江苏银行营收超预期业绩增速回落

图1：累计营收、PPOP、归母净利润同比增速40.0%

营业收入同比增速 拨备前润同增速 归母净润同增速35.0%30.0%25.0%20.0%15.0%10.0%5.0%

11.7%10.0%9.2%0.0%-5.0%数据来源：，表2：累计业绩同比增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化营业收入14.2%14.9%10.7%10.3%10.6%9.2%5.3%11.7%6.45pct净利息收入14.1%12.8%14.9%10.3%6.4%7.1%0.7%-0.8%-1.51pct非息收入14.6%20.3%0.1%10.4%21.9%14.2%18.3%45.5%27.22pct净手续费收入14.8%12.8%-16.5%-16.6%-24.2%-14.6%-31.6%-16.8%14.78pct其他非息收入14.5%24.4%11.6%30.3%49.6%28.3%44.1%74.9%30.76pct营业支出2.8%3.8%1.2%-3.9%-8.6%-8.4%-6.3%18.2%24.50pct拨备前利润15.6%14.0%7.3%10.5%9.8%9.2%6.0%9.2%3.17pct利润总额29.4%28.9%23.2%23.5%30.3%27.1%18.6%6.9%-11.73pct净利润31.8%31.6%29.1%24.4%27.3%25.3%13.9%9.9%-3.96pct归母净利润31.2%31.3%28.9%24.8%27.2%25.2%13.3%10.0%-3.23pct数据来源：，图2：累计同比业绩拆分（2024Q1）江苏银行2024Q1业绩驱动拆分14.6%9.9%14.6%9.9%10.0%14%12%10%8%6%4%2%0%-2%-4%生 净息 息资 差产规模

净 其 税手 他 金续 收 及费 支 附收 加入

成拨有净少本备效利数收计税润股入提率 东比 净润利润数据来源：，图3：累计同比业绩拆分（2023A）20%

江苏银行2023A业绩驱动拆分13.9%13.9%13.9%13.9%13.3%10%5%0%-5%生 净 净息 息 手资 差 续产 费规 收模 入

其 税 他 金 收 及 支 附 加 比

拨 有 净 少 备 效 利 数 计 税 润 股 提 率 东 净 润利润数据来源：，表3：累计同比业绩拆分2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化生息资产规模12.2%12.6%12.9%14.6%14.1%13.7%13.9%14.6%0.69pct净息差1.9%0.2%2.0%-4.2%-7.7%-6.6%-13.2%-15.4%-2.20pct净手续费收入0.1%0.0%-4.4%-3.7%-3.8%-2.5%-3.5%-1.7%1.75pct其他收支0.1%1.9%-0.2%3.4%7.8%4.4%8.0%14.2%6.22pct税金及附加0.1%0.1%0.0%0.1%0.0%0.0%0.0%-0.1%-0.05pct成本收入比1.2%-0.8%-3.0%0.4%-0.7%0.2%0.7%-2.5%-3.24pct拨备计提13.8%15.0%16.0%13.0%20.6%17.9%12.6%-2.3%-14.90pct有效税率2.4%2.7%5.9%0.9%-3.0%-1.9%-4.7%3.1%7.76pct净利润31.8%31.6%29.1%24.4%27.3%25.3%13.9%9.9%-3.96pct少数股东净利润-0.6%-0.3%-0.2%0.4%-0.1%-0.1%-0.6%0.1%0.73pct归母净利润31.2%31.3%28.9%24.8%27.2%25.2%13.3%10.0%-3.23pct数据来源：，表4：累计业绩结构分母为营收2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化营业收入100.0%100.0%100.0%100.0%100.0%100.0%100.0%100.0%0.00pct净利息收入72.7%71.3%74.1%73.0%70.0%70.0%70.9%64.8%-6.06pct利息收入161.1%159.0%164.0%162.9%160.2%162.0%169.6%157.3%-12.27pct利息支出88.3%87.7%89.9%89.9%90.2%92.0%98.7%92.5%-6.21pct非息收入27.3%28.7%25.9%27.0%30.0%30.0%29.1%35.2%6.06pct净手续费收入10.2%9.4%8.9%8.7%7.0%7.3%5.8%6.5%0.70pct其他非息收入17.0%19.3%17.1%18.4%23.0%22.7%23.4%28.8%5.37pct营业支出50.9%50.9%53.5%42.6%42.0%42.8%47.7%45.1%-2.60pct业务及管理费20.4%21.0%24.5%20.3%20.9%20.9%24.0%22.0%-1.96pct减值损失29.4%28.8%27.9%21.3%20.1%20.8%22.5%22.0%-0.54pct拨备前利润78.4%77.8%74.1%78.5%77.8%77.8%74.6%76.7%2.10pct利润总额49.0%48.9%46.2%57.2%57.8%57.0%52.1%54.7%2.64pct净利润39.4%39.5%37.3%45.1%45.4%45.3%40.4%44.4%3.95pct归母净利润38.1%38.1%36.0%43.7%43.8%43.7%38.7%43.1%4.36pct数据来源：，图4：单季度营收、PPOP、归母净利润同比增速50.0%40.0%

单季度营收、PPOP、归母净利润增速营业收同比速 拨备前润同增速 归母净润同增速30.0%20.0%10.0%

