净息差较2025Q1 提升，负债端成本减轻。2025 年上半年，成都银行净息差为1.62%，较一季度 +12bps，同比下滑4bps。资产收益率为3.57%，同比-31bp，其中贷款收益率为4.06%，同比-35bp，融资 需求不足、LPR 多次下调、个人住房贷款利率下滑等因素导致各类新发放人民币贷款定价均有所下 降；负债端成本率为1.98%，同比-30bp，其中存款成本率为1.96%，同比-25bp，主要受益于多轮下调存 款利率以及监管部门对高息揽储行为的整治，预计负债端成本压降将继续显效。 事件：成都银行发布2025年半年报。2025年上半年，成都银行实现营业收入122.70亿元，同比+5.91%； 归属于母公司股东的净利润66.17亿元，同比+7.29%；基本每股收益1.57元；加权平均净资产收益率 7.94%。 点评： 2025Q2 业绩增速有所提升，净利息收入增长显著提速。2025 年上半年，成都银行实现营业收入122.70 亿元，同比+5.91%，其中2025Q2 增速为+8.51%，增速环比提升5.34 个百分点；归属于母公司股东的净 利润66.17亿元，同比+7.29%，其中2025Q2 增速 ...

宣传队伍进社区，消保宣传更贴心。活动当天，该行分管行长亲自带队，与支行消保专员、青年员工一同来到悦来社区党群服务中心。该行工作人员用通俗 易懂的语言向社区居民们介绍了当前常见的金融诈骗手段，并提醒大家："现在诈骗花样多，咱们老百姓一定要提高警惕，凡是让转账、给验证码的，一定 要先核实！"亲切的讲解让现场居民频频点头。 案例+互动，防骗知识入脑入心。为了让此次宣传活动更接地气，该行工作人员精心准备了"以案说险"环节。消保专员小苏用本地方言模拟诈骗电话："'大 姨，我是银行客服，您账户有风险，得赶紧转钱到安全账户！'——这种话您信吗？"台下大爷大妈们立刻回应："不信！肯定是骗子！"现场笑声不断，互动 热烈。针对老年人容易遭遇的"保健品投资""养老金诈骗"等骗局，该行工作人员还通过情景剧表演的方式，生动还原诈骗过程，并手把手教居民如何识别和 应对。一位阿姨感慨道："原来骗子的话术这么有套路，今天可算学明白了！" 近日，民生银行东营分行营业部在分管行长的带领下，走进悦来社区开展金融消费者权益保护宣传活动，为中老年居民送上实用的防诈骗知识和金融安全技 能，赢得社区居民的一致好评。 手把手教学，金融服务更暖心。除了防诈骗 ...

暮色映照紫禁城，金融润泽夕阳红。当越来越多的银发身影从容漫步在城市的街头巷尾，养老金融的社 会价值和重要意义不言而喻。让金融活水润泽养老事业沃土，中国农业银行北京市分行（以下简称"农 行北京分行"）秉承"让更多老年人共享改革发展成果"初心，依托"3+2"养老金融服务体系，在支持构建 多层次养老保险体系、扶持养老产业发展、加强适老化金融服务等领域深耕细作，不断丰富养老金融产 品和服务供给。从社保业务办理的"最后一公里"到智慧助餐的"刷脸结算"，从养老院建设的资金支持到 普及金融知识的"乡村快闪"，农行北京分行用专业与温情编织起一张覆盖"老有所养、老有所依、老有 所乐、老有所安"的金融保障网，在首都大地上描绘出一幅"京"彩晚年的幸福画卷。 三柱鼎立"夯基石" 为了让更多人享受到政策红利，农行北京分行精心编制《养老金批量开户全流程操作手册》，通过集中 培训、线下辅导等方式提升网点服务能力。目前，该行可提供储蓄、理财、基金等700余款养老财富管 理产品，从稳健型存款到多元化投资组合，满足不同年龄段、不同风险偏好人群的需求。 此外，农行北京分行还建立和完善养老金融上门服务体系，不断满足个人养老差异化需求。围绕政务机 关 ...

