光大银行2025年年报点评：息差企稳拨备提升

关键财务指标（百万元）2024Q12024H1关键财务指标（百万元）2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产总负债总存款营业收入拨备前利润净利润6,897,5283,906,1976,329,7334,124,61934,48725,05012,4956,796,6943,893,4446,225,8293,919,76469,80850,11324,6106,884,7433,897,2356,302,0784,021,320102,39972,13638,5926,959,0213,933,9026,368,7904,035,687135,41592,03941,9117,228,8594,110,9506,639,8644,268,44333,08623,95212,5307,238,5914,084,0706,641,4094,253,18265,91846,59424,7417,217,7174,026,9436,612,8584,184,69494,27065,33237,2787,165,3193,980,2186,557,8774,102,458126,31186,11839,1413.03%0.57%0.73%2.75%4.80%6.50%4.84%2.96%5.18%4.00%3.62%3.88%5.24%4.90%3.33%1.18%0.04%-5.71%-1.57%-1.44%3.49%8.51%4.06%1.65%-9.62%-14.47%-8.77%-8.76%-7.05%-4.06%-5.57%-7.94%-6.72%-13.98%-12.84%-11.03%-20.56%-11.77%-4.96%-4.72%-3.85%-2.92%-4.72%6.19%-11.72%-12.10%-10.06%-6.84%-5.57%-5.11%-24.80%-21.66%-19.52%3.27%-0.85%2.18%39.29%33.83%26.78%35.64%1.52%-10.04%-32.45%-29.07%-11.10%-10.53%-10.88%-9.64%-4.38%-7.02%-9.43%-6.43%0.39%1.72%1.92%2.22%0.31%0.55%-3.63%-6.88%净息差）净利差）1.54%1.46%3.83%2.37%1.56%1.53%1.54%1.40%1.31%1.40%1.45%1.32%（（净息差）净利差）））3.73%2.28%3.31%3.21%1.89%2.00%1.55%1.53%1.55%1.53%1.58%1.55%1.54%1.39%1.37%1.40%1.38%1.42%1.39%1.43%1.41%1.51%1.55%1.53%1.54%1.52%1.53%1.50%1.39%1.37%1.39%1.36%1.42%1.39%1.41%1.39%）0.73%9.45%0.73%0.75%9.66%0.61%0.71%0.70%0.70%0.55%7.00%9.51%7.93%9.11%9.13%8.83%累计分红率（测算）杠杆率风险加权资产增速ROE(年化)*(1-分红率)28.04%30.28%30.25%7.27%7.19%7.30%7.29%7.28%7.00%7.14%7.28%3.38%0.62%0.88%0.81%4.19%6.73%4.90%5.00%6.81%6.86%6.96%5.51%6.33%6.35%6.14%4.89%成本收入比存贷比25.19%26.23%27.58%29.81%24.95%26.53%28.01%29.13%94.70%101.24%96.91%99.40%96.31%96.02%96.23%97.02%拨备覆盖率185.10%2.31%172.45%2.16%170.73%180.59%2.26%174.44%2.18%172.47%168.92%2.13%174.14%拨贷比2.13%1.25%2.15%2.22%不良贷款率1.25%1.25%1.25%1.25%1.25%1.26%1.27%关注贷款率逾期贷款率重组贷款率（1（）2（）1.99%2.20%1.84%1.80%1.95%1.85%2.02%2.13%0.46%0.56%0.60%0.62%1.47%1.24% 1.01% 1.28%1.04% 1.01% 1.18%0.95%0.98%0.75%0.80%0.98%核心一级资本充足率流动性覆盖率净稳定性资金比例股东数（户）9.38%9.59%9.67%9.82%151.17%9.40%9.49%9.65%9.69%132.34%131.61%132.11%138.97%142.11%134.01%143.11%106.45%108.74%108.93%108.76%108.39%107.20%107.09%107.66%189,152180,011164,731156,101147,544139,750179,435199,239AC兑现/营收0.07%0.20%0.13%0.18%5.06%2.99%2.24%1.88%1.71%6.07%5.51%OCI兑现/营收0.