中国银行业：2025 年第三季度业绩前瞻 - 净息差压力缓解且手续费收入强劲，为未来表现优异奠定基础-China Banks_ 3Q25 earnings preview_ eased NIM pressure & strong fee income, set stage for outperformance ahead

Vi e w p o i n t | 15 Oct 2025 11:45:46 ET │ 11 pages China Banks 3Q25 earnings preview: eased NIM pressure & strong fee income, set stage for outperformance ahead CITI'S TAKE We expect covered China banks' 3Q25E revenue growth of +1.4% y-y on smaller NIM compression and decent fee income, offsetting by muted loan growth and weak trading gains. With stable asset quality, we expect banks to release provisions and buffer earning growth (+3.0% y-y in 3Q25E, vs. +0.8% y-y in 1H25). We expect all large banks' 9M ...