图表1：六大行存款到期分布（截至年末时点数据，万亿元） 资料来源： iFind ，申万宏源研究 存款利率下降， 钱可能会去哪？ 2025年5月降息后，以工行为例，1年、2年、3年存款挂牌利率分别为0.95%，1.05%，1.25%。 2025年是存款到期再配置高峰期，存款重定价面临利率断崖式回落。六大行共有52.4万亿元左右 的存款到期，粗略估算存款类金融机构在2025年约有108.3万亿元的存款到期。 资料来源：六大行年报，申万宏源研究 图表2：2025年5月工行存款挂牌利率与2022年9月对比（%) 2022年以来房地产、类固收资产收益率加速回落，沪深300股息率开始高于无风险利率，目前差 距还在拉大，权益资产收益率优势凸显。 资料来源： Wind ，申万宏源研究 图表5：A股股息率已经明显高于无风险利率 资料来源： Wind ，申万宏源研究 图表3：2025年是存款到期再配置高峰期， 存款重定价面临利率断崖式回落 本轮存款搬家有什么不一样？ | | | | | 2025年5月监管引导存款利率调整,各期限存款下调幅度(bps) | | | | 1年内重定价定期存 | 1年内重定价定 期存款占总存款 | | ...

Core Viewpoint - The A-share market is experiencing a bullish trend, with the Shanghai Composite Index rising 0.83% on August 15, surpassing the 3700-point mark, reaching a nearly four-year high [1]. Group 1: Deposit Migration - The topic of "deposit migration" has gained attention as the bull market heats up and July financial statistics are released. In July, RMB deposits increased by 500 billion, with a year-on-year increase of 1.3 trillion. However, household deposits decreased by 1.1 trillion, a year-on-year decline of 780 billion [2]. - Non-bank deposits surged by 2.14 trillion in July, reflecting a year-on-year increase of 1.39 trillion. This trend indicates a shift of household savings towards financial products, likely influenced by the recent "slow bull" market [2][3]. - Analysts suggest that the "deposit migration" phenomenon may have begun, driven by changes in asset allocation, improved investment sentiment, and a better risk-reward ratio. This could lead to significant inflows into the stock market, providing ongoing financial support [2][3]. Group 2: Market Sentiment and New Investors - The number of new stock accounts opened in July reached 1.9636 million, a year-on-year increase of 70.54% and a month-on-month increase of 19.27%, indicating heightened interest in the stock market [7]. - New investors are actively participating in the market, with individuals expressing excitement about potential investment opportunities and sharing their experiences on social media platforms [9][10]. - The current market environment has led to a shift in focus for some individuals, with stock trading becoming a significant part of their daily lives and emotional experiences [11].

Core Viewpoint - Jiangyin Bank is focusing on digital transformation and increasing investments in green finance and inclusive finance while maintaining stable financial performance despite recent leadership changes [1] Financial Performance - For the first half of 2025, Jiangyin Bank reported operating revenue of 2.401 billion yuan, a year-on-year increase of 10.45% [1] - The net profit attributable to shareholders reached 846 million yuan, reflecting a year-on-year growth of 16.63% [1] - As of the end of June, the non-performing loan ratio stood at 0.86%, unchanged from the beginning of the year, while the provision coverage ratio improved to 381.22% [1] Market Activity - On August 15, 2025, Jiangyin Bank's stock price was 4.63 yuan, down 0.64% from the previous trading day [1] - The trading volume for the day was 336,000 hands, with a transaction value of 155 million yuan and a price fluctuation of 2.36% [1] - On the same day, there was a net inflow of main funds amounting to 3.8418 million yuan, with a cumulative net inflow of 8.9319 million yuan over the past five days [1] Strategic Focus - Jiangyin Bank is actively pursuing digital transformation and optimizing its credit structure [1] - The bank is increasing its focus on traditional banking services such as deposits, loans, settlement, and wealth management [1]