47%0.66%3.30%AC兑现/净利润0.18%0.57%0.34%0.60%13.35%7.98%5.67%OCI兑现/净利润1.34%2.14%8.80%超额拨备/归母净利润(TTM)超额拨备/归母净资产-98.28%-120.73%-123.17%-8.81%-95.28%-6.76%-107.03%-7.62%-107.13%-7.54%-113.22%-107.26%-7.10%-8.75%-7.58%-6.89%，国联民生证券研究所累计业绩同比增速2024Q12024H1累计业绩同比增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A营业收入同比增速-9.62%-8.77%-8.76%-7.05%-4.06%-5.57%-7.94%-6.72%核心营收同比增速-14.47%-13.98%-12.84%-11.77%-4.96%-4.72%-3.85%-2.92%净利息收入同比增速-11.72%-12.10%-11.03%-10.06%-6.84%-5.57%-5.11%-4.72%非息收入同比增速-4.28%-0.41%-2.72%1.42%2.46%-5.58%-14.83%-11.71%净手续费收入同比增速-24.80%-21.66%-20.56%-19.52%3.27%-0.85%2.18%6.19%其他非息收入同比增速39.29%33.83%26.78%35.64%1.52%-10.04%-32.45%-29.07%营业支出同比增速-14.55%-15.09%-17.83%-12.81%-10.44%-12.93%-13.77%-8.92%拨备前利润同比增速-11.10%-10.53%-10.88%-9.64%-4.38%-7.02%-9.43%-6.43%利润总额同比增速-2.53%1.37%4.53%3.45%3.14%2.90%-2.01%-3.47%净利润同比增速0.33%1.61%1.81%2.03%0.28%0.53%-3.40%-6.61%归母净利润同比增速0.39%1.72%1.92%2.22%0.31%0.55%-3.63%-6.88%，国联民生证券研究所单季度业绩同比增速2024Q12024Q2单季度业绩同比增速2024Q12024Q22024Q32024Q42025Q12025Q22025Q32025Q4营业收入同比增速-9.62%-7.93%-8.73%-1.31%-4.06%-7.05%-13.01%-2.95%核心营收同比增速-14.47%-13.48%-10.43%-8.26%-4.96%-4.47%-2.09%-0.02%净利息收入同比增速-11.72%-12.48%-8.84%-7.02%-6.84%-4.29%-4.21%-3.56%非息收入同比增速-4.28%3.35%-8.41%18.24%2.46%-12.84%-39.56%-1.33%净手续费收入同比增速-24.80%-17.92%-17.95%-15.22%3.27%-5.36%9.05%21.83%其他非息收入同比增速39.29%29.99%8.43%70.19%1.52%-18.75%-104.49%-19.24%营业支出同比增速-14.55%-15.59%-24.37%-1.32%-10.44%-15.28%-16.05%0.34%拨备前利润同比增速-11.10%-9.95%-11.68%-4.84%-4.38%-9.66%-14.92%4.44%利润总额同比增速-2.53%5.64%10.34%-7.91%3.14%2.67%-10.30%-20.92%净利润同比增速0.33%2.97%2.16%4.70%0.28%0.79%-10.33%-43.87%归母净利润同比增速0.39%3.14%2.27%5.80%0.31%0.80%-10.99%-44.91%，国联民生证券研究所图1：累计营收、PPOP、归母净利润、总资产同比增速 25.00%20.00%15.00%10.00%5.00%0.00%-5.00%-10.00%-15.00%-20.00%

营业收入同比增速 拨备前利润同比增速 归母净利润同比增总资产增速 核心营收同比增速

-6.72%-6.88%-6.43%，国联民生证券研究所图2：单季度营收、PPOP、归母净利润同比增速 营业收入同比增速 拨备前利润同比增速 归母净利润同比增速 核心营收同比增速60.00%40.00%20.00%0.00%-20.00%-40.00%-60.00%-80.00%，国联民生证券研究所图3：累计同比业绩拆分（2025A） 2.7%(6.6%)2.7%(6.6%)(6.9%)2%0%-2%-4%-6%-8%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，国联民生证券研究所图4：单季度业绩拆分（2025Q4） 