2026年1月23日，杭州银行股份有限公司（以下简称"杭州银行"）发布2025年度业绩快报。作为其2021– 2025年"二二五五"战略规划的收官之年，该行交出了一份经营稳健、质效双升的高质量发展答卷。数据 显示，截至2025年末，杭州银行总资产突破2.36万亿元，较上年末增长11.96%；全年实现归属于上市公 司股东的净利润190.30亿元，同比增长12.05%；不良贷款率连续多年稳定在0.76%，拨备覆盖率达 502.24%，资产质量指标继续保持在上市银行第一梯队。 战略收官成效显著，经营效益稳步提升 2025年，面对复杂多变的宏观经济环境，杭州银行深入贯彻落实党的二十大和二十届历次全会精神，紧 扣"从严治行、服务客户、转型发展"主线，扎实推进"二二五五"战略目标全面落地。通过深化科创金 融、信用小微、中小企业服务和财富管理等重点领域改革，强化资产负债主动管理，全行经营质效持续 向好。 业绩快报显示，2025年杭州银行实现营业收入387.99亿元，同比增长1.09%；其中利息净收入275.94亿 元，同比增长12.83%；手续费及佣金净收入42.07亿元，同比增长13.10%，盈利结构进一步优化。归属 于 ...

以下文章来源于阿尔法工场金融家 ，作者银妹妹 阿尔法工场金融家 . 追踪保险银行业圈内动态，剖析最新风向，分享有料、有价值的"内行人"洞察见解。 导语：万亿资产规模体量下，灵活性是相对的，波动性却是绝对的。 分析师发的"扎心"朋友圈， 也让长期重仓债券的银行们多少有些破防。 2025年第23届新财富最佳分析师评选中，浙商证券(601878.SH)覃汉团队首次进入前五。但固 收首席分析师覃汉本人对这一成绩并不满意，他随后在朋友圈发文称，为了评选拉票，他明知市 场即将转向还是选择了放弃发出看空信号，结果"只拿到第五，我今天真的哭了"。据21世纪经济 报道，覃汉已因不当言论被调查。 这句"早知道第三季度就该翻空"，一语成谶，重重砸在了深度布局2025年债市的各家银行商业 银行资产负债表上。 对于那些习惯了利用债牛行情增厚业绩的城商行而言，经历漫长低利率舒适区后，收益率曲线开 始剧烈波动，曾经被视为银行资产配置"压舱石"的债券，也变得狰狞起来。 长三角区域城商行的佼佼者杭州银行（600926.SH），在这一轮波动中的经历相当具有典型性。 杭州银行披露的2025年三季度报告中， 其中第三季度单季营收同比负增长达4.02 ...

Core Insights - Hangzhou Bank reported a revenue of 28.88 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 1.35%, while the third quarter saw a decline of 4.02% compared to the previous year [1][2] - The net profit for the same period reached 15.885 billion yuan, up 14.53% year-on-year, primarily due to a 38.47% reduction in credit impairment provisions [1][2] Revenue and Profit Analysis - The bank's revenue for Q3 2025 was 8.787 billion yuan, showing a negative growth of 4.02% year-on-year [2] - Interest income increased by 9.96% to 20.093 billion yuan, accounting for 69.58% of total revenue, with a net interest margin rising by 0.01 percentage points to 1.36% [2] - Non-interest income included a 12.65% increase in net fee and commission income to 3.298 billion yuan, while investment income rose by 22.3% to 7.307 billion yuan [2] Asset and Loan Growth - As of September 2025, total assets reached 2.3 trillion yuan, an increase of 8.67% year-on-year, with total loans at 1.03 trillion yuan, up 9.39% [3] - The bank's loan balance growth rate was 12.94%, maintaining double-digit growth but showing a slight decline compared to previous years [3] - Financial investments grew by 13.12%, making up 47.4% of total assets [3] Wealth Management and Retail Banking - The wealth management subsidiary, Hangyin Wealth Management, reported a product scale of 557.458 billion yuan, reflecting a year-on-year increase of 31.69% [4] - Retail customer total assets reached 674.357 billion yuan, with personal savings deposits increasing by 15.84% to 347.353 billion yuan [3] Credit Quality and Capital Adequacy - The non-performing loan (NPL) ratio remained stable at 0.76%, with total NPLs at 6.906 billion yuan [5] - The bank's capital adequacy ratios showed slight declines from the previous half-year, with the core tier 1 capital adequacy ratio at 9.64% [5]

Core Viewpoint - Hangzhou Bank reported a steady performance in the first three quarters of 2025, with net profit and revenue increasing by 14.53% and 1.35% year-on-year, respectively, despite industry challenges [1][2] Financial Performance - The bank achieved a net profit of 15.885 billion yuan, reflecting a 14.53% year-on-year growth, indicating strong profitability [1] - Interest income reached 20.093 billion yuan, up 9.96% from the previous year, serving as a key driver for performance [1] - Total operating revenue was 28.880 billion yuan, with a modest growth of 1.35% year-on-year [1] - Net fee and commission income rose to 3.298 billion yuan, a 12.65% increase, supported by diversified middle-income business [1] Asset Quality and Risk Management - As of the end of Q3 2025, the bank's total assets amounted to 229.5424 billion yuan, an 8.67% increase from the previous year [2] - Total loans reached 102.5573 billion yuan, growing by 9.39%, with loans constituting 44.68% of total assets [2] - The non-performing loan (NPL) ratio remained stable at 0.76%, reflecting strong asset quality [2] - The provision coverage ratio stood at 513.64%, indicating robust risk mitigation capabilities [2] Shareholder Returns - The bank proposed a cash dividend of 3.80 yuan per 10 shares for the 2025 interim period, totaling 2.755 billion yuan, a year-on-year increase of over 24% [3] - Cumulative cash dividends since listing will exceed 21.8 billion yuan, demonstrating a commitment to shareholder returns [3] - The bank aims to enhance financial service quality and create long-term value for investors and society [3]

Group 1 - The core viewpoint of the report indicates that Hangzhou Bank achieved a revenue of 20.093 billion yuan in the first half of 2025, representing a year-on-year growth of 3.90% [1] - The net profit attributable to shareholders reached 11.662 billion yuan, with a year-on-year increase of 16.66% [1] - The bank's total assets amounted to 2,235.595 billion yuan, reflecting a growth of 5.83% compared to the end of the previous year [1] Group 2 - The non-performing loan ratio stood at 0.76%, remaining stable compared to the end of the previous year [2] - The overdue loans to non-performing loans ratio increased by 7.20 percentage points, while the ratio of overdue loans over 90 days to non-performing loans rose by 11.15 percentage points [2] - The provision coverage ratio decreased by 20.56 percentage points, reaching 520.89% [2]