Core Insights - Chengdu Bank's Q3 2025 report highlights its robust asset quality and strategic positioning as a key financial support for the construction of the Western Financial Center and the Chengdu-Chongqing Economic Circle [1][2]. Asset Quality and Risk Management - Chengdu Bank maintains a low non-performing loan (NPL) ratio of 0.68% and a provision coverage ratio of 433.08%, placing it in the top tier of the banking industry [2]. - The bank's NPL ratio has remained at a historical low of 0.66% for six consecutive quarters, with a provision coverage ratio of 452.65%, significantly exceeding industry averages [2]. - The bank employs a refined risk control system, utilizing a comprehensive industry research framework and intelligent risk control technologies to predict and manage credit risks effectively [2]. - As of September, the bank's capital adequacy ratios are well above regulatory requirements, with a core Tier 1 capital ratio of 8.77%, Tier 1 capital ratio of 10.52%, and total capital ratio of 14.39% [2]. Credit Investment and Regional Development - Chengdu Bank's credit issuance aligns with the national policy to enhance financial support for the real economy, with total assets reaching 1.385 trillion yuan, a 10.81% increase year-on-year [3]. - The bank's loan and advance total reached 847.48 billion yuan, growing 14.13% from the previous year, thus contributing significantly to regional credit growth [3]. - The bank's deposits totaled 986.43 billion yuan, with an increase of 100.57 billion yuan, reflecting a growth rate of 11.35% [3]. Strategic Development and Growth - Chengdu Bank's strategic layout is closely aligned with the Chengdu-Chongqing financial collaboration policies, focusing on expanding its core business areas while developing new growth avenues [4]. - The bank has seen explosive growth in its cross-regional business, with over 30% of new deposits and loans coming from this segment, including personal deposits surpassing 100 billion yuan [4]. - The retail banking sector has shown significant progress, with over 5 million mobile banking users and a notable increase in personal consumption loans, reflecting a strong alignment with macroeconomic policies [4]. National Strategy and Financial Services - Chengdu Bank integrates its development with national strategies, focusing on technology finance, green finance, inclusive finance, pension finance, and digital finance [5][6]. - The bank has provided substantial funding for major projects, including over 45 billion yuan in special bonds and more than 16 billion yuan for local infrastructure [6]. - The bank's focus on key industries and innovative financial products has led to significant loan issuance to strategic emerging industries, with over 80% coverage for specialized enterprises [6]. Future Outlook - Chengdu Bank aims to leverage opportunities from the Western Financial Center and the Chengdu-Chongqing Economic Circle, focusing on high-quality development and expanding its business footprint [7].

证券研究报告 | 公司点评报告 2025 年 08 月 27 日 成都银行（601838.SH） 存贷增速高，资产质量优 总量研究/银行 成都银行披露 2025 年半年报，2025H1 营收、PPOP、归母利润同比增速分别 为 5.91%、6.84%、7.29%。从累计业绩驱动来看，25H1 规模扩张、其他非息、 成本收入比下降形成正贡献，净息差和中收形成拖累。单季度环比来看，25Q2 净息差对业绩拖累程度大幅下降，中收拖累成都有所增加，拨备贡献由正转负。 核心观点： 亮点：（1）存贷高增，资负结构改善。资产端，25Q2 末，公司总资产规模同 比增长 14.32%，增速环比回升 1.07pct，其中贷款同比增速高达 17.96%，环比 回升 1.05pct，在行业整体信贷增速放缓的趋势下实属难得。分业务来看，对公 贷款为基本盘，25Q2 末同比增长 15.62%，增速环比有所回落，但依旧高位； 零售端积极打造"成行消贷"特色品牌，个人消费贷款同比增长 26.13%，个人 住房贷款也实现了 11.67%的稳健增长，带动总的个人贷款实现了 12.85%的高 增速。另外，财政扩张下公司投资类资产规模上半年同比增长 ...

转自：新华财经 此外，成都银行立足政务金融、实体业务、零售负债三大业务"护城河"，深度聚焦实体客群行业分析及 风控体系搭建、异地分行贡献能力提升、特色财富管理业务顾问服务品牌打造、"成行消贷"特色品牌升 级、金融市场业务收益贡献扩大"五大提能方向"，扎实推动战略规划落地落实，持续打造具有广阔发展 空间的新势能。 编辑：尹杨 风险管控方面，截至今年上半年，成都银行不良贷款率0.66%，拨备覆盖率452.65%，流动性比例 95.44%，流动性持续充裕。 报告显示，今年上半年，成都银行依托区位优势，积极融入和服务国家区域重大战略和省市发展规划， 紧紧围绕高质量发展理念，深度聚焦成渝地区双城经济圈重大项目、重点产业，积极赋能新质生产力培 育和现代化产业体系打造，聚力推动成都都市圈同城化发展，助力成都进一步做大做强做优城市核心能 级，实现与实体经济共荣共赢共成长，取得显著发展成效。 新华财经北京8月27日电（记者吴丛司）成都银行26日晚间披露2025年半年度报告显示，今年上半年， 该行实现营业收入122.70亿元，同比增长5.91%；归属于母公司股东的净利润66.17亿元，同比增长 7.29%。 截至今年上半年，成都 ...