中国银行：2025 年上半年业绩预览，三个关键变量

19 August 2025 China Banks Equities 1H25 results preview: three key variables China 2Q25 preview: We expect 2Q25 net profit growth for our covered mainland China banks to improve from 1Q25, driven by smaller-than-expected NIM compression, stable credit costs, and effective cost control. Of the key aspects we monitor, we expect three positive, one negative, and two mixed trends in the coming quarter: Investment thesis: Overall, we expect net profit growth for 2Q25 to be better than that of 1Q25, thanks to in ...