As a leading city commercial bank in the Yangtze River Delta region, Bank Of Nanjing Co.,Ltd. (601009.SH) has reported continued growth in its performance. On the evening of January 22, the bank released its 2025 performance forecast, revealing annual operating revenue of 55.54 billion yuan, a year-on-year increase of 10.48%, and a net profit attributable to shareholders of 21.807 billion yuan, up 8.08% compared to the previous year. It is noteworthy that the bank's operating revenue and net profit attributable to shareholders have achieved dual growth for eight consecutive years since 2018. During this period, operating revenue increased by 123.6%, while net profit attributable to shareholders rose by 125.56%. Significantly, after approaching the 3 trillion yuan mark in total assets at the end of the third quarter of 2025, Bank of Nanjing's total assets surpassed 3 trillion yuan for the first time by the end of 2025, reaching 3.02 trillion yuan. Concurrently, the bank's loans and deposits grew by 13.4% and 11.7% year-on-year, respectively, both maintaining double-digit growth, which drove the full-year net interest income to increase by 31.08% to 34.902 billion yuan. While total assets expanded, Bank of Nanjing's non-performing loan (NPL) ratio remained stable at a low level of 0.83%, unchanged from the figure at the end of the third quarter of 2025.
Net interest income surged by over 30%. As a leading listed city commercial bank in Jiangsu Province, Bank of Nanjing's full-year operating indicators were outstanding, with revenue and net profit maintaining a high growth trajectory. According to the performance forecast, Bank of Nanjing achieved operating revenue of 55.54 billion yuan in 2025, a year-on-year increase of 10.48%. This growth rate was 1.71 percentage points higher than the 8.79% year-on-year growth recorded in the first three quarters of 2025, indicating a clear acceleration. The net profit attributable to shareholders was 21.807 billion yuan, an increase of 8.08% year-on-year, matching the growth rate of the first three quarters and demonstrating a steady pace of expansion. The growth rates for both operating revenue and net profit attributable to shareholders firmly place the bank in the "first tier" among listed banks. It is noteworthy that in 2017, the company's operating revenue experienced a brief decline, falling 6.69% year-on-year to 24.839 billion yuan, while net profit attributable to shareholders was close to the 10 billion yuan mark at 9.668 billion yuan. Over the subsequent eight years, the bank's operating revenue and net profit attributable to shareholders have achieved consecutive dual growth. Rough calculations show that over these eight years, Bank of Nanjing's operating revenue grew by 123.6%, and its net profit attributable to shareholders increased by 125.56%. Notably, Bank of Nanjing is often referred to as the "Bond King" in the market. Leveraging the abundant funds in the Yangtze River Delta region and flexible market operations, the bank's financial investment scale has grown rapidly, soaring from 300 billion yuan in 2017 to 1.3 trillion yuan by the third quarter of 2025, accounting for 43.9% of its total assets—far exceeding the average level of city commercial banks during the same period. From 2020 to 2024, Bank of Nanjing's investment income increased from 4.994 billion yuan to 13.618 billion yuan. Investment income even reached 14.814 billion yuan in 2023. Income from bond investments, including investment returns and gains/losses from changes in fair value, has consistently pushed the proportion of non-interest income to a relatively high level within the industry. In 2024, the bank's non-interest income accounted for 47.04% of its operating revenue, significantly higher than the 30% average for city commercial banks. However, in 2025, the company's interest income began to drive performance, becoming a significant factor in Bank of Nanjing's growth. In 2025, the bank achieved a net interest income of 34.902 billion yuan, a surge of 31.08% year-on-year. Its share of operating revenue increased from 52.96% the previous year to 62.84%. It is important to mention that net interest margin (NIM) remains a common pressure point for the industry, and Bank of Nanjing is no exception. In the third quarter of 2025, the bank's NIM decreased to 1.23%, a significant drop from 1.94% in 2024. Despite NIM pressure, Bank of Nanjing, through the expansion of its asset scale and optimization of its asset structure, achieved a notable decline in its liability costs. Reportedly, by the end of 2025, the bank's total deposit balance reached 1.67 trillion yuan, an increase of 11.7% year-on-year. Although this growth rate moderated from the 17% level seen in the first three quarters of 2025, it still maintained double-digit growth, with the absolute value remaining high. The full-year increase in deposits was 174.62 billion yuan, 47.85 billion yuan more than the increase in the previous year, demonstrating a significant advantage in deposit growth and providing ample funding sources for asset expansion. Furthermore, Bank of Nanjing's total loan balance reached 1.42 trillion yuan, an increase of 13.37% compared to the end of the previous year. According to the performance forecast, the bank's total assets surpassed the 3 trillion yuan milestone by the end of 2025, reaching 3.02 trillion yuan, a year-on-year increase of 16.6%, marking a new stage in the scale of its assets.