11.7%10.0%0.0% 9.2%-10.0%-20.0%-30.0%-40.0%-50.0%数据来源：，2022Q22022Q32022Q42023Q12022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化营业收入17.4%16.1%-1.0%10.3%10.9%6.4%-7.1%11.7%18.85pct净利息收入14.5%10.4%21.1%10.3%2.7%8.5%-16.9%-0.8%16.08pct非息收入25.7%31.1%-47.1%10.4%32.6%1.7%39.5%45.5%5.96pct净手续费收入21.3%8.1%-59.9%-16.6%-33.2%9.0%-102.2%-16.8%85.39pct其他非息收入28.1%41.1%-31.5%30.3%65.0%-0.7%140.9%74.9%-66.00pct营业支出10.3%5.7%-4.9%-3.9%-12.8%-7.8%-0.7%18.2%18.97pct拨备前利润17.2%10.9%-13.0%10.5%9.1%8.2%-6.9%9.2%16.08pct利润总额26.0%28.1%4.1%23.5%37.3%21.1%-17.1%6.9%23.92pct净利润37.6%31.3%19.7%24.4%30.0%21.5%-33.1%9.9%43.01pct归母净利润36.7%31.5%19.7%24.8%29.5%21.5%-36.8%10.0%46.79pct数据来源：，2022Q22022Q32022Q42023Q12022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化生息资产规模11.3%12.8%13.5%14.6%14.8%14.0%13.8%14.6%0.82pct净息差3.2%-2.4%7.6%-4.2%-12.1%-5.5%-30.6%-15.4%15.26pct净手续费收入0.7%-0.2%-16.9%-3.7%-4.0%0.1%-6.8%-1.7%5.13pct其他收支1.9%5.3%-6.2%3.4%12.1%-2.2%16.9%14.2%-2.73pct税金及附加0.0%0.0%-0.1%0.1%0.0%0.0%-0.1%-0.1%0.08pct成本收入比0.0%-4.6%-11.0%0.4%-1.7%1.9%0.0%-2.5%-2.48pct拨备计提8.8%17.2%17.2%13.0%28.2%13.0%-10.1%-2.3%7.84pct有效税率11.6%3.3%15.6%0.9%-7.2%0.4%-16.0%3.1%19.10pct净利润37.6%31.3%19.7%24.4%30.0%21.5%-33.1%9.9%43.01pct少数股东净利润-1.0%0.2%0.0%0.4%-0.5%-0.1%-3.7%0.1%3.78pct归母净利润36.7%31.5%19.7%24.8%29.5%21.5%-36.8%10.0%46.79pct数据来源：，图5：单季度同比业绩拆分（2023Q4）20%

江苏银行2023Q4单季度业绩驱动拆分13.8%(33.1%)13.8%(33.1%)(36.8%)0%-10%-20%-30%-40%生 净息 息资 差产规模

净 其 税 成手 他 金 本续 收 及 收费 支 附 入收 加 比入

拨 有 净 少 备 效 利 数 计 税 润 股 提 率 东 净 润利润数据来源：，表7：单季度业绩结构分母为营收2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化营业收入100.0%100.0%100.0%100.0%100.0%100.0%100.0%100.0%0.00pct净利息收入72.5%68.7%82.7%73.0%67.2%70.1%74.1%64.8%-9.27pct利息收入159.1%155.2%179.8%162.9%157.6%165.6%197.9%157.3%-40.61pct利息支出86.6%86.5%97.0%89.9%90.5%95.6%123.8%92.5%-31.34pct非息收入27.5%31.3%17.3%27.0%32.8%29.9%25.9%35.2%9.27pct净手续费收入9.1%7.8%7.2%8.7%5.5%8.0%-0.2%6.5%6.62pct其他非息收入18.4%23.5%10.1%18.4%27.4%21.9%26.1%28.8%2.64pct营业支出52.7%51.1%61.8%42.6%41.5%44.3%66.1%45.1%-21.00pct业务及管理费20.3%22.2%35.7%20.3%21.5%20.9%35.7%22.0%-13.62pct减值损失31.4%27.8%24.8%21.3%18.9%22.3%29.0%22.0%-7.00pct拨备前利润78.5%76.6%62.4%78.5%77.2%77.9%62.5%76.7%14.18pct利润总额47.1%48.8%37.6%57.2%58.3%55.6%33.5%54.7%21.18pct净利润38.9%39.5%30.6%45.1%45.7%45.1%22.0%44.4%22.33pct归母净利润37.6%38.1%29.1%43.7%43.9%43.5%19.8%43.1%23.23pct数据来源：，表8：累计ROE拆解2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化营业收入2.56%2.59%2.52%2.44%2.48%2.48%2.33%2.38%0.05pct净利息收入1.86%1.85%1.87%1.78%1.73%1.73%1.65%1.54%-0.11pct净手续费收入0.26%0.24%0.22%0.21%0.17%0.18%0.13%0.15%0.02pct其他非息收入0.44%0.50%0.43%0.45%0.57%0.56%0.54%0.68%0.14pct营业支出-1.30%-1.32%-1.35%-1.04%-1.04%-1.06%-1.11%-1.07%0.04pct税金及附加-0.03%-0.03%-0.03%-0.02%-0.03%-0.03%-0.03%-0.02%0.00pct业务及管理费-0.52%-0.54%-0.62%