Recently, the 2025 annual performance reports of A-share listed banks have been released intensively. As of January 29th, 10 listed banks have disclosed their 2025 annual performance reports, including 4 joint-stock banks, 5 city commercial banks, and 1 rural commercial bank. Overall, by 2025, the net profit attributable to the parent company of the 10 listed banks mentioned above will all achieve year-on-year growth, with a steady increase in asset size. The growth rate of loan balances in key areas of many banks is impressive, even reaching double digits; In addition, the asset quality of 10 banks is stable, and although the provision coverage ratio has generally decreased, the risk buffering capacity is sufficient. It is reported that the 10 banks that have disclosed their performance reports for the year 2025 are China Merchants Bank, CITIC Bank, Industrial Bank, Shanghai Pudong Development Bank, Ningbo Bank, Nanjing Bank, Hangzhou Bank, Qingdao Bank, Xiamen Bank, and Sunac Bank, all of which have achieved growth in net profit. Specifically, among the four joint-stock banks, China Merchants Bank ranked first with a net profit attributable to shareholders of 150.181 billion yuan, a year-on-year increase of 1.21%; The net profits attributable to the parent company of Industrial Bank and CITIC Bank were 77.469 billion yuan and 70.618 billion yuan, respectively, with year-on-year growth rates of 0.34% and 2.98%; Shanghai Pudong Development Bank has performed outstandingly, with a net profit attributable to shareholders of RMB 50.017 billion, a year-on-year increase of 10.52%, leading the growth rate among joint-stock banks. In terms of revenue, China Merchants Bank, Industrial Bank, and Shanghai Pudong Development Bank achieved year-on-year growth of 337.532 billion yuan, 212.741 billion yuan, and 173.964 billion yuan respectively, with only China CITIC Bank experiencing a slight decrease in revenue compared to the same period last year. Six city commercial banks and rural commercial banks that disclosed their performance reports for the year 2025 both achieved a year-on-year increase in revenue and net profit attributable to shareholders. Specifically, the revenue of Bank of Ningbo, Bank of Nanjing, Bank of Hangzhou, Bank of Qingdao, Bank of Xiamen, and Agricultural Bank of China were 71.968 billion yuan, 55.54 billion yuan, 38.799 billion yuan, 14.573 billion yuan, 5.856 billion yuan, and 4.191 billion yuan, respectively; The net profits attributable to the parent company were 29.333 billion yuan, 21.807 billion yuan, 19.03 billion yuan, 5.188 billion yuan, 2.634 billion yuan, and 2.043 billion yuan, respectively. Among them, Nanjing Bank had the highest revenue growth rate, with a year-on-year increase of 10.48%; The net profit attributable to shareholders of Hangzhou Bank and Qingdao Bank showed impressive growth rates, reaching 12.05% and 21.66% respectively, both achieving double-digit growth. Currently, listed banks are shifting from scale expansion to relying on refined management and financial resilience to achieve high-quality development. ”Tian Lihui, a finance professor at Nankai University, told a reporter from Securities Daily that the operating data of listed banks that have disclosed their performance reports show three major characteristics: first, profits are generally growing positively but structurally differentiated, with city commercial banks leading the growth rate and demonstrating regional vitality; Secondly, the steady expansion of asset scale is synchronized with the consolidation of asset quality, and the ability to offset risks remains stable; Thirdly, the financial strategy is proactive and flexible. Listed banks generally smooth profits by moderately releasing high provisions in the early stage, providing support for performance growth. High quality listed small and medium-sized banks are deeply rooted in the regional economy, relying on local industries and inclusive finance to achieve dual growth in scale and profitability, highlighting the overall operational resilience of the industry. ”Ding Zhenyu, Senior Investment Advisor at Jufeng Investment Consulting, told reporters. The total assets of city commercial banks have grown rapidly. In terms of asset size, all 10 listed banks have achieved steady growth. Among them, many joint-stock banks have reached a new level of asset size, and the strong growth rate of city commercial banks has become a highlight. It is reported that listed banks continue to increase their credit investment, especially in key areas, becoming the core driving force for asset growth. Data shows that as of the end of 2025, the total assets of four joint-stock banks, China Merchants Bank, Industrial Bank, CITIC Bank, and Shanghai Pudong Development Bank, have achieved steady growth, reaching 13.07 trillion yuan, 11.09 trillion yuan, 10.13 trillion yuan, and 10.08 trillion yuan respectively. Among them, the total assets of China CITIC Bank and Shanghai Pudong Development Bank have both entered the 10 trillion yuan camp, while the total assets of Industrial Bank have exceeded 11 trillion yuan. In terms of the growth rate of asset scale of city commercial banks, as of the end of 2025, the total assets of Ningbo Bank, Nanjing Bank, Hangzhou Bank, Qingdao Bank, and Xiamen Bank were 3.63 trillion yuan, 3.02 trillion yuan, 2.36 trillion yuan, 814.96 billion yuan, and 453.099 billion yuan, respectively, with year-on-year growth rates of 16.11%, 16.63%, 11.96%, 18.12%, and 11.11%. The strong growth in loan disbursement is an important support for the asset expansion of city commercial banks. According to the performance report data, the total loan (or loan and advance) growth rates of Ningbo Bank, Hangzhou Bank, and Xiamen Bank reached 17.43%, 14.33%, and 18.39% respectively, all higher than their own total asset growth rates; The growth rate of loan balances of Nanjing Bank and Qingdao Bank is consistent with the growth rate of total assets. The loan growth rate of several listed banks in key areas such as technology, green, and manufacturing is significantly higher than the average loan growth rate. For example, as of the end of 2025, the balance of green and technology loans of Xiamen Bank has increased by 68.55% and 44.55% respectively compared to the end of 2024, while the balance of manufacturing, technology, and green loans has increased by 22.25%, 23.44%, and 22.75% respectively compared to the end of 2024; The balance of technology finance, green finance, and inclusive small and micro loans of Nanjing Bank increased by 19.49%, 30.08%, and 17.46% respectively compared to the end of 2024. Overall stable asset quality: In terms of asset quality, the asset quality of the 10 listed banks remains stable, and the non-performing loan ratio remains at a low level. As of the end of 2025, the non-performing loan ratio range of 10 banks is 0.76% to 1.26%, among which Ningbo Bank and Hangzhou Bank have the lowest non-performing loan ratio, both at 0.76%; China Merchants Bank has a non-performing loan ratio of 0.94%. Specifically, the non-performing loan ratios of China Merchants Bank, China CITIC Bank, Shanghai Pudong Development Bank, Qingdao Bank, and Su Nong Bank have decreased compared to the end of 2024, with Qingdao Bank experiencing the most significant decline. The non-performing loan ratio decreased from 1.14% at the end of 2024 to 0.97%, a decrease of 0.17 percentage points. In terms of provision coverage, as of the end of 2025, except for Shanghai Pudong Development Bank and Qingdao Bank, the provision coverage of the other eight listed banks has decreased compared to the end of 2024, which may continue the trend of banks releasing provisions to repay net profits in recent years. Ding Zhenyu believes that the widespread decline in the provision coverage ratio of listed banks is a reasonable choice for banks to actively adjust. The current non-performing loan ratio of listed banks is at a low level, with a solid foundation in asset quality, and the overall provision coverage ratio is still far higher than regulatory requirements, indicating sufficient risk buffering. Banks can effectively hedge the profit pressure caused by the narrowing of interest rate spreads by moderately releasing provisions to feed back net profits, while retaining profits can support subsequent credit lending and serve the real economy. (New Society)