The non-performing loan ratio remained at a low level of 0.83%. On the asset side, Bank of Nanjing precisely directed its credit allocation, achieving improvements in both scale and structure. In 2025, adhering to its fundamental role of serving the real economy, Bank of Nanjing continued to increase the allocation of credit resources. Its asset side demonstrated a positive trend of steady scale expansion and continuous structural optimization. By the end of 2025, the bank's total loan balance reached 1.42 trillion yuan, a year-on-year increase of 13.4%, accounting for 47.13% of total assets, further highlighting the core position of credit assets within its total asset structure. The full-year increase in loans was 167.96 billion yuan, 10.63 billion yuan more than the increase in the previous year, indicating a significantly stronger credit extension effort compared to the prior year. Analyzing the quarterly distribution rhythm, Bank of Nanjing's credit increments showed a pattern of being higher in the first half and lower in the second half. The contribution ratios of the four quarters were 53.4%, 24.4%, 14.5%, and 7.7%, respectively. The first quarter, being a critical period for a strong start in credit extension, saw the bank concentrate its credit resources, laying a solid foundation for business development throughout the year. In terms of credit structure optimization, the bank focused on areas such as technology finance, green finance, and inclusive finance for small and micro enterprises. Data shows that in 2025, the year-end balances for the bank's technology finance, green finance, and inclusive small and micro enterprise loans grew by 19.49%, 30.08%, and 17.46% year-on-year, respectively. These growth rates were substantially higher than the overall loan growth rate of 13.4%, clearly indicating a trend of credit resources tilting towards high-quality development sectors. Simultaneously, the coordinated development of Bank of Nanjing's corporate and retail businesses further solidified the foundation of its asset side. In the corporate segment, both corporate deposits and corporate loans stabilized above the 1 trillion yuan mark. The number of corporate value customers increased by 19.04% compared to the end of the previous year, indicating a continuously broadening customer base. The underwriting volume of non-financial enterprise debt financing instruments for the full year reached 271.35 billion yuan, with the bank maintaining the top market share in Jiangsu Province for eight consecutive years, continuously enhancing the core competitiveness of its corporate business. The financial assets (AUM) of retail customers exceeded 1 trillion yuan, growing by 21.23% from the end of the previous year. The financial assets (AUM) of private banking customers increased by 22.94% from the end of the previous year. The number of retail value customers grew by 27.02% compared to the end of the previous year. The launch of the Mobile Banking App 8.0 saw its user base increase by 29.85% from the end of the previous year. Regarding asset quality, the bank continued its excellent performance, with the NPL ratio stable at a low 0.83%, unchanged from the end of the third quarter of 2025, and remaining below 1% for many consecutive years. Compared to industry data, this indicator is significantly better than the average NPL ratios of 1.84% for city commercial banks and 1.52% for commercial banks overall in the third quarter of 2025, demonstrating extremely strong resilience in asset quality among listed banks. Furthermore, the bank's provision coverage ratio reached 313.31%, indicating sufficient risk absorption capacity and providing a solid defense for stable asset quality. The excellent NPL performance stems from Bank of Nanjing's refined, full-process risk control system. The bank has promoted vertical reform in credit approval and established an intelligent risk control system based on AI and big data, covering dynamic data from 65 core industrial chains. In resolving existing risks, the bank intensified efforts to dispose of non-performing assets through various methods such as market-based transfers and thorough write-offs where necessary, writing off and transferring out over 13.2 billion yuan in non-performing loans in 2024. In managing incremental risks, the bank strengthened forward-looking risk warning, achieving early identification, early intervention, and early resolution. The NPL ratios for both corporate and retail loans showed an optimizing trend, continuously consolidating the foundation of asset quality.
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