银行行业点评：2025年四季度银行业主要监管指标点评

国盛证券03-01

四季度净利润增速回正，城农商行低基数影响明显改善。2025 年商业银行净利润同比增加2.33%，增速较前三季度提升2.35pct，增速回正。分银行类型看，2025 国有行、股份行、城商行、农商行净利润分别同比+2.25%、-2.84%、+12.87%、+4.57%，其中国有行、股份行增速略有下滑，分别较1-3Q25 下降0.01pct、0.73pct；城商行、农商行由于去年低基数原因，25 年增速...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2616297498?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-03-01 00:00","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2616297498","market":"hk","top_or_hot":-1,"title":"银行行业点评：2025年四季度银行业主要监管指标点评","media":"国盛证券","content":"<div>\n<p>四季度净利润增速回正，城农商行低基数影响明显改善。2025 年商业银行净利润同比增加2.33%，增速较前三季度提升2.35pct，增速回正。分银行类型看，2025 国有行、股份行、城商行、农商行净利润分别同比+2.25%、-2.84%、+12.87%、+4.57%，其中国有行、股份行增速略有下滑，分别较1-3Q25 下降0.01pct、0.73pct；城商行、农商行由于去年低基数原因，25 年增速...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260301170714a72d1bf1&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>银行行业点评：2025年四季度银行业主要监管指标点评</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n银行行业点评：2025年四季度银行业主要监管指标点评\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-01 00:00 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260301170714a72d1bf1&s=b><strong>国盛证券</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>四季度净利润增速回正，城农商行低基数影响明显改善。2025 年商业银行净利润同比增加2.33%，增速较前三季度提升2.35pct，增速回正。分银行类型看，2025 国有行、股份行、城商行、农商行净利润分别同比+2.25%、-2.84%、+12.87%、+4.57%，其中国有行、股份行增速略有下滑，分别较1-3Q25 下降0.01pct、0.73pct；城商行、农商行由于去年低基数原因，25 年增速...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260301170714a72d1bf1&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":"LU1497733557.USD","symbol_name":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260301170714a72d1bf1&s=b","article_id":"2616297498","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260301170714a72d1bf1&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2616297498","pubTimestamp":1772294400,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"四季度净利润增速回正，城农商行低基数影响明显改善。2025 年商业银行净利润同比增加2.33%，增速较前三季度提升2.35pct，增速回正。贷款方面，2025 年商业银行贷款同比增长7.3%，增速环比持平。增量上看，国有行仍贡献主要增量，2025 年国有行、股份行、城商行、农商行贷款增量分别为9.7、1.4、2.9、1.9 万亿元，国有行增量占全部商业银行的61.0%。2025 年商业银行净息差1.42%，较1-3Q25 持平，同比2024 下降10bp。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","LU1634259391.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","LU1497734951.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD-H","LU0051755006.USD":"摩根大通中国A (dist)","BK1231":"综合性银行","LU1634259557.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD-H","00998":"中信银行","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU1497733631.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD","BK1560":"内银股","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","03328":"交通银行","LU0210526637.USD":"JPM CHINA \"A\" (USD) ACC","09668":"渤海银行","LU1522347837.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC A","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD"},"translate_title":"Banking industry comments: Comments on main regulatory indicators of the banking industry in the fourth quarter of 2025","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00998":0.9,"03328":0.9,"09668":0.85},"content_text":"四季度净利润增速回正，城农商行低基数影响明显改善。2025 年商业银行净利润同比增加2.33%，增速较前三季度提升2.35pct，增速回正。分银行类型看，2025 国有行、股份行、城商行、农商行净利润分别同比+2.25%、-2.84%、+12.87%、+4.57%，其中国有行、股份行增速略有下滑，分别较1-3Q25 下降0.01pct、0.73pct；城商行、农商行由于去年低基数原因，25 年增速大幅回升，分别较1-3Q25 增加11.14pct、11.92pct。总资产规模增长稳中有升，国有行贡献主要信贷增量。资产端，2025 年末商业银行总资产同比增长9.0%，环比+0.16pct，分银行类型看，国有行、股份行、城商行、农商行资产分别同比增长10.8%、4.8%、9.7%、5.2%，增速环比+0.81pct、+0.16pct、-0.87pct、-0.98pct，国有行资产扩张带动整体资产增速环比提升。从结构看，同期商业银行各项贷款同比增速为7.3%，低于总资产增速，非信贷资产成为支撑总资产扩张的重要动力。信贷增速保持平稳，国有行贡献主要增量。贷款方面，2025 年商业银行贷款同比增长7.3%，增速环比持平。分银行类型看，国有行、股份行、城商行、农商行贷款分别同比增长8.5%、3.3%、9.4%、6.8%，增速环比-0.3pct、持平、+1.0pct、-0.1pct。增量上看，国有行仍贡献主要增量，2025 年国有行、股份行、城商行、农商行贷款增量分别为9.7、1.4、2.9、1.9 万亿元，国有行增量占全部商业银行的61.0%。净息差边际企稳。2025 年商业银行净息差1.42%，较1-3Q25 持平，同比2024 下降10bp。分银行类型看，不同银行表现有所分化，2025 国有行、股份行、城商行、农商行净息差分别为1.30%、1.56%、1.37%、1.60%，环比-0.3bp、-0.6bp、+0.2bp、+2.0bp。目前资产端收益率仍处于下行区间，但降幅明显收窄，负债端经历多轮存款利率下调，有效缓解净息差下行压力，2026 年随着高息定期存款持续到期，息差降幅有望进一步收窄。资产质量保持平稳，农商行大幅改善。不良率、关注率均环比下降。2025年末商业银行不良率、关注率分别为1.50%、2.18%，环比分别下降2bp、1bp。分银行类20型25看年，末国有行、股份行、城商行、农商行不良率分别为1.22%、1.21%、1.82%、2.72%，环比-1bp、-1bp、-2bp、-10bp，中小银行减量提质效果明显，不良率大幅下降。投资建议：2026 年银行存款再迎大规模重定价，负债成本有望明显优化支撑息差降幅收窄，上市银行基本面改善确定性强，低利率环境下险资等中长期资金配置规模也将持续提升，建议关注高股息个股。风险提示：经济恢复不及预期；信贷需求低于预期；银行资产质量恶化。","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,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":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 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2616297498","isCrawlerRequest":true}