-0.49%-0.52%-0.52%-0.56%-0.52%0.04pct减值损失-0.75%-0.75%-0.70%-0.52%-0.50%-0.52%-0.52%-0.52%0.00pct营业利润1.26%1.27%1.17%1.40%1.44%1.42%1.22%1.30%0.09pct营业外净收入0.00%0.00%-0.01%0.00%-0.01%-0.01%-0.01%0.00%0.00pct利润总额1.25%1.27%1.17%1.39%1.43%1.41%1.21%1.30%0.09pct所得税-0.25%-0.25%-0.22%-0.30%-0.31%-0.29%-0.27%-0.25%0.03pct年化ROA1.01%1.02%0.94%1.10%1.12%1.12%0.94%1.05%0.11pct杠杆率15.9316.2115.7115.7416.2016.1215.4414.60-0.84年化ROE16.08%16.55%14.79%17.29%18.20%18.08%14.52%15.38%0.86pct数据来源：，备注：杠杆率同比变化的单位为“倍”。表9：单季度ROE拆解2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化营业收入2.63%2.69%2.40%2.44%2.56%2.51%1.96%2.38%0.42pct净利息收入1.91%1.85%1.99%1.78%1.72%1.76%1.45%1.54%0.09pct净手续费收入0.24%0.21%0.17%0.21%0.14%0.20%0.00%0.15%0.16pct其他非息收入0.48%0.63%0.24%0.45%0.70%0.55%0.51%0.68%0.17pct营业支出1.39%1.38%1.48%1.04%1.06%1.11%1.29%1.07%-0.22pct税金及附加0.03%0.03%0.03%0.02%0.03%0.03%0.03%0.02%0.00pct业务及管理费0.53%0.60%0.86%0.49%0.55%0.52%0.70%0.52%-0.17pct减值损失0.83%0.75%0.60%0.52%0.48%0.56%0.57%0.52%-0.05pct营业利润1.24%1.32%0.92%1.40%1.50%1.40%0.66%1.30%0.64pct营业外净收入0.00%0.00%-0.02%0.00%-0.01%0.00%-0.01%0.00%0.00pct利润总额1.24%1.31%0.90%1.39%1.49%1.40%0.66%1.30%0.64pct所得税0.21%0.25%0.17%0.30%0.32%0.26%0.23%0.25%0.02pct年化ROA1.03%1.06%0.73%1.10%1.17%1.13%0.43%1.05%0.62pct杠杆率15.9316.2115.7115.7416.2016.1215.4414.60-0.84年化ROE16.34%17.23%11.54%17.29%18.90%18.26%6.66%15.38%8.72pct数据来源：，备注：杠杆率同比变化的单位为“倍”。表10：净息差、净利差、生息资产收益率、计息负债成本率累计（披露值）2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化净息差2.36%2.32%2.28%1.98%净利差2.15%2.11%2.06%1.95%生息资产收益率4.59%4.53%4.45%4.35%计息负债成本率2.46%2.42%2.36%2.40%单季度（测算值）2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化净息差2.12%2.05%2.20%2.09%1.95%1.95%1.60%1.82%0.23pct净利差2.22%2.18%2.35%2.28%2.14%2.09%1.73%1.99%0.26pct生息资产收益率4.66%4.62%4.78%4.68%4.58%4.60%4.27%4.43%0.16pct计息负债成本率2.44%2.44%2.43%2.40%2.45%2.51%2.54%2.44%-0.10pct数据来源：，备注：单季度测算时生息资产剔除交易性金融资产以及其他权益工具投资。表11：生息资产分项收益率、计息负债分项成本率、利息收支结构平均收益率2020H12020A2021H12021A2022H12022A2023H12023A同比变化贷款5.35%5.43%5.40%5.36%5.41%5.36%5.32%5.18%-0.18pct投资类资产4.20%4.15%4.12%3.97%3.82%3.66%3.37%3.32%-0.34pct存放央行1.52%1.51%1.47%1.47%1.42%1.43%1.45%1.45%0.02pct同业资产1.88%1.37%2.09%2.17%2.47%2.50%2.59%2.53%0.03pct平均付息率2020H12020A2021H12021A2022H12022A2023H12023A同比变化存款2.56%2.47%2.31%2.32%2.34%2.34%2.26%2.33%-0.01pct向央行借款3.31%3.15%2.86%2.84%2.79%2.75%2.63%2.58%-0.17pct同业负债2.43%1.98%2.39%2.38%2.19%2.12%2.37%2.43%0.31pct发行债券3.24%3.12%3.14%3.20%2.97%2.80%2.58%2.60%-0.20pct利息收入结构2020H12020A2021H12021A2022H12022A2023H12023A同比变化贷款67.4%69.9%69.5%70.6%72.5%73.5%75.2%74.9%1.44pct投资类资产26.4%25.9%25.5%24.6%22.9%21.8%19.7%19.9%-1.88pct存放央行2.3%2.3%2.1%2.1%1.7%1.7%1.7%1.7%-0.02pct同业资产2.1%2.0%2.8%2.7%3.0%3.1%3.