In the first half of 2025, among the 17 listed city commercial banks, 14 banks achieved dual growth in both operating revenue and net profit attributable to shareholders, with 3 banks achieving double-digit growth in net profit attributable to shareholders. From an investment income perspective, two city commercial banks posted growth rates exceeding 100%. Two banks had real estate loan ratios exceeding 20%.
In the first half of 2025, A-share listed city commercial banks delivered a solid mid-year performance report.
According to analysis, in the first half of 2025, 17 listed city commercial banks collectively achieved operating revenue of 273.291 billion yuan, up 5.34% year-on-year; and collectively realized net profit attributable to shareholders of 118.307 billion yuan, up 7.04% year-on-year, equivalent to daily earnings of 6.48 billion yuan. Both revenue and net profit growth rates were stronger than the same period last year.
Among the 17 city commercial banks, 14 achieved dual growth in both revenue and net profit attributable to shareholders, with Bank Of Hangzhou Co.,Ltd., Qilu Bank, and Bank of Qingdao achieving double-digit growth in net profit attributable to shareholders. Meanwhile, Xiamen Bank and Bank Of Guiyang Co.,Ltd. saw both revenue and net profit decline, while Lanzhou Bank achieved profit growth without revenue growth.
From an asset quality perspective, all 17 city commercial banks maintained non-performing loan ratios below 2%, remaining generally stable. Among them, Lanzhou Bank, Zhengzhou Bank, Bank Of Guiyang Co.,Ltd., Xi'an Bank, and Bank of Beijing ranked in the top five for non-performing loan ratios at 1.81%, 1.76%, 1.70%, 1.60%, and 1.30% respectively.
As of the end of the first half of 2025, the 17 city commercial banks had a combined asset scale of 30.23 trillion yuan, up 10.69% from the end of the previous year; total loans of 14.89 trillion yuan, up 10% from the end of the previous year; and total deposits of 17.52 trillion yuan, up 10.01% from the end of the previous year.
Net Profit: 15 Up, 2 Down 3 Achieve Double-Digit Growth
In the first half of 2025, the overall performance of the 17 A-share city commercial banks was better than the same period last year.
Among the 17 city commercial banks, 14 achieved dual growth in revenue and net profit attributable to shareholders, 2 saw dual declines, and one saw revenue decline but net profit growth.
Among the banks with dual growth, Bank Of Hangzhou Co.,Ltd., Qilu Bank, and Bank of Qingdao achieved double-digit growth in net profit attributable to shareholders.
Data shows that in the first half of 2025, Bank Of Hangzhou Co.,Ltd., Qilu Bank, and Bank of Qingdao achieved operating revenues of 20.093 billion yuan, 6.782 billion yuan, and 7.662 billion yuan respectively, up 3.90%, 5.76%, and 7.50% year-on-year; and realized net profits attributable to shareholders of 11.662 billion yuan, 2.734 billion yuan, and 3.065 billion yuan respectively, up 16.66%, 16.49%, and 16.05% year-on-year.
Xiamen Bank and Bank Of Guiyang Co.,Ltd. saw both revenue and net profit decline. Data shows that in the first half of 2025, Xiamen Bank and Bank Of Guiyang Co.,Ltd. achieved operating revenues of 2.689 billion yuan and 6.501 billion yuan respectively, down 7.02% and 12.22% year-on-year; and realized net profits attributable to shareholders of 1.158 billion yuan and 2.474 billion yuan respectively, down 4.59% and 7.20% year-on-year.
Lanzhou Bank achieved operating revenue of 3.921 billion yuan in the first half, down 1.86% year-on-year; and realized net profit attributable to shareholders of 952 million yuan, up 0.87% year-on-year, making it the bank with profit growth but no revenue growth.
In terms of absolute net profit attributable to shareholders, in the first half of 2025, Bank of Jiangsu, Bank of Beijing, and Bank of Ningbo ranked in the top three with 20.238 billion yuan, 15.053 billion yuan, and 14.772 billion yuan respectively. In terms of weighted return on net assets, Bank Of Hangzhou Co.,Ltd., Bank of Chengdu, and Bank of Qingdao ranked in the top three at 9.5%, 7.94%, and 7.88% respectively.
From a net interest margin perspective, all 17 city commercial banks faced pressure, with only three showing growth compared to the end of the previous year. These three were Xi'an Bank, Qilu Bank, and Bank of Chongqing, with net interest margins of 1.7%, 1.53%, and 1.39% respectively, up 0.34, 0.02, and 0.04 percentage points from the end of the previous year.
Bank of Changsha, Bank of Nanjing, and Bank of Jiangsu ranked in the top three for net interest margins at 1.87%, 1.86%, and 1.78% respectively.
6 Banks Have Non-Interest Income Ratio Above 30% 2 Banks Double Investment Income Growth
From a non-interest income ratio perspective, 6 city commercial banks reached above 30%, namely Bank of Nanjing, Bank of Shanghai, Bank Of Hangzhou Co.,Ltd., Bank of Suzhou, Bank of Ningbo, and Bank of Qingdao, with non-interest income ratios of 45.06%, 39.83%, 34.84%, 34.46%, 30.77%, and 30.03% respectively. Bank of Nanjing ranked first.