2.7%(43.9%)2.7%(43.9%)(44.9%)0%-10%-20%-30%-40%-50%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，国联民生证券研究所累计ROE拆分2024Q12024H1累计ROE拆分2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A营业收入2.02%2.06%2.00%1.97%1.87%1.86%1.77%1.79%利息收入3.56%3.52%3.46%3.41%3.06%3.03%3.01%2.99%利息支出2.15%2.10%2.04%2.00%1.79%1.75%1.72%1.69%净利息收入1.42%1.42%1.42%1.41%1.27%1.28%1.30%1.30%净手续费收入0.32%0.31%0.30%0.28%0.32%0.29%0.29%0.29%核心营收1.74%1.73%1.71%1.69%1.59%1.57%1.59%1.59%其他非息收入0.28%0.33%0.29%0.29%0.27%0.28%0.19%0.20%营业支出1.14%1.18%1.07%1.22%0.98%0.98%0.89%1.08%税金及附加0.03%0.03%0.02%0.02%0.02%0.02%0.02%0.02%业务及管理费0.51%0.54%0.55%0.59%0.47%0.49%0.50%0.52%减值损失0.59%0.60%0.48%0.59%0.48%0.45%0.35%0.52%营业利润0.88%0.88%0.93%0.75%0.88%0.88%0.88%0.71%营业外净收入0.00%0.00%0.00%0.00%-0.01%-0.01%-0.01%-0.01%利润总额0.88%0.88%0.93%0.75%0.87%0.86%0.88%0.70%所得税0.15%0.15%0.17%0.14%0.17%0.17%0.17%0.15%年化ROA0.73%0.73%0.75%0.61%0.71%0.70%0.70%0.55%杠杆率12.9213.1112.8212.9912.9013.1012.5912.63年化ROE9.45%9.51%9.66%7.93%9.11%9.13%8.83%7.00%，国联民生证券研究所单季度ROE拆分2024Q12024Q2单季度ROE拆分2024Q12024Q22024Q32024Q42025Q12025Q22025Q32025Q4营业收入2.02%2.08%1.91%1.92%1.87%1.85%1.60%1.81%利息收入3.56%3.45%3.38%3.31%3.06%3.01%2.97%2.89%利息支出2.15%2.04%1.94%1.91%1.79%1.72%1.65%1.57%净利息收入1.42%1.41%1.43%1.40%1.27%1.29%1.32%1.32%净手续费收入0.32%0.30%0.27%0.23%0.32%0.27%0.29%0.27%核心营收1.74%1.71%1.71%1.63%1.59%1.56%1.61%1.58%其他非息收入0.28%0.38%0.20%0.29%0.27%0.29%-0.01%0.23%营业支出1.14%1.21%0.87%1.68%0.98%0.98%0.71%1.63%税金及附加0.03%0.02%0.02%0.02%0.02%0.02%0.02%0.02%业务及管理费0.51%0.57%0.58%0.71%0.47%0.52%0.50%0.59%减值损失0.59%0.60%0.25%0.93%0.48%0.42%0.16%1.00%营业利润0.88%0.87%1.04%0.25%0.88%0.87%0.89%0.18%营业外净收入0.00%0.00%0.00%-0.02%-0.01%-0.01%0.00%0.00%利润总额0.88%0.87%1.04%0.23%0.87%0.86%0.89%0.18%所得税0.15%0.16%0.22%0.04%0.17%0.17%0.19%0.07%年化ROA0.73%0.71%0.82%0.19%0.71%0.69%0.71%0.11%杠杆率12.9213.1112.8212.9912.9013.1012.5912.63年化ROE9.45%9.36%10.50%2.51%9.11%9.01%8.91%1.33%，国联民生证券研究所手续费收入增速2024Q12024H1手续费收入增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A手续费收入-22.91%-20.40%-19.21%-16.95%2.90%-0.31%2.19%4.82%代理业务-40.04%-32.43%-10.45%-18.39%理财业务-2.55%-7.27%19.03%61.41%托管业务-8.96%-5.88%8.32%3.00%支付结算业务-6.52%-3.15%12.57%5.54%咨询顾问业务-4.43%-4.35%0.60%-7.41%担保承诺业务-9.74%-7.84%-10.80%-11.49%银行卡业务-30.40%-25.88%-13.21%-11.52%交易业务其他11.11%-32.00%-10.00%-5.88%手续费支出-3.40%-8.67%-7.73%3.21%-0.15%4.03%2.26%-3.59%零售AUM同比增速10.79%8.36%8.93%7.90%7.88%6.55%，国联民生证券研究所累计占比（/营收）2024Q12024H1累计占比（/营收）2