常熟银行2025年年报及2026年一季报点评：公告转增转股可期

关键财务指标（百万元）2024H12024Q1-3关键财务指标（百万元）2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产367,303362,743366,582389,015401,227402,230403,079419,435总贷款238,934239,686240,862249,643251,471256,764256,195269,373总负债338,912333,103335,913357,373369,268369,639369,618384,658总存款289,467292,224294,965316,692319,001320,892317,345334,383营业收入5,5068,37010,9092,9716,0629,05211,6193,171拨备前利润3,5255,3606,8261,9473,9525,9017,4192,135净利润1,8803,2104,0731,1642,1173,5834,4641,284总资产增速15.57%10.44%9.61%6.67%9.24%10.89%9.96%7.82%贷款同比增速11.30%9.69%8.28%6.12%5.25%7.13%6.37%7.90%存款同比增速16.99%17.30%15.92%9.43%10.20%9.81%7.59%5.59%营业收入同比增速12.03%11.30%10.53%10.04%10.10%8.15%6.51%6.74%核心营收同比增速6.57%6.86%8.11%3.46%3.49%5.77%5.47%6.86%净利息收入同比增速6.10%6.15%7.54%0.91%0.83%2.39%2.49%5.81%净手续费收入同比增速1684.27%260.02%158.54%495.23%637.77%364.75%332.12%41.04%其他非息收入同比增速52.94%40.26%25.95%48.84%44.64%19.98%12.20%6.27%拨备前利润同比增速22.76%18.46%10.59%12.58%12.10%10.09%8.69%9.64%归母净利润同比增速19.58%18.17%16.20%13.81%13.51%12.82%10.65%11.10%净息差（披露值）2.79%2.75%2.71%2.61%2.58%2.57%2.53%2.50%净利差（披露值）2.63%2.59%2.54%2.46%2.44%2.44%2.38%2.37%生息资产收益率（披露值）4.89%4.77%4.42%4.28%计息负债成本率（披露值）2.26%2.23%1.98%1.90%净息差（测算值）2.76%2.75%2.70%2.55%2.50%2.53%2.51%2.47%净利差（测算值）2.62%2.59%2.55%2.43%2.37%2.40%2.39%2.37%单季度净息差（测算值）2.67%2.65%2.54%2.55%2.45%2.50%2.36%2.47%单季度净利差（测算值）2.55%2.52%2.41%2.43%2.34%2.39%2.25%2.37%ROA（年化）1.07%1.23%1.16%1.23%1.10%1.24%1.16%1.25%ROE（年化）13.28%14.96%14.15%14.89%13.34%15.02%14.05%15.00%累计分红率（测算）19.77%25.27%21.22%杠杆率6.18%6.58%6.19%6.64%6.42%6.57%6.85%6.84%风险加权资产增速13.53%8.48%4.69%5.09%4.08%4.47%5.14%4.78%ROE(年化)*(1-分红率)10.51%11.84%11.34%11.94%10.69%12.04%11.06%11.81%成本收入比存贷比35.18%35.17%36.62%34.74%34.56%34.44%35.66%31.78%84.50%84.22%84.06%78.83%80.92%82.25%83.11%82.18%拨备覆盖率538.81%528.40%500.51%489.56%489.53%462.95%451.25%438.10%拨贷比4.11%4.09%3.86%3.74%3.74%3.52%3.42%3.27%不良贷款率0.76%0.77%0.77%0.76%0.76%0.76%0.76%0.75%关注贷款率1.36%1.52%1.49%1.57%1.59%逾期贷款率1.54%1.43%1.62%1.92%重组贷款率1.10%0.57%0.58%0.59%不良净新生成率（披露值）不良生成率1（披露核转）1.26%1.43%1.40%1.37%不良生成率2（测算核转）0.60%0.61%0.83%1.03%1.21%1.15%1.13%0.95%核心一级资本充足率9.92%10.58%11.18%10.78%10.73%11.14%11.60%286.43%11.35%流动性覆盖率281.61% 279.76%225.65%220.28%279.88%212.83%186.27%净稳定性资金比例155.03%156.51%160.78%162.25%161.42%股东数（户）35,03839,95836,76243,10141,25449,554 49,18645,013AC兑现/营收1.85%1.27%1.92%11.10%8.28%OCI兑现/营收1.97%1.27%3.17%1.95%AC兑现/净利润5.42%3.31%5.13%31.78%21.55%OCI兑现/净利润5.77%3.41%9.08%5.07%超额拨备/归母净利润(TTM)127.23%120.26%116.19%107.68%104.78%89.56%72.91%65.06%超额拨备/归母净资产17.18%16.27%15.47%14.37%14.20%12.33%9.80%8.62%，国联民生证券研究所累计业绩同比增速2024H12024Q1-3累计业绩同比增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1营业收入同比增速12.03%11.30%10.53%10.04%10.10%8.15%6.51%6.74%核心营收同比增速6.57%6.86%8.11%3.46%3.49%5.77%5.47%6.86%净利息收入同比增速6.10%6.15%7.54%0.91%0.83%2.39%2.49%5.81%非息收入同比增速56.59%44.17%29.07%62.01%57.26%35.28%27.29%10.04%净手续费收入同比增速1684.27%260.02%158.54%495.23%637.77%364.75%332.12%41.04%其他非息收入同比增速52.94%40.26%25.95%48.84%44.64%19.98%12.20%6.27%营业支出同比增速7.66%6.74%3.83%9.93%9.23%5.39%4.50%1.49%拨备前利润同比增速22.76%18.46%10.59%12.58%12.10%10.09%8.69%9.64%利润总额同比增速18.74%17.02%19.73%12.25%12.80%12.48%9.69%10.65%净利润同比增速19.00%18.23%16.14%13.41%12.64%11.64%9.59%10.28%归母净利润同比增速19.58%18.17%16.20%13.81%13.51%12.82%10.65%11.10%，国联民生证券研究所单季度业绩同比增速2024Q22024Q3单季度业绩同比增速2024Q22024Q32024Q42025Q12025Q22025Q32025Q42026Q1营业收入同比增速12.05%9.91%8.06%10.04%10.16%4.41%1.10%6.74%核心营收同比增速7.07%7.42%12.17%3.46%3.51%10.27%4.54%6.86%净利息收入同比增速6.59%6.26%12.05%0.91%0.76%5.49%2.82%5.81%非息收入同比增速46.70%27.87%-14.63%62.01%53.43%-0.04%-11.76%10.04%净手续费收入同比增速358.97%137.68%29.02%495.23%869.05%250.23%215.93%41.04%其他非息收入同比增速43.36%22.83%-16.46%48.84%41.31%-22.25%-26.53%6.27%营业支出同比增速9.50%4.49%-4.76%9.93%8.67%-4.22%1.55%1.49%拨备前利润同比增速24.74%11.00%-11.03%12.58%11.64%6.21%3.58%9.64%利润总额同比增速16.41%14.65%29.56%12.25%13.51%12.01%0.57%10.65%净利润同比增速18.24%17.15%9.00%13.41%11.72%10.23%1.97%10.28%归母净利润同比增速19.31%16.26%9.71%13.81%13.15%11.86%2.93%11.10%，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 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 总资产增速 核心营收同比增速30.00%25.00%20.00%15.00%10.00%5.00%0.00%-5.00%-10.00%，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50.00%40.00%30.00%20.00%10.00%0.00%-10.00%-20.00%，国联民生证券研究所图3：累计同比业绩拆分（2026Q1） 11.1%10.3%11.1%10.3%9.2%10%8%6%4%2%0%生 净 净息 息 手资 差 续产 费规 收模 入

