银行业利润引擎换挡：对公业务接棒零售成增长新支柱

贸易金融11-06

第十五届中国经贸企业最信赖的金融服务商评选线上投票正式开始！扫描下方二维码，为您支持的金融机构投出宝贵一票。中国人民银行发布的金融统计数据显示，2025年上半年金融机构人民币贷款增加12.92万亿元。分部门看，住户贷款增加1.17万亿元，企（事）业单位贷款增加11.57万亿元。对公信贷成为上半年信贷增长的核心驱动力。一、信贷结构：对公主导增长，零售增速低迷对公信贷接近历史峰值数据来源：同花顺...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251106234441a6e6556a&s=b><strong>贸易金融</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>第十五届中国经贸企业最信赖的金融服务商评选线上投票正式开始！扫描下方二维码，为您支持的金融机构投出宝贵一票。中国人民银行发布的金融统计数据显示，2025年上半年金融机构人民币贷款增加12.92万亿元。分部门看，住户贷款增加1.17万亿元，企（事）业单位贷款增加11.57万亿元。对公信贷成为上半年信贷增长的核心驱动力。一、信贷结构：对公主导增长，零售增速低迷对公信贷接近历史峰值数据来源：同花顺...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251106234441a6e6556a&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0791590937.USD","symbol_name":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" 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7.59%、20.49%、10.59%。利润方面，零售业务的下滑趋势更为严峻。交通银行、邮储银行、平安银行零售利润同比降幅均超过45%，分别为47.69%、47.21%、45.98%；农业银行零售利润同比下降23.59%，建设银行零售利润同比下降19.61%。值得注意的是，工商银行与中信银行零售税前利润虽实现同比大幅增长（工行46.05%、中信109.24%），但均因2024年同期利润基数较低，从利润绝对值及在全行利润中的贡献占比来看，仍处于相对低位，并非零售业务实质回暖的信号。即使是长期占据零售业务龙头地位的招商银行，也未能完全抵御行业寒流。2025年上半年，招商银行零售金融业务营业收入961.93亿元，税前利润 520.36亿元；同期批发金融业务（即对公业务）营业收入703.21亿元，税前利润370.57亿元。尽管零售业务仍为招行贡献了56.59%的营收，但这一占比已回落至2022年的水平，零售业务的增长动能明显减弱。此外，部分上市城商行与农商行的零售业务同样面临挑战。青岛银行上半年零售银行业务营收、利润总额同比分别下降12.48%、14.79%；重庆农商行零售银行业务营业收入降至59.1亿元，零售业务在全行营收中的贡献占比下降3.18个百分点，区域银行零售业务的经营压力进一步凸显。零售业务下滑的三大核心原因宏观经济影响需求：受宏观经济环境波动影响，居民收入水平稳定性下降，购房意愿与消费信心受到抑制，直接导致个人住房贷款、消费贷款等零售信贷需求萎缩，同时也影响了银行手续费及佣金收入（如信用卡分期手续费、财富管理服务费等）的增长。利率下行压缩收益：近年来LPR多次下调，叠加消费贷、信用卡分期等零售信贷产品利率的持续下行，银行零售信贷资产的收益率不断降低，利息净收入增长受限。资产质量承压侵蚀利润：部分银行零售信贷资产质量面临压力，不良贷款率有所上升。为应对风险，银行不得不加大风险资产核销力度及拨备计提规模，这在一定程度上压缩了零售业务的利润空间。对公业务成行业增长 “压舱石”在零售业务增长乏力的背景下，对公业务的强势崛起为银行业注入了新的增长动能，成为行业稳定发展的核心支撑。从资产规模来看，主要上市银行公司金融条线资产总额保持两位数的高增长，远高于个人金融资产总额的增速。信贷资源持续向对公领域倾斜，尤其是科技、绿色、数字经济等高质量发展领域。以建设银行为例，截至2025年6月末，该行科技贷款余额5.15万亿元，较上年末增长16.81%；绿色贷款余额5.72万亿元，同比增长14.88%；数字经济核心产业贷款余额8523.7亿元，较年初增幅13.44%，三类贷款增速均显著高于全行贷款平均增速，信贷结构优化成效显著。招商银行对公业务的崛起趋势更为典型。从历年对公与零售金融税前净利润对比可见，2016年招行零售业务与对公业务税前利润比值为1.6，零售业务利润远高于对公业务；而到2024年，招行对公业务税前利润达875.56亿元，零售业务为906.44亿元，两者比值降至1.04，已基本持平，对公业务的利润贡献能力大幅提升。三、业务格局切换：金融资源顺应经济逻辑重配2025年银行业“零售缓、对公快”的业务格局反差，本质上是金融资源顺应经济发展逻辑的重新配置。当前经济发展更注重实体经济活力与高质量发展，金融资源向企业端、尤其是科技创新、绿色发展等战略领域倾斜。从银行自身战略来看，在零售业务竞争加剧、盈利空间收窄的背景下，加大对公业务布局是银行寻找新增长极、实现差异化竞争的重要选择。对于零售业务而言，当前的利润调整既是挑战，也是推动行业转型的机遇。未来，银行业需从过去的规模扩张模式转向精细化运营，通过提升客户分层服务能力、优化产品结构、加强数字化风控等方式，挖掘零售业务的新增长潜力，稳住零售业务基本盘。对于对公业务而言，其已成为银行业差异化竞争的“胜负手”。如何在服务实体经济、对接国家战略的过程中，持续深化对公业务的战略布局，提升对公客户综合服务能力，如“信贷+投行+财富管理”一体化服务，将成为决定银行未来盈利能力与市场地位的关键。未来银行业的竞争不再是单一业务的“独角戏”，而是对公与零售业务协同发展。只有在稳住零售基本盘的同时，做强做优对公业务，才能在行业转型中实现持续稳健发展。来源：CFC金服","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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