A股净息差最高的银行，正在迎来一名最年轻的行长。 日前常熟银行公告，行长包剑、副行长李勇均因工作变动请辞； 同日新任行长人选浮出水面，副行长陆鼎昌将兼任行长与首席合规官。 陆鼎昌现年39岁，成长于常熟银行内部体系，曾从基层信贷员起步，历任普惠金融部、小微金融总部等部门负责人，亦在分支行管理岗有过历练。 一旦完成监管核准，其将刷新A股上市银行中最年轻的行长记录。 前任包剑，也曾是上市银行中最年轻的行长，也曾起步于基层，从柜员一步步行至行长位置，并主导开创小微金融事业，打造出深耕县域市场的"常银微 金"特色模式。 受益于"常银微金"模式，该行近年来业绩亮点颇多： 一是三季度末的净息差继续蝉联A股银行之首，维持在2.57%的高位； 二是业绩成长性较强，营收、净利、净资产收益率的三年年复合增长率在同业中靠前。 展现出强大抗周期能力的同时，该行似乎仍未摆脱对信贷员"人海战术"的依赖： 信风注意到，2024年末该行不仅人力数量远高于规模相近的同业，成本收入比、人均创收、人均创利三项效益数据，均处于同业末游。 狂飙的业绩与脱节的效能，共同构成了常熟银行县域业务的"AB面"。 一方面，是营收贡献率接近8成的利息收入增长2.3 ...

Core Insights - The China Banking Association released the "Top 100 Chinese Banks in 2025" list, with Changshu Rural Commercial Bank ranking 75th, an improvement of one position from the previous year, maintaining its status as the top county-level rural commercial bank for seven consecutive years [1] Financial Performance - As of June 30, 2025, Changshu Rural Commercial Bank reported total assets of 401.2 billion yuan, total deposits of 310.8 billion yuan, and total loans of 251.5 billion yuan, marking a significant scale of operations [1] - In the first half of the year, the bank achieved operating income of 6.062 billion yuan, a year-on-year increase of 10.10%, and net profit of 1.969 billion yuan, up 13.51% year-on-year, maintaining double-digit growth for 16 consecutive quarters [1] - The bank's non-performing loan ratio remained stable at 0.76%, indicating a balanced approach to quality and efficiency in its growth strategy [1] Business Strategy - The bank has implemented the "Changyin Microfinance" model to address financing challenges for small and micro enterprises, establishing a dual-track service network of "street running + data running" [1] - The balance of inclusive small and micro enterprise loans reached 104.3 billion yuan, while agricultural loans amounted to 139.2 billion yuan, demonstrating significant contributions to the real economy [1] Future Outlook - Looking ahead, Changshu Rural Commercial Bank plans to focus on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, aiming to create a distinctive financial service system [2] - The bank will concentrate on supporting small and micro enterprises and rural revitalization, fully committing to high-quality development in the new economic landscape [2]

Core Insights - Jiangsu Changshu Rural Commercial Bank has achieved significant growth since its establishment, with total assets increasing from 100 billion to 400 billion yuan over nine years, and cumulative cash dividends exceeding 5.56 billion yuan, with an average dividend payout ratio of over 28% [1][2][3] - The bank's strategic focus on serving "agriculture, rural areas, and small enterprises" has been a key factor in its success, demonstrating that smaller banks can thrive by pursuing specialized development paths rather than competing on size alone [1][2] - The bank has established a strong presence in the microfinance sector, with personal operating loans accounting for 37.56% of total loans as of June this year, reflecting a 17.04 percentage point increase since June 2016 [2][3] Financial Performance - In the first half of this year, the bank reported operating income of 6.062 billion yuan, a year-on-year increase of 10.10%, and a net profit attributable to shareholders of 1.969 billion yuan, up 13.51% year-on-year [1] - The bank's total assets surpassed 400 billion yuan, total deposits exceeded 300 billion yuan, and total loans surpassed 250 billion yuan as of June this year, marking its entry into the "432" era [1] Strategic Initiatives - The bank has implemented a technology-driven strategy for microfinance, establishing specialized institutions for small loans and focusing on early-stage technology enterprises and talent [2] - Changshu Bank has initiated the establishment of investment management village banks, enhancing management and service capabilities in rural areas, with 31 such banks now operational [3] - The bank is actively pursuing a "village-to-branch" reform model to deepen its institutional layout and expand its sustainable development space, with recent expansions into key urban markets [3]

Core Insights - Jiangsu Changshu Rural Commercial Bank has achieved significant growth, with total assets exceeding 400 billion yuan, total deposits surpassing 300 billion yuan, and total loans exceeding 250 billion yuan as of June 30 this year [2][4] - The bank maintains a low non-performing loan ratio of 0.76% and a high provision coverage ratio of 489.53%, indicating a strong risk management framework [2][4] Group 1: Growth and Performance - Over the past nine years since its listing, the bank has transitioned from a scale of 100 billion yuan to 400 billion yuan, marking a significant milestone [4] - In the first half of this year, the bank reported operating income of 6.062 billion yuan, a year-on-year increase of 10.10%, and a net profit attributable to shareholders of 1.969 billion yuan, up 13.51% year-on-year [4] - The bank has consistently achieved double-digit growth in revenue and net profit for 16 consecutive quarters [4] Group 2: Strategic Focus - The bank's mission is to serve the "three rural issues" and small micro-enterprises, which has been its core focus since its establishment [4][6] - The bank has developed a unique financial service model, "Changyin Microfinance," which integrates advanced micro-lending technology with a standardized process to effectively serve small businesses [6][7] - The bank aims to become a leader in rural finance and a benchmark for inclusive finance, emphasizing a differentiated development path [4][6] Group 3: Shareholder Returns - Since its listing, the bank has returned over 5.56 billion yuan in cash dividends to shareholders, with an average dividend payout ratio exceeding 28% [5] - In 2025, the bank introduced a mid-term dividend plan, distributing 0.15 yuan per share, totaling 499 million yuan, with a dividend payout ratio of 25.27% [5] Group 4: Expansion and Innovation - The bank has initiated the establishment of investment management village banks, enhancing its service network in rural areas [9][10] - The "village-to-branch" reform has been implemented to optimize resource allocation and reduce management costs, with successful integration of village banks into the bank's structure [9][10] - The bank's management emphasizes a culture of innovation and continuity, ensuring alignment with its strategic goals [7][10]