4%3.5%0.45pct利息支出结构2020H12020A2021H12021A2022H12022A2023H12023A同比变化存款58.9%58.6%55.3%55.8%58.6%58.6%57.1%58.2%-0.48pct向央行借款7.8%8.4%9.7%9.2%8.2%8.0%7.0%6.9%-1.11pct同业负债11.8%11.5%12.0%12.5%12.9%12.9%17.6%18.3%5.39pct发行债券21.5%21.5%23.0%22.6%20.3%20.3%18.1%16.4%-3.86pct数据来源：，表12：生息资产情况（单位：百万元）余额结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化贷款54.6%55.3%55.0%54.0%54.3%55.0%54.2%53.1%-0.96pct投资类资产36.4%35.6%36.1%36.7%36.3%35.6%36.9%37.7%1.01pct存放央行4.9%5.1%4.9%4.6%4.6%4.8%4.6%4.2%-0.42pct同业资产4.1%4.0%4.1%4.7%4.8%4.6%4.2%5.1%0.38pct同比增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总生息资产12.4%13.2%13.8%15.2%14.4%13.6%13.9%15.2%-0.05pct贷款15.2%15.1%14.6%14.8%13.8%12.9%12.3%13.1%-1.67pct投资类资产13.0%13.2%14.8%17.1%13.9%13.8%16.6%18.3%1.28pct存放央行-13.0%-6.3%7.6%0.0%9.3%5.7%8.2%4.5%4.58pct同业资产9.7%18.3%4.2%24.1%32.3%31.1%19.4%24.5%0.43pct较年初增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总生息资产9.6%11.7%13.8%6.7%10.1%11.4%13.9%7.8%1.16pct贷款9.6%13.2%14.6%4.9%8.8%11.5%12.3%5.7%0.77pct投资类资产11.5%10.9%14.8%8.3%10.6%9.9%16.6%9.9%1.63pct存放央行3.2%10.5%7.6%0.3%4.8%8.5%8.2%-3.1%-3.39pct同业资产2.1%0.4%4.2%23.8%29.7%26.4%19.4%29.1%5.30pct较年初增量2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总生息资产246,226298,795354,743194,537295,490333,078407,070260,40065,863贷款134,245184,469204,01878,384141,859185,223197,608101,87323,489投资类资产105,37399,984135,93887,531111,713104,399174,860122,14034,608存放央行4,21313,86610,0614726,80712,17311,668-4,712-5,183同业资产2,3954754,72628,15035,11131,28322,93341,10012,949较年初增量结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化贷款54.5%61.7%57.5%40.3%48.0%55.6%48.5%39.1%-1.17pct投资类资产42.8%33.5%38.3%45.0%37.8%31.3%43.0%46.9%1.91pct存放央行1.7%4.6%2.8%0.2%2.3%3.7%2.9%-1.8%-2.05pct同业资产1.0%0.2%1.3%14.5%11.9%9.4%5.6%15.8%1.31pct单季增量2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化总生息资产108,74352,56955,949194,537100,95237,58973,991260,40065,863贷款68,85750,22319,54978,38463,47543,36412,384101,87323,489投资类资产48,338-5,38935,95487,53124,181-7,31370,461122,14034,608存放央行-6,3899,654-3,8054726,3355,366-504-4,712-5,183同业资产-2,063-1,9194,25128,1506,960-3,828-8,35041,10012,949单季增量/期末余额2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化贷款2.4%1.8%0.7%2.5%2.0%1.3%0.4%2.8%0.32pct投资类资产1.7%-0.2%1.2%2.8%0.8%-0.2%2.1%3.4%0.59pct存放央行-0.2%0.3%-0.1%0.0%0.2%0.2%0.0%-0.1%-0.15pct同业资产-0.1%-0.1%0.1%0.9%0.2%-0.1%-0.3%1.1%0.24pct数据来源：，表13：计息负债情况（单位：百万元）余额结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化存款63.35%62.56%61.09%63.36%62.58%64.24%62.40%64.10%0.74pct向央行借款7.33%6.91%6.88%6.65%6.50%6.62%7.24%6.69%0.04pct同业负债12.76%12.38%14.42%14.67%15.92%16.70%17.57%15.54%0.87pct发行债券16.56%18.16%17.62%15.33%15.01%12.44%12.79%13.68%-1.65pct同比增