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A净手续费及佣金收入15.94%15.09%14.82%14.08%17.16%15.84%16.44%16.03%净其他非息收入13.91%15.99%14.29%14.53%14.72%15.24%10.49%11.05%投资收益5.19%11.14%9.49%9.37%21.80%15.74%13.33%12.19%公允价值变动损益7.95%3.65%3.67%3.92%-9.34%-2.89%-5.28%-3.46%汇兑净损益-0.37%-0.01%-0.02%0.04%0.99%1.08%1.01%0.81%其他净收益1.13%1.21%1.16%1.21%1.27%1.31%1.43%1.51%其他综合收益余额12.87%9.38%6.46%8.04%14.47%10.13%4.52%3.94%AC兑现0.07%0.20%0.13%0.18%5.06%2.99%2.24%1.88%OCI兑现0.47%0.66%3.30%1.71%单季度占比（/营收）2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A净手续费及佣金收入15.94%7.21%4.53%2.88%17.16%7.23%5.37%3.76%净其他非息收入13.91%9.12%3.39%3.72%14.72%7.85%-0.17%3.22%投资收益5.19%8.58%1.89%2.19%21.80%4.80%2.33%2.24%公允价值变动损益7.95%-0.28%1.18%1.14%-9.34%1.79%-3.26%0.49%汇兑净损益-0.37%0.17%-0.02%0.05%0.99%0.58%0.25%0.06%其他净收益1.13%0.65%0.33%0.33%1.27%0.67%0.52%0.44%其他综合收益6.36%3.02%0.06%3.16%-18.45%2.86%-2.56%0.57%累计同比增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A净手续费及佣金收入-24.8%-21.7%-20.6%-19.5%3.3%-0.9%2.2%6.2%净其他非息收入39.3%33.8%26.8%35.6%1.5%-10.0%-32.5%-29.1%投资净收益0.2%71.2%33.3%20.2%303.0%33.4%29.4%21.4%公允价值变动损益111.5%7.8%75.7%367.3%-212.6%-174.9%-232.6%-182.3%汇兑损益-509.7%-100.8%-102.8%-95.6%357.5%11933.3%4054.2%1987.8%其他净收益18.8%16.8%-4.7%-3.4%7.2%1.9%13.6%16.0%其他综合收益余额增速6946.0%140.9%548.1%385.1%7.9%1.9%-35.5%-54.3%单季度同比增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A净手续费及佣金收入-24.8%-17.9%-18.0%-15.2%3.3%-5.4%9.1%21.8%净其他非息收入39.3%30.0%8.4%70.2%1.5%-18.8%-104.5%-19.2%投资净收益0.2%117.3%-29.4%-8.9%303.0%-47.2%13.2%-4.8%公允价值变动损益111.5%-118.6%648.9%254.0%-212.6%697.0%-353.5%-60.2%汇兑损益-509.7%-82.3%-111.5%-71.3%357.5%216.5%1427.8%1.4%其他净收益18.8%15.2%-34.6%0.2%7.2%-2.6%42.7%22.4%单季度其他综合收益增速236.0%-20.5%103.6%249.4%-378.2%-10.6%-4055.7%-83.2%，国联民生证券研究所图5：净息差和净利差 净息差（披露值） 净利差（披露值）2.40%2.20%2.00%1.80%1.60%1.40%1.20%

1.40%1.32%1.00%，国联民生证券研究所累计（露值） 2024Q1累计（露值） 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A净息差1.54%1.54%1.40%1.40%净利差1.46%1.45%1.31%1.32%生息资产收益率3.83%3.73%3.31%3.21%计息负债成本率2.37%2.28%2.00%1.89%单季度测算） 2024Q12024Q22024Q32024Q42025Q12025Q22025Q32025Q4净息差 1.55%1.54%1.58%1.53%1.39%1.39%1.42%1.41%净利差 1.53%1.52%1.55%1.50%1.37%1.36%1.39%1.39%生息资收益率 3.91%3.77%3.71%3.61%3.36%3.23%3.18%3.10%计息负成本率 2.38%2.25%2.16%2.11%1.99%1.87%1.79%1.71%生息资平均益率 