Core Viewpoint - Changshu Rural Commercial Bank is deepening its network layout in Jiangsu province through the absorption and merger of village banks, while facing challenges in profitability and asset quality in its non-local operations [1][3][9]. Group 1: Expansion Strategy - The bank has successfully integrated seven village banks into its network this year, with a focus on expanding its presence in southern, central, and northern Jiangsu [3][4]. - The bank's strategy includes a shift from "scale priority" to "quality breakthrough," as it navigates intense competition from other local commercial banks [1][12]. - The bank's total assets reached 63.91 billion yuan, with total deposits of 55.97 billion yuan and total loans of 43.41 billion yuan as of the reporting period [5]. Group 2: Financial Performance - In the first half of 2025, the bank achieved operating income of 6.062 billion yuan, a year-on-year increase of 10.1%, and a net profit attributable to shareholders of 1.969 billion yuan, up 13.51% [8][9]. - The bank's revenue from non-interest income grew by 57.26% to 1.422 billion yuan, contributing to 23.46% of total revenue [10]. - However, there is a noticeable decline in revenue and profit contributions from non-local operations, with a drop of 6.66 percentage points in revenue share compared to the previous year [9][10]. Group 3: Asset Quality and Regional Disparities - The bank's non-performing loan (NPL) ratio in Changshu is 0.50%, while it has risen to 0.85% in other regions of Jiangsu [10][11]. - The bank's strategy to enhance asset quality includes replicating successful local risk control models in its non-local branches [11]. - Analysts suggest that the bank should focus on quality improvement and risk management as it continues its expansion [11][12]. Group 4: Competitive Landscape - The bank faces significant competition from other local banks in Jiangsu, which are also targeting the same customer segments [12][13]. - The bank aims to differentiate itself by leveraging big data and AI to enhance its services for small and micro enterprises [13]. - Future strategies include focusing on high-quality, localized financial products tailored to the specific needs of different regions [13].

Group 1 - The core viewpoint of the news is that Changshu Bank has demonstrated strong financial performance in the first half of 2025, with significant growth in both revenue and net profit, indicating robust operational resilience [1] - In the first half of 2025, Changshu Bank achieved operating income of 6.062 billion yuan, a year-on-year increase of 10.1%, and a net profit attributable to shareholders of 1.969 billion yuan, up 13.51% [1] - The bank's interim profit distribution plan includes a cash dividend of 0.15 yuan per share, totaling 499 million yuan, which represents 25.27% of the net profit attributable to shareholders [1] Group 2 - Changshu Bank is focusing on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, to enhance financial services for the real economy [2] - The bank has opened new branches in Nanjing Jiangning, Suqian Shucheng, and Yangzhou Baoying, aiming to expand its market presence and coverage in regional development [2] - The bank plans to continue improving the quality of its services to the real economy through steady operational strategies and ongoing reform initiatives [2]

Group 1 - Jiangsu Changshu Rural Commercial Bank has opened new branches in Nanjing, Suqian, and Yangzhou, expanding its development footprint in Jiangsu province [1][2] - The opening of the Jiangning branch marks a strategic breakthrough for Changshu Bank, being its first establishment in the provincial capital of Nanjing, enhancing its regional layout [1] - The bank aims to provide inclusive financial services and support local economic development through specialized financial offerings, including inclusive finance, technology finance, digital finance, pension finance, and green finance [1] Group 2 - The Baoying branch in Yangzhou and the Sucheng branch in Suqian opened on June 30, 2023, reinforcing the bank's commitment to serving local economies and filling service gaps in these regions [2] - The Sucheng branch's rebranding focuses on understanding local customer needs and enhancing brand influence in the regional market [2] - Changshu Bank plans to strengthen its mission to support agriculture and small enterprises, optimizing its network in Nanjing, Yangzhou, and Suqian to drive sustainable development and contribute to Jiangsu's high-quality growth [2]

Core Points - Jiangsu Changshu Rural Commercial Bank has opened three new branches in Nanjing, Suqian, and Yangzhou following the absorption of three village banks [1][2] - The opening of these branches expands the bank's development footprint in Jiangsu province [1] - The bank aims to enhance its agricultural and small business support missions through differentiated financial services [2] Summary by Sections - **Branch Openings** - The bank has officially opened new branches in Nanjing Jiangning, Suqian Sucheng, and Yangzhou Baoying after receiving regulatory approval for the absorption of three village banks [1] - **Strategic Goals** - The new branches are part of the bank's strategy to deepen its market presence in Nanjing and optimize its network layout in Yangzhou and Suqian [2] - The bank is committed to providing more business momentum for sustainable development and contributing to the high-quality development of Jiangsu [2]