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总计息负债12.1%13.1%13.9%15.9%14.9%13.3%13.0%13.2%-2.72pct存款10.9%11.1%12.2%13.6%13.5%16.4%15.5%14.5%0.95pct向央行借款-4.7%-3.6%1.8%3.6%2.0%8.6%19.0%13.8%10.23pct同业负债47.7%12.2%35.7%42.1%43.4%52.9%37.7%19.9%-22.17pct发行债券5.5%30.4%10.5%11.5%4.2%-22.4%-18.0%1.0%-10.52pct较年初增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总计息负债9.9%11.8%13.9%7.6%10.9%11.2%13.0%7.8%0.16pct存款12.2%12.7%12.2%11.6%13.6%16.9%15.5%10.7%-0.91pct向央行借款4.6%0.4%1.8%4.1%4.8%7.1%19.0%-0.4%-4.53pct同业负债15.9%14.4%35.7%9.5%22.4%28.9%37.7%-4.7%-14.17pct发行债券0.2%11.8%10.5%-6.4%-5.6%-21.5%-18.0%15.3%21.66pct较年初增量2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化总计息负债235,364281,147331,764207,242295,015304,409353,602239,07331,830存款180,179187,995179,865192,883224,910281,021256,271205,25412,370向央行借款8,4557033,2957,6308,91913,18235,516-981-8,612同业负债45,80041,442103,06037,17987,791112,923147,710-25,196-62,375发行债券93051,00745,544-30,450-26,605-102,718-85,89559,99690,446较年初增量结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化存款76.6%66.9%54.2%93.1%76.2%92.3%72.5%85.9%-7.22pct向央行借款3.6%0.2%1.0%3.7%3.0%4.3%10.0%-0.4%-4.09pct同业负债19.5%14.7%31.1%17.9%29.8%37.1%41.8%-10.5%-28.48pct发行债券0.4%18.1%13.7%-14.7%-9.0%-33.7%-24.3%25.1%39.79pct单季增量2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化总计息负债97,40645,78350,617207,24287,7739,39349,194239,07331,830存款28,4427,816-8,129192,88332,02756,111-24,751205,25412,370向央行借款4,309-7,7522,5927,6301,2894,26322,334-981-8,612同业负债32,489-4,35761,61737,17950,61225,13234,787-25,196-62,375发行债券32,16650,077-5,463-30,4503,845-76,11216,82359,99690,446单季增量/期末余额2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化存款1.1%0.3%-0.3%6.6%1.1%1.9%-0.8%6.2%-0.40pct向央行借款0.2%-0.3%0.1%0.3%0.0%0.1%0.7%0.0%-0.29pct同业负债1.2%-0.2%2.3%1.3%1.7%0.8%1.1%-0.8%-2.03pct发行债券1.2%1.9%-0.2%-1.0%0.1%-2.5%0.5%1.8%2.86pct数据来源：，表14：贷款情况余额结构2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款36.5%39.1%38.7%40.1%36.3%37.7%36.3%35.8%-1.86pct住房按揭17.7%18.6%17.8%17.4%16.0%15.3%14.4%13.6%-1.69pct消费15.1%16.5%16.3%18.2%16.0%17.1%16.6%17.5%0.35pct经营2.0%2.1%2.7%2.5%2.4%3.1%3.2%3.0%-0.13pct信用卡1.7%1.9%2.0%2.0%2.0%2.2%2.0%1.8%-0.39pct票据7.3%7.9%4.6%8.0%8.1%9.0%6.0%7.3%-1.74pct对公贷款56.2%53.0%56.6%51.9%55.5%53.3%57.7%56.9%3.59pct制造业11.6%10.7%11.6%11.4%12.5%12.0%13.4%13.3%1.29pct批发和零售业7.9%7.0%7.2%6.3%6.7%6.7%6.7%6.7%-0.05pct基建8.9%8.1%8.4%8.0%8.8%8.5%9.5%9.5%1.03pct房地产业7.5%7.4%7.6%6.5%6.2%5.6%5.5%4.6%-1.01pct租赁和商业服务业12.3%12.4%13.7%12.4%12.9%12.8%14.1%14.1%1.35pct建筑业3.5%3.3%3.5%2.9%3.1%2.7%3.0%2.8%0.11pct其他行业4.5%4.0%4.6%4.4%5.4%5.0%5.5%5.9%0.87pct余额增速2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款27.8%25.0%24.2%19.5%8.0%7.7%13.6