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A发放贷款4.36%4.22%3.69%3.60%投资类资产3.21%3.14%2.90%2.80%存放央行1.47%1.48%1.46%1.46%同业资产2.53%2.48%2.02%1.97%计息负平均息率 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A存款向央行借款2.26%2.18%1.92%1.81%同业负债2.59%2.42%2.04%1.92%发行债券2.56%2.48%2.23%2.15%，国联民生证券研究所分类型贷款收益率2024Q12024H1分类型贷款收益率2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A公司类贷款收益率3.95%3.85%3.41%3.29%个人贷款收益率5.16%5.01%4.39%4.28%票据贴现收益率1.43%1.21%0.89%0.87%分类型存款成本率2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A对公存款付息率2.27%2.19%1.91%1.80%对公活期付息率1.44%1.21%0.69%0.62%对公定期付息率2.75%2.64%2.37%2.24%个人存款付息率2.25%2.17%1.93%1.82%个人活期付息率0.33%0.29%0.19%0.18%个人定期付息率2.76%2.68%2.42%2.28%，国联民生证券研究所余额结构（分母为总资产）2024Q12024H1余额结构（分母为总资产）2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A生息资产90.75%90.79%90.95%90.92%91.32%91.39%91.54%91.22%贷款56.63%57.28%56.61%56.53%56.87%56.42%55.79%55.55%投资类资产33.07%32.52%32.37%31.74%31.67%32.23%33.75%33.10%FVTPL7.02%6.77%6.33%6.37%6.14%6.16%6.19%6.40%AC17.45%16.88%16.50%16.73%16.26%15.71%16.81%17.22%FVOCI8.60%8.86%9.55%8.64%9.26%10.36%10.75%9.48%存放央行4.70%4.79%4.06%4.07%4.64%4.37%3.78%4.73%同业资产3.39%2.99%4.26%4.97%4.30%4.55%4.42%4.25%同比增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产3.03%0.57%0.73%2.75%4.80%6.50%4.84%2.96%总生息资产3.79%1.51%2.57%2.16%5.46%7.21%5.51%3.30%贷款5.18%4.00%3.62%3.88%5.24%4.90%3.33%1.18%投资类资产6.61%0.34%-4.69%-1.46%0.38%5.58%9.28%7.39%FVTPL6.39%-5.81%-19.18%2.36%-8.30%-3.08%2.56%3.51%AC-2.06%-5.90%-6.66%-6.60%-2.32%-0.90%6.79%5.98%FVOCI30.24%21.81%12.85%7.00%12.94%24.53%18.04%12.97%存放央行-4.89%-3.92%-13.05%-18.88%3.47%-2.85%-2.28%19.76%同业资产-20.29%-28.42%30.85%38.43%33.02%62.02%8.89%-11.91%单季增量2024Q12024Q22024Q32024Q42025Q12025Q22025Q32025Q4总生息资产66,191-89,05991,55365,364274,04513,778-8,064-71,031贷款119,243-127533,79136,667177,048-26,880-57,127-46,725投资类资产39,238-70,75318,915-20,11380,54343,948102,492-63,831FVTPL51,283-23,955-24,6387,5208922,06765111,922AC-42,802-56,268-11,39628,17811,534-38,65776,08920,630FVOCI30,7579,47054,949-55,81168,11780,53825,752-96,383存放央行-24,889972-45,7973,79652,283-19,562-42,88566,130同业资产-16,115-30,48290,00652,541-34,93518,340-9,895-14,681，国联民生证券研究所；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。