Lanzhou Bank, Bank of Chengdu, and Zhengzhou Bank ranked in the bottom three, with non-interest net income ratios of 22.75%, 20.40%, and 20.02% respectively. Overall, all 17 city commercial banks maintained ratios above 20%.
From fee and commission income perspective, 5 city commercial banks maintained growth above 10%, namely Bank of Changsha, Bank of Beijing, Qilu Bank, Bank Of Hangzhou Co.,Ltd., and Xiamen Bank, with fee and commission incomes of 968 million yuan, 2.508 billion yuan, 817 million yuan, 2.337 billion yuan, and 198 million yuan respectively, up 25.59%, 20.40%, 13.64%, 10.78%, and 10.49% year-on-year respectively.
6 city commercial banks saw declines, namely Bank of Shanghai, Zhengzhou Bank, Bank of Qingdao, Lanzhou Bank, Bank of Chongqing, and Bank of Chengdu, with fee and commission incomes of 2.06 billion yuan, 234 million yuan, 807 million yuan, 153 million yuan, 365 million yuan, and 248 million yuan respectively, down 5.96%, 11.94%, 13.28%, 13.49%, 28.62%, and 45.15% year-on-year respectively. Bank of Chengdu had the largest decline.
From net investment income perspective, two city commercial banks posted growth rates exceeding 100%. One was Bank of Changsha, with net investment income of 3.184 billion yuan in the first half, up 118.82% year-on-year. The other was Zhengzhou Bank, with investment income of 1.229 billion yuan in the first half, up 111.10% year-on-year.
Additionally, Bank of Qingdao, Xi'an Bank, Lanzhou Bank, and Bank Of Guiyang Co.,Ltd. also showed high growth rates, with net investment incomes of 1.509 billion yuan, 1.012 billion yuan, 932 million yuan, and 1.739 billion yuan respectively in the first half, up 93.96%, 76.92%, 73.23%, and 70.32% year-on-year respectively.
8 Banks Achieve Double-Digit Loan Growth Bank of Jiangsu Fastest in Total Asset Growth
In the first half of 2025, the 17 listed city commercial banks had combined total loans of 14.89 trillion yuan, up 10% from the end of the previous year.
Among them, the top 5 banks in loan growth were Xi'an Bank, Bank of Jiangsu, Bank of Chongqing, Bank of Ningbo, and Bank of Chengdu, with total loans of 291.687 billion yuan, 2.43001 trillion yuan, 500.67 billion yuan, 1.673213 trillion yuan, and 834.628 billion yuan respectively, up 22.94%, 15.98%, 13.63%, 13.36%, and 12.40% from the end of the previous year respectively. Both Bank of Jiangsu and Bank of Ningbo had loan scales exceeding one trillion yuan.
Additionally, Bank of Changsha, Bank of Nanjing, and Qilu Bank also maintained loan growth above 10%. That is, among the 17 city commercial banks, 8 achieved double-digit loan growth.
It's worth noting that Xi'an Bank's significant loan growth mainly came from substantial growth in corporate loans. In the first half of 2025, its corporate loans and advances totaled 200.912 billion yuan, up 27.07% from the end of the previous year. Among corporate loans, leasing and business services loans ranked first with total loans of 63.426 billion yuan, up 56.26% from the end of the previous year.
Additionally, Bank of Shanghai had total loans of 1.436984 trillion yuan, up only 2.22% from the end of the previous year, ranking second to last among the 17 city commercial banks.
In the first half of 2025, the 17 listed city commercial banks had combined total deposits of 17.52 trillion yuan, up 10.01% from the end of the previous year.
Among them, the top 5 banks in deposit growth were Bank of Jiangsu, Bank of Chongqing, Bank of Ningbo, Bank of Chengdu, and Bank of Suzhou, with total deposits of 2.543769 trillion yuan, 544.136 billion yuan, 2.076414 trillion yuan, 983.481 billion yuan, and 462.752 billion yuan respectively, up 20.22%, 14.77%, 13.07%, 11.02%, and 10.98% from the end of the previous year respectively.
Additionally, Bank of Shanghai and Bank Of Guiyang Co.,Ltd. ranked in the bottom two for deposit growth among city commercial banks, with total deposits of 1.781366 trillion yuan and 433.77 billion yuan respectively, up 4.17% and 3.47% from the end of the previous year respectively.
From total asset growth perspective, 6 city commercial banks achieved double-digit growth, namely Bank of Jiangsu, Bank of Chongqing, Bank of Beijing, Xi'an Bank, Bank of Ningbo, and Bank of Nanjing, up 21.16%, 14.79%, 12.53%, 12.23%, 11.04%, and 11.96% from the end of the previous year respectively. Among them, Bank of Jiangsu not only had the largest scale but also the fastest growth.