%6.8%-0.89pct住房按揭29.9%29.5%17.5%9.0%3.3%0.5%2.8%-0.1%-0.58pct消费32.2%22.1%26.3%28.0%12.8%7.8%18.5%14.6%6.82pct经营-2.5%13.2%58.4%39.5%2.7%42.3%53.7%7.8%-34.51pct信用卡15.6%22.1%36.0%26.9%18.8%26.1%12.7%-7.4%-33.46pct票据16.3%2.8%-25.8%18.9%102.3%28.5%-15.6%-9.3%-37.82pct对公贷款12.4%11.3%17.8%14.0%13.0%17.7%18.2%19.9%2.15pct制造业4.7%5.1%17.3%23.9%24.2%20.8%22.0%24.3%3.55pct批发和零售业10.1%-2.3%6.8%3.8%7.3%22.7%13.2%11.5%-11.21pct基建7.2%7.4%10.3%14.7%20.8%22.0%23.4%26.0%4.01pct房地产业67.9%52.8%18.9%1.7%-6.7%-1.7%0.5%-8.0%-6.33pct租赁和商业服务业7.2%12.8%30.3%16.8%8.0%17.9%24.8%24.2%6.31pct建筑业14.5%17.5%15.4%2.2%1.5%8.0%10.4%16.8%8.80pct其他行业0.7%0.0%19.5%27.4%35.2%29.6%16.5%31.9%2.22pct较年初增量占比2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款40.1%58.3%35.3%46.1%-3.0%21.1%20.2%20.8%-0.35pct住房按揭29.4%31.6%10.1%10.1%0.7%0.5%4.6%-0.2%-0.70pct消费9.3%22.4%14.1%28.0%-7.0%9.7%11.2%20.3%10.57pct经营0.5%1.8%8.2%5.0%1.4%7.2%4.9%1.9%-5.26pct信用卡0.9%2.5%2.9%3.0%2.0%3.6%-0.6%-1.3%-4.97pct票据-9.1%1.6%-25.3%9.0%9.1%15.8%-27.8%-6.8%-22.56pct对公贷款69.1%40.1%90.0%44.9%93.8%63.1%107.6%86.0%22.92pct制造业9.2%3.9%19.7%15.6%24.0%16.3%29.1%23.8%7.49pct批发和零售业3.9%-1.3%9.1%1.6%11.7%9.8%6.7%6.3%-3.49pct基建10.4%4.2%10.7%7.2%17.0%12.0%20.9%17.9%5.88pct房地产业27.6%19.2%9.5%0.8%3.1%-0.8%4.3%-3.6%-2.87pct租赁和商业服务业8.7%10.5%26.1%12.6%17.6%15.3%29.3%25.1%9.86pct建筑业6.5%3.6%5.1%0.4%4.9%1.6%5.8%3.7%2.12pct其他行业2.8%0.0%9.8%6.7%15.6%9.0%11.5%12.9%3.93pct数据来源：，表15：存款情况（）存款结构2020H12020A2021H12021A2022H12022A2023H12023A同比变化公司存款66.7%66.3%64.4%63.3%60.1%54.3%51.5%49.7%-4.62pct定期40.5%38.2%36.5%36.1%33.6%32.5%28.8%26.9%-5.61pct活期26.3%28.1%27.9%27.2%26.5%21.8%22.7%22.8%0.99pct个人存款25.7%27.5%28.5%29.2%30.5%34.2%36.1%37.8%3.60pct定期20.2%21.3%22.4%23.5%25.1%27.5%30.8%32.8%5.36pct活期5.5%6.2%6.1%5.6%5.4%6.7%5.2%4.9%-1.76pct余额增速2020H12020A2021H12021A2022H12022A2023H12023A同比变化公司存款18.8%10.9%4.7%6.1%3.2%-3.9%-2.8%5.6%9.49pct定期26.3%9.9%-2.1%4.9%1.7%1.0%-2.6%-4.5%-5.48pct活期9.0%12.3%15.2%7.7%5.1%-10.4%-2.9%20.6%31.03pct个人存款25.7%22.4%20.3%17.7%18.5%31.2%34.0%27.5%-3.66pct定期27.9%23.0%20.4%22.6%24.0%30.8%39.2%37.9%7.12pct活期18.2%20.5%20.0%1.1%-1.8%33.0%9.7%-14.9%-47.94pct较年初增量2020H12020A2021H12021A2022H12022A2023H12023A同比变化公司存款126,22685,27983,77252,78761,383-36,00870,37549,12985,137定期96,01545,05139,53124,54324,2855,1074,720-23,815-28,922活期30,21140,22844,24128,24437,098-41,11565,65472,943114,059个人存款55,67565,80260,75863,78274,570132,057111,541152,94220,884定期47,73452,03951,59862,87267,982105,046123,423169,17664,130活期7,94013,7629,1609106,58827,011-11,881-16,234-43,245较年初增量占比2020H12020A2021H12021A2022H12022A2023H12023A同比变化公司存款72.5%68.6%50.3%35.4%34.1%-20.0%31.3%19.2%39.19pct定期55.1%36.2%23.7%16.5%13.5%2.8%2.1%-9.3%-12.13pct活期17.3%32.4%26.5%19.0%20.6%-22.9%29.2%28.5%51.32pct个人存款32.0%52.9%36.5%42.8%41.4%73.4%49.6%59.7%-13.74pct定期27.4%41.9%31.0%42.2%37.7%58.4%54.9%66.0%7.61pct活期4.6%11.1%5.5%0.6%3.7%15.0%-5.3%-6.3%-21.35pct数据来源：，表16：投资类资产情况（单位：百万元）余额结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化FVTPL31.4%33.7%35.8%36.6%33.7%31.5%34.3%38.9%2.32pctAC52.9%52.7%49.1%47.1%47.1%48.0%45.0%39.9%-7.16pctFVOCI15.7%13.6%15.1%16.4%19.1%20.5%20.7%21.2%4.84pct余额增速2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化FVTPL25.3%32.0%41.5%66.7%22.2%6.3%11.5%25.8%-40.87pctAC1.0%2.5%-2.6%-7.9%1.5%3.7%6.8%0.3%8.23pctFVOCI41.9%19.3%32.7%32.0%39.1%71.4%60.3%53.4%21.34pct较年初增量2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化FVTPL54,84576,255110,70039,95815,548-12,66143,609104,27564,318AC9,8005,143-13,96519,75231,87138,88535,363-13,754-33,506FVOCI40,72918,58739,20427,82264,29378,17595,88931,6183,796较年初增量结构2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1同比变化FVTPL5.4%7.5%10.5%3.5%1.3%-1.1%3.5%7.7%4.22pctAC1.0%0.5%-1.3%1.7%2.7%3.4%2.9%-1.0%-2.75pctFVOCI4.0%1.8%3.7%2.4%5.5%6.7%7.8%2.3%-0.10pct单季增量2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化FVTPL71,28221,41034,44539,958-24,409-28,21056,270104,27564,318AC-41,961-4,656-19,10819,75212,1197,014-3,522-13,754-33,506FVOCI19,018-22,14220,61727,82236,47113,88217,71431,6183,796单季增量/期末余额2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1同比变化FVTPL7.0%2.1%3.3%3.5%-2.1%-2.4%4.6%7.7%4.22pctAC-4.1%-0.5%-1.8%1.7%1.0%0.6%-0.3%-1.0%-2.75pctFVOCI1.9%-2.2%2.0%2.4%3.1%1.2%1.4%2.3%-0.10pct数据来源：，备注：FVTPL为以公允价值计量且其变动计入当期损益的金融资产；AC为以摊余成本计量的金融资产或者债权投资；FVOCI为以公允价值计量且其变动计入其他综合收益的金融资产或者（其他债权投资+其他权益工具投资）。表17：非息收入、其他综合收益累计占比（/营收）2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化净手续费及佣金收入10.2%9.4%8.9%8.7%7.0%7.3%5.8%6.5%0.70pct投资收益13.7%14.9%14.9%16.0%15.1%15.7%16.3%18.6%2.27pct公允价值变动损益1.5%2.5%0.2%2.8%6.3%4.6%5.1%8.7%3.60pct汇兑净损益0.8%0.8%0.9%-1.3%0.1%1.1%0.6%0.7%0.09pct其他业务收入1.0%1.0%0.2%0.9%1.5%1.4%1.3%0.7%-0.60pct其他综合收益1.6%0.4%1.4%1.4%3.5%1.4%1.6%7.4%5.81pct单季度占比（/营收）2022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q1环比变化净手续费及佣金收入9.1%7.8%7.2%8.7%5.5%8.0%-0.2%6.5%6.62pct投资收益15.7%17.2%14.8%16.0%14.3%16.7%18.8%18.6%-0.21pct公允价值变动损益0.7%4.4%-7.1%2.8%9.7%1.1%7.4%8.7%1.39pct汇兑净损益0.9%0.9%1.0%-1.3%1.3%3.1%-1.2%0.7%1.92pct其他业务收入1.2%1.1%-2.4%0.9%2.0%1.2%1.2%0.7%-0.45pct其他综合收益3.7%-2.0%4.7%1.4%5.5%-2.7%2.3%7.4%5.15pct数据来源：，表18：手续费结构分母为手续费净收入2020H12020A2021H12021A2022H12022A2023H12023A同比变化手续费及佣金收入137.9%106.3%107.8%109.3%105.9%110.1%116.0%145.2%35.11pct代理业务75.3%82.3%74.0%82.4%72.4%75.0%66.7%93.2%18.24pct理财业务15.8%12.1%15.8%12.8%13.0%13.9%15.1%17.5%3.56pct托管业务1.0%1.0%0.8%0.7%1.1%1.8%1.6%2.7%0.90pct支付结算业