余额结构（分母为总资产）2024Q12024H1余额结构（分母为总资产）2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A负债总额91.77%91.60%91.54%91.52%91.85%91.75%91.62%91.52%计息负债90.14%89.65%89.89%89.61%90.06%89.98%89.98%90.14%存款59.80%57.67%58.41%57.99%59.05%58.76%57.98%57.25%向央行借款1.08%1.25%1.23%1.37%2.25%2.26%2.41%2.16%同业负债12.55%13.44%14.58%12.56%11.26%12.15%12.95%12.19%发行债券16.71%17.28%15.67%17.69%17.50%16.81%16.65%18.54%同比增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A负债总额2.82%0.14%0.28%2.42%4.90%6.68%4.93%2.97%总计息负债2.62%-0.18%0.15%2.02%4.72%6.90%4.95%3.57%存款0.04%-5.71%-1.57%-1.44%3.49%8.51%4.06%1.65%向央行借款-24.61%-14.42%-16.71%-4.01%118.54%92.36%105.98%61.74%同业负债-5.47%-2.12%4.91%6.62%-5.98%-3.71%-6.93%-0.08%发行债券25.16%28.43%4.19%11.99%9.79%3.60%11.40%7.94%单季增量2024Q12024Q22024Q32024Q42025Q12025Q22025Q32025Q4总计息负债104,244-12430295,28247,966274,2082,806-18,674-35,547存款30,091-204,855101,55614,367232,756-15,261-68,488-82236向央行借款-25,13610,466-53911,20967,17362810,463-19,219同业负债46,09047,83890,316-129,999-59,92565,73554,663-61,185发行债券53,19922,249-96,051152,38934,204-48,296-15,312127,093，国联民生证券研究所余额结构2024Q12024H1余额结构2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A公司存款56.20%55.02%56.65%54.04%公司定期35.58%36.17%37.40%36.96%公司活期20.62%18.86%19.25%17.07%个人存款31.97%31.68%31.55%33.19%个人定期23.49%24.21%24.22%25.89%个人活期8.48%7.46%7.33%7.30%余额增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A存款总额0.04%-5.71%-1.57%-1.44%3.49%8.51%4.06%1.65%公司存款-11.81%-8.13%9.38%-0.17%公司定期-4.28%0.52%14.08%3.90%公司活期-22.36%-21.16%1.28%-7.97%个人存款4.69%7.01%7.07%6.51%个人定期-0.92%3.39%11.86%8.69%个人活期24.17%20.75%-6.21%-0.58%，国联民生证券研究所余额结构2024Q12024H1余额结构2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A个人贷款38.33%37.68%36.63%36.84%个人住房贷款14.89%14.81%14.60%14.63%个人消费贷款4.88%5.03%5.13%5.03%经营性贷款8.64%8.29%7.79%7.92%信用卡应收账款9.92%9.55%9.11%9.26%票据贴现3.48%3.91%2.28%2.13%公司贷款58.19%58.40%61.09%61.03%制造业13.04%13.15%13.87%14.06%批发和零售业4.38%4.63%5.18%4.93%传统基建14.80%14.58%15.00%14.65%租赁和商务服务业9.19%9.59%10.48%11.47%房地产业4.27%4.01%4.04%3.92%建筑业4.29%4.09%3.94%3.66%住宿和餐饮业采矿业1.48%1.45%信息传输、软件和信息技术服务农、林、牧、渔业1.47%1.34%金融业2.66%2.88%2.98%3.01%卫生和社会工作科学研究和技术服务业余额增速2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A贷款总额5.18%4.00%3.62%3.88%5.24%4.90%3.33%1.18%个人贷款-1.69%-2.00%0.25%-1.10%个人住房贷款-2.00%-0.24%2.89%-0.10%个人消费贷款-3.98%1.15%10.33%1.09%经营性贷款22.34%8.94%-5.48%-3.29%信用卡应收账