7 Banks Have NPL Ratios Below 1% 3 Banks Announce Interim Dividends
From an asset quality perspective, all 17 city commercial banks maintained non-performing loan ratios below 2%, remaining generally stable.
Among them, Lanzhou Bank, Zhengzhou Bank, Bank Of Guiyang Co.,Ltd., Xi'an Bank, and Bank of Beijing ranked in the top five for non-performing loan ratios at 1.81%, 1.76%, 1.70%, 1.60%, and 1.30% respectively.
Bank of Nanjing, Bank of Jiangsu, Bank of Suzhou, Xiamen Bank, Bank of Ningbo, Bank Of Hangzhou Co.,Ltd., and Bank of Chengdu all had non-performing loan ratios below 1%, at 0.84%, 0.84%, 0.83%, 0.83%, 0.76%, 0.76%, and 0.66% respectively.
From provision coverage ratio perspective, Bank Of Hangzhou Co.,Ltd., Bank of Chengdu, Bank of Suzhou, Bank of Ningbo, and Qilu Bank ranked in the top five with provision coverage ratios of 520.89%, 452.65%, 437.91%, 374.16%, and 343.24% respectively.
Bank Of Guiyang Co.,Ltd., Lanzhou Bank, Xi'an Bank, Bank of Beijing, and Zhengzhou Bank had relatively lower provision coverage ratios at 238.64%, 207.89%, 205.7%, 195.74%, and 179.2% respectively.
Overall, all 17 city commercial banks saw their non-performing loan ratios decline compared to the end of the previous year, with some excellent city commercial banks maintaining relatively low NPL ratios that remained basically flat compared to year-end. Provision coverage ratios generally declined across the board, with only a few city commercial banks with relatively low base levels showing growth, such as Bank of Qingdao, Qilu Bank, and Xi'an Bank.
It's worth noting that Xiamen Bank's provision coverage ratio declined significantly, with its provision coverage ratio at 321.67% in the first half of 2025, down 70.28 percentage points from the end of the previous year.
From dividend perspective, among the 17 city commercial banks, Bank of Ningbo, Bank of Shanghai, and Bank of Changsha announced interim dividends. Bank of Ningbo plans to distribute 3 yuan per 10 shares (including tax), with total dividends of 1.981 billion yuan; Bank of Shanghai plans to distribute 3 yuan per 10 shares, with total dividends of 4.263 billion yuan; Bank of Changsha plans to distribute 2 yuan per 10 shares, with total dividends of 804 million yuan.
Additionally, Bank of Jiangsu also stated at its interim results announcement that shareholders had approved the 2025 interim profit distribution proposal in 2024, with the specific plan to be determined by the board of directors based on the company's profitability, cash flow situation, and medium to long-term development plans, with relevant plans to be announced separately once determined.
Bank Of Guiyang Co.,Ltd. Has Real Estate Loan Ratio Above 20% Bank of Nanjing Has Lowest Real Estate Loan Ratio
In the first half of 2025, most city commercial banks saw their real estate loan ratios decline.
As of the end of the first half of 2025, Bank Of Guiyang Co.,Ltd., Lanzhou Bank, and Bank of Shanghai ranked in the top three for real estate loan ratios at 21.91%, 21.85%, and 19.77% respectively. Zhengzhou Bank, Bank of Chongqing, and Bank of Nanjing had relatively low real estate loan ratios, ranking in the bottom three at 13.13%, 9.61%, and 8.99% respectively.
It's worth noting that Bank Of Guiyang Co.,Ltd.'s real estate loan ratio increased compared to the end of the previous year. Data shows that in the first half of 2025, the bank's real estate loan ratio was 21.91%, up 1.13 percentage points from the end of the previous year. Among them, corporate real estate loans totaled 52.763 billion yuan, up 4.168 billion yuan from the end of the previous year; personal housing loans totaled 22.473 billion yuan, up 602 million yuan from the end of the previous year.
It's notable that Bank Of Guiyang Co.,Ltd.'s real estate loan ratio has risen from 14.50% in 2021 to 20.78% in 2024 over the past few years.
From total real estate loan amounts, Bank of Beijing ranked first with total real estate loans of 456.192 billion yuan. Bank of Jiangsu and Bank of Shanghai followed with total real estate loan amounts of 325.57 billion yuan and 284.1 billion yuan respectively. Bank of Chongqing, Xi'an Bank, and Xiamen Bank had relatively low total real estate loan amounts at 47.936 billion yuan, 40.988 billion yuan, and 29.022 billion yuan respectively.
From personal housing loan ratios, Bank of Beijing, Qilu Bank, and Bank of Qingdao ranked in the top three at 13.87%, 13.67%, and 12.59% respectively.
Overall, most city commercial banks' real estate loans were primarily personal housing loans, accounting for over 80% of the total, with relatively low non-performing rates below 2%. Only a few city commercial banks, such as Zhengzhou Bank, had relatively high real estate loan non-performing rates, with its real estate non-performing loan rate at 4.32% in the first half of 2025.
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