务0.2%0.1%0.2%0.1%0.1%0.0%0.1%0.1%0.03pct咨询顾问业务9.6%8.3%13.7%10.5%16.6%16.2%29.0%27.5%11.32pct担保承诺业务26.9%1.6%2.6%2.2%2.3%2.6%3.0%3.9%1.28pct银行卡业务9.0%0.8%0.7%0.6%0.3%0.6%0.5%0.3%-0.23pct交易业务-5.1%-6.3%-7.8%-9.3%-5.9%-10.1%-16.0%-45.2%-35.11pct其他2020H12020A2021H12021A2022H12022A2023H12023A同比变化手续费及佣金支出137.9%106.3%107.8%109.3%105.9%110.1%116.0%145.2%35.11pct数据来源：，表19：资产质量关键指标（单位：百万元）质2022H12022Q1-32022A2023Q12023H12023Q1-32023A2024Q1环比变化不良贷款率0.98%0.96%0.94%0.92%0.91%0.91%0.91%0.91%0.00pct拨备覆盖率340.65%360.05%362.07%365.70%378.09%378.12%378.13%371.22%-6.91pct关注贷款率1.31%1.29%1.31%1.24%1.29%1.30%1.34%1.37%0.03pct逾期贷款率1.05%1.02%0.99%1.07%1.10%0.03pct逾期90天以上/不良70.16%66.50%67.55%63.26%逾期1年以上/损失121.07%140.28%99.46%72.18%逾期/不良107.46%107.83%108.98%116.95%（重组+逾期）/不良123.78%125.70%125.90%130.66%不良净新生成率（测算值）0.85%0.70%0.88%0.57%0.96%0.54%1.10%0.73%-0.37pct不良核销转出率（测算值）81.12%63.64%81.57%48.43%91.18%47.03%108.16%57.45%-50.71pct不良贷款余额14,97915,23615,10315,54815,91016,28216,44217,356914关注类贷款余额20,02520,38420,99320,87922,47923,19424,16326,0971,933损失类贷款余额3,8334,1652,9113,2964,1613,9444,3793,630-749逾期贷款余额16,09616,28617,33819,230逾期90天以上贷款余额10,50810,04310,74710,402逾期1Y以上贷款余额4,6414,0834,1393,161重组贷款余额2,4442,6982,6932,254数据来源：，表20：不良贷款情况余额结构2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款20.4%20.0%22.6%27.6%31.0%34.4%34.9%31.0%-3.39pct经营4.6%3.6%3.7%3.3%3.3%4.9%3.7%5.8%0.86pct对公贷款79.6%80.0%77.4%72.4%69.0%65.6%65.1%69.0%3.39pct制造业35.2%34.5%30.8%25.8%19.8%18.5%17.7%16.4%-2.13pct批发和零售业19.0%19.3%23.7%15.6%15.2%21.2%18.3%14.0%-7.18pct基建3.2%5.3%5.3%2.7%3.1%3.1%2.9%1.9%-1.25pct房地产业0.2%0.2%1.5%8.8%10.7%11.3%12.8%12.7%1.35pct租赁和商业服务业14.0%14.2%9.8%12.7%13.7%4.0%4.7%7.0%2.94pct建筑业1.8%1.4%2.1%2.8%2.6%2.7%3.7%4.3%1.60pct其他行业6.3%5.0%4.3%3.9%3.9%4.7%5.1%12.8%8.06pct不良率2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款0.77%0.67%0.68%0.74%0.83%0.86%0.88%0.79%-0.07pct经营3.16%2.26%1.59%1.43%1.34%1.51%1.04%1.79%0.28pct对公贷款1.94%1.99%1.59%1.51%1.21%1.16%1.03%1.11%-0.05pct制造业4.17%4.23%3.07%2.44%1.54%1.45%1.20%1.12%-0.33pct批发和零售业3.28%3.62%3.80%2.69%2.20%2.97%2.48%1.92%-1.05pct基建0.50%0.87%0.74%0.37%0.35%0.35%0.27%0.18%-0.17pct房地产业0.04%0.04%0.22%1.47%1.70%1.92%2.13%2.54%0.62pct租赁和商业服务业1.56%1.51%0.83%1.11%1.04%0.30%0.30%0.45%0.15pct建筑业0.69%0.58%0.69%1.06%0.82%0.95%1.14%1.40%0.45pct其他行业1.91%1.64%1.10%0.96%0.71%0.89%0.84%1.99%1.10pct较年初增量占比2020H12020A2021H12021A2022H12022A2023H12023A同比变化个人贷款56.0%46.5%-88.5%-146.6%-293.7%-2908.7%44.0%-7.2%2901.55pct经营7.2%-3.9%-1.4%9.5%4.0%-709.9%-19.6%15.5%725.38pct对公贷款44.0%53.5%188.5%246.6%393.7%3008.7%56.0%107.2%-2901.55pct制造业134.0%112.4%190.3%224.9%596.0%3178.5%2.1%-7.6%-3186.10pct批发和零售业-69.4%-53.5%-162.4%99.9%54.9%-2385.8%-