款-14.86%-13.33%-3.68%-1.89%票据贴现15.46%41.87%-31.43%-44.88%公司贷款7.46%6.08%10.13%5.73%制造业20.58%16.26%11.58%8.17%批发和零售业-8.35%2.64%23.96%7.76%传统基建6.59%2.80%6.34%1.68%租赁和商务服务业12.46%12.51%19.59%21.07%房地产业-3.49%-4.86%-0.83%-1.17%建筑业6.42%-2.68%-3.87%-9.34%住宿和餐饮业采矿业信息传输、软件和信息技术服务农、林、牧、渔业-14.36%-10.85%金融业12.28%7.57%17.28%5.52%卫生和社会工作科学研究和技术服务业，国联民生证券研究所资产质量2024Q12024H1资产质量2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A不良贷款率1.25%1.25%1.25%1.25%1.25%1.25%1.26%1.27%拨备覆盖率185.10%172.45%170.73%180.59%174.44%172.47%168.92%174.14%拨贷比2.31%2.16%2.13%2.26%2.18%2.15%2.13%2.22%贷款拨备余额90,10784,10282,84288,94489,47687,81385,66388,362非信贷拨备余额27,23827,93326,76225,024不良贷款余额48,68048,76948,52249,25251,29350,91550,71250,742关注类贷款余额77,57672,36473,33673,448逾期贷款余额85,82479,30779,48384,746逾期90天以上贷款余额44,03143,80045,72449,996重组贷款余额18,03021,95924,68424,755关注贷款率1.99%1.84%1.80%1.85%关注率+不良率3.24%3.09%3.05%3.12%逾期贷款率2.20%2.02%1.95%2.13%逾期90天以上/不良90.28%88.93%89.80%98.53%逾期1年以上/损失199.41%156.83%157.23%128.41%逾期/不良175.98%161.02%156.11%167.01%重组贷款率0.46%0.56%0.60%0.62%（重组+逾期）/贷款2.67%2.57%2.55%2.75%（重组+逾期）/不良212.95%205.61%204.59%215.80%（）1（）1.47%1.28%1.18%0.98%不良生成率2（测算核转）0.75%1.24%1.01%1.04%1.01%0.95%0.80%0.98%不良回收率0.24%0.24%0.23%0.00%不良核销转出率1（披露核转）112.2%98.0%87.2%75.1%不良核销转出率2（测算核转）49.9%93.4%78.0%79.2%64.4%69.1%59.7%75.1%非信贷拨备/非信贷资产0.94%0.92%0.85%0.79%金融投资-拨备/阶段三67.8%70.0%70.3%超额拨备/归母净利润(TTM)-98.3%-120.7%-123.2%-95.3%-107.0%-107.1%-113.2%-107.3%超额拨备/归母净资产-7.10%-8.75%-8.81%-6.76%-7.62%-7.54%-7.58%-6.89%总拨备/总资产1.64%1.68%1.58%1.58%，国联民生证券研究所信用减损失 2024Q1信用减损失 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产 10,06320,29824,64340,5658,49515,91318,79336,431贷款19,13837,81615,39936,421金融投资1,0442,365-587-1,112其他1163841,1011,122信用减损失/资产初余额 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产 0.15%0.30%0.36%0.60%0.12%0.23%0.27%0.52%贷款0.51%1.00%0.39%0.93%金融投资0.05%0.11%-0.03%-0.05%其他0.02%0.05%0.13%0.14%拨备余额 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产111,342116,874114,575113,384贷款 90,10784,10482,84288,94189,47687,81385,66388,360金融投资16,01316,65315,54714,244其他11,22511,28011,21510,780拨备余额/资余额 2024Q12024H12024Q1-32024A2025Q12025H12025Q1-32025A总资产1.64%1.68%1.58%1.58%贷款 2.31%2.16%2.13%2.26%2.18%2.15%2.13%2.22%金融投资0.72%0.75%0.67%0.60%其他1.62%1.38%1.37%1.33%，国联民生证券研究所