Core Viewpoint - Ping An Bank is undergoing a transformation phase, reporting a decline in revenue and net profit for the first three quarters of 2025, but showing signs of improvement in profit decline rates compared to earlier periods [1][2] Financial Performance - For the first nine months of 2025, Ping An Bank achieved operating revenue of 100.668 billion yuan, a year-on-year decrease of 9.8% [1] - The net profit for the same period was 38.339 billion yuan, down 3.5% year-on-year, with a narrowing decline compared to the first half of the year [1] - As of the end of September, the total assets of the bank were 576.6764 billion yuan, showing a slight decrease compared to the end of June [1] Interest Margin and Non-Interest Income - The net interest margin for the first nine months was 1.79%, down 14 basis points from the same period last year, influenced by declining loan rates and business structure adjustments [1] - Non-interest income from bond investments and other businesses decreased due to market fluctuations [1] Asset Quality - The non-performing loan ratio stood at 1.05% at the end of September, a decrease of 0.01 percentage points from the end of last year [1] - The provision coverage ratio was 229.60%, indicating strong risk compensation capability [1] Cost Control and Efficiency - The bank focused on cost reduction and efficiency improvement, with business and management expenses amounting to 27.649 billion yuan, down 9.6% year-on-year [1] - Credit and other asset impairment losses were 25.989 billion yuan, a decrease of 18.8% year-on-year [1] Liability Management - As of the end of September, the total liabilities were 524.8834 billion yuan, with customer deposits increasing by 0.6% year-on-year [2] - The average interest rate on interest-bearing liabilities was 1.73%, down 47 basis points year-on-year, while the average interest rate on customer deposits was 1.70%, down 43 basis points year-on-year [2] - The bank has been enhancing the absorption of low-cost deposits and adjusting the pace of deposit and interbank liabilities to lower overall funding costs [2]

Core Viewpoint - The article provides a comparative analysis of Jiangsu Bank and Nanjing Bank, highlighting their strengths, market positions, and financial performance, indicating that Jiangsu Bank has outperformed Nanjing Bank in several key financial metrics and is positioned as the largest city commercial bank in China as of mid-2025 [2][45]. Group 1: Background and Structure - Jiangsu Bank was established in January 2007 through the merger of city commercial banks in ten cities in Jiangsu Province, excluding Nanjing [3]. - Nanjing Bank was founded in 1996, evolving from 39 city credit cooperatives and has undergone several name changes and ownership changes, including foreign investments [4][6]. Group 2: Shareholding Structure - Jiangsu Bank's top shareholders include Jiangsu International Trust Co., Ltd. (6.98%) and Jiangsu Phoenix Publishing & Media Group Co., Ltd. (6.93%), both state-owned enterprises [4]. - Nanjing Bank's major shareholders include BNP Paribas (12.93%) and Nanjing Zijin Investment Group Co., Ltd. (10.92%), with significant foreign investment [6]. Group 3: Capital Market - Both banks are listed on the Shanghai Stock Exchange, with Jiangsu Bank listed since August 2016 and Nanjing Bank since 2007 [7][8][9]. Group 4: Operational Coverage - Both banks have achieved full coverage across 13 cities in Jiangsu Province, with Jiangsu Bank having 17 branches and 522 sub-branches, while Nanjing Bank has 16 branches and 289 outlets [11]. Group 5: Subsidiaries - Jiangsu Bank has four subsidiaries, including Su Yin Financial Leasing Co., Ltd. and Su Yin Wealth Management Co., Ltd. [12]. - Nanjing Bank has three subsidiaries and also holds stakes in three other companies, indicating a broader business scope [13]. Group 6: Employee Situation - As of the end of 2024, Jiangsu Bank had 20,780 employees, with 20.70% holding master's degrees, while Nanjing Bank had 18,045 employees, with 30.13% holding master's degrees [14]. Group 7: Financial Performance - In 2024, Jiangsu Bank's total assets reached 395.20 billion, with a net profit of 318.43 billion, while Nanjing Bank's total assets were 259.14 billion, with a net profit of 201.77 billion [15]. - By mid-2025, Jiangsu Bank's total assets increased to 478.85 billion, while Nanjing Bank's reached 290.14 billion, indicating Jiangsu Bank's growth trajectory [15]. Group 8: Long-term Trends - Over the past decade, Jiangsu Bank's total assets have consistently been about 1.5 times larger than those of Nanjing Bank, with both banks showing growth [19]. - Jiangsu Bank's operating income has also consistently exceeded that of Nanjing Bank, with a growing margin from 1.18 times in 2016 to 1.61 times in 2024 [21]. Group 9: Asset Quality - Both banks maintain strong asset quality, with non-performing loan ratios below 0.9% and high provision coverage ratios exceeding 300% [18][34]. - Jiangsu Bank's provision coverage ratio has improved significantly from 192.06% to over 350% [35]. Group 10: Compensation and Benefits - Jiangsu Bank's employee costs have consistently been higher than those of Nanjing Bank, with average salaries of approximately 560,000 and 530,000 respectively [42][43].