Group 1 - The stock price of Changshu Bank closed at 7.62 yuan on August 15, 2025, down 0.04 yuan or 0.52% from the previous trading day [1] - The bank's opening price was 7.69 yuan, with a highest price of 7.70 yuan and a lowest price of 7.46 yuan, with a trading volume of 792,479 shares and a total transaction amount of 599 million yuan [1] - Changshu Bank is a regional commercial bank headquartered in Jiangsu, focusing on serving the county economy, offering traditional banking services such as deposits, loans, settlements, and wealth management, with a differentiated advantage in small and micro enterprise financial services [1] Group 2 - The social security fund has held shares in Changshu Bank for 30 consecutive quarters since Q1 2018, with the latest holdings involving four social security fund combinations totaling 278 million shares, accounting for 8.38% of the circulating shares [1] - As of the end of Q2, the social security fund's shareholding decreased slightly by 0.57% quarter-on-quarter, but it remains one of the bank stocks with the highest proportion of social security fund holdings [1] - On August 15, the net outflow of main funds from Changshu Bank was 10.69 million yuan, with a cumulative net outflow of 29.12 million yuan over the past five days [2]

Group 1 - The core viewpoint of the news is the issuance of the "Opinions on Strengthening Financial Services for Rural Reform and Promoting Comprehensive Rural Revitalization" by the People's Bank of China and the Ministry of Agriculture and Rural Affairs, which aims to enhance financial support for small farmers and new agricultural business entities [1][2] - The "Opinions" emphasize the need to expand credit loans and first-time loans for small farmers, addressing their financing challenges due to lack of collateral and credit history, thereby lowering financing barriers and costs [1] - The document highlights the importance of family farms and farmers' cooperatives in leading moderate-scale agricultural operations and proposes increased financial support for these entities to enhance their production standards and operational scale [1] Group 2 - The "Opinions" propose implementing policies such as entrepreneurial guarantee loans to support returning entrepreneurs, which will help create more job opportunities and increase farmers' income [2] - It emphasizes the need for innovative agricultural supply chain financial models to address the short supply chain and low added value issues in agriculture, encouraging core enterprises to support financing for various agricultural entities [2] - The document also suggests enriching the supply of financial products like bonds and wealth management tools to increase the property income of rural residents and new citizens [2] Group 3 - The successful implementation of these financial measures requires collaboration among government, banks, enterprises, and farmers to ensure effective delivery of financial services and strengthen the foundation for rural revitalization [3]

Group 1 - The stock price of Jiangsu Bank closed at 11.69 yuan on August 6, 2025, down 0.60% from the previous trading day, with a trading range of 1.96% and a transaction volume of 891,556 hands, amounting to 1.042 billion yuan [1] - Jiangsu Bank is a significant urban commercial bank in Jiangsu Province, primarily engaged in traditional banking services such as deposits and loans, settlement, and bill discounting, while also involved in bond underwriting and wealth management [1] - Jiangsu Bank has been active in issuing "perpetual bonds" this year, ranking among the top regional banks in Jiangsu in terms of issuance scale, with a total of 42 "perpetual bonds" issued by small and medium-sized banks nationwide as of August 5 [1] Group 2 - On August 6, Jiangsu Bank saw a net inflow of main funds amounting to 8.9223 million yuan, with a cumulative net inflow of 146 million yuan over the past five trading days, indicating sustained investor interest in the stock [1]

Group 1 - The stock price of Chongqing Rural Commercial Bank (渝农商行) was reported at 6.91 yuan as of August 6, 2025, remaining unchanged from the previous trading day's closing price [1] - The bank's opening price on the same day was 6.91 yuan, with a highest price of 6.94 yuan and a lowest price of 6.83 yuan, resulting in a trading volume of 430,484 shares and a transaction amount of 297 million yuan [1] - Chongqing Rural Commercial Bank is a significant rural commercial bank in the Chongqing region, offering traditional banking services such as deposits, loans, settlements, and wealth management, while also actively expanding into retail banking and inclusive finance [1] Group 2 - On the evening of August 6, the bank announced that its fifth board of directors had approved multiple proposals during its 59th meeting, although specific details of the proposals were not disclosed [1] - In terms of capital flow, on August 6, the net inflow of main funds was 19.29 million yuan, with a cumulative net inflow of 91.57 million yuan over the past five days [1]