1 capital adequacy ratio of 12.20% [1][5]. Group 2: Risk Management Framework - The bank has established a comprehensive risk management system that includes identifying, assessing, measuring, monitoring, reporting, and controlling various risks [2][3]. - A three-line defense structure is in place for credit risk management, ensuring clear responsibilities across different levels of the organization [16][15]. - The bank conducts regular stress testing to evaluate the impact of adverse scenarios on asset quality, profitability, capital levels, and liquidity [3][4]. Group 3: Internal Capital Adequacy Assessment - The bank has completed the design and implementation of its Internal Capital Adequacy Assessment Process (ICAAP), aligning with regulatory requirements [4][5]. - The ICAAP framework includes governance structure, risk assessment, capital planning, and monitoring systems [4][5]. - The bank's capital management plan is designed to enhance value creation and meet regulatory capital requirements [5][4]. Group 4: Credit Risk Management - Credit risk management policies are tailored to different business types, with specific guidelines for industry, region, customer, and product [15][16]. - The bank employs both primary and advanced internal rating methods to assess credit risk exposure, with 34.27% of default risk exposure covered by primary internal rating methods [18][15]. - The bank's credit risk management framework includes regular reporting to the board and senior management on the status of credit risk [15][16].