其 税 成 拨他 金 本 备收 及 收 计支 附 入 加 比

有 净 少 归效 利 数 母税 润 股 净率 东 利净 润利润，国联民生证券研究所图4：累计同比业绩拆分（2025A） 10.2%10.6%10.2%10.6% 9.6%10%8%6%4%2%0%生 净 净 其息 息 手 他资 差 续 收产 费 支规 收模 入

税 成 拨 有 净 少 金 本 备 效 利 数 及 收 计 税 润 股 附 入 提 率 东 加 比 净 润利润，国联民生证券研究所累计ROE拆分2024H12024Q1-3累计ROE拆分2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1营业收入3.14%3.20%3.11%3.15%3.16%3.14%3.02%3.08%利息收入4.68%4.74%4.65%4.25%4.17%4.19%4.15%3.83%利息支出2.06%2.10%2.04%1.80%1.75%1.74%1.72%1.44%净利息收入2.62%2.64%2.61%2.45%2.42%2.45%2.43%2.38%净手续费收入0.01%0.02%0.02%0.07%0.07%0.10%0.09%0.10%核心营收2.63%2.67%2.63%2.53%2.49%2.56%2.53%2.48%其他非息收入0.50%0.54%0.48%0.62%0.67%0.58%0.49%0.60%营业支出1.89%1.77%1.72%1.71%1.89%1.70%1.64%1.60%税金及附加0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%业务及管理费1.10%1.13%1.14%1.09%1.09%1.08%1.08%0.98%减值损失0.77%0.63%0.57%0.60%0.78%0.60%0.55%0.59%营业利润1.25%1.43%1.39%1.43%1.27%1.44%1.38%1.49%营业外净收入-0.01%-0.01%-0.01%0.03%0.01%0.00%0.00%0.00%利润总额1.24%1.42%1.38%1.46%1.28%1.45%1.38%1.48%所得税0.17%0.19%0.22%0.23%0.18%0.21%0.22%0.23%年化ROA1.07%1.23%1.16%1.23%1.10%1.24%1.16%1.25%杠杆率12.3912.1912.1812.0812.0912.0812.1112.00年化ROE13.28%14.96%14.15%14.89%13.34%15.02%14.05%14.99%，国联民生证券研究所单季度ROE拆分2024Q22024Q3单季度ROE拆分2024Q22024Q32024Q42025Q12025Q22025Q32025Q42026Q1营业收入3.20%3.29%2.90%3.15%3.22%3.11%2.67%3.08%利息收入4.71%4.81%4.44%4.25%4.16%4.25%4.05%3.83%利息支出2.08%2.17%1.88%1.80%1.74%1.72%1.65%1.44%净利息收入2.63%2.64%2.56%2.45%2.42%2.53%2.39%2.38%净手续费收入0.01%0.05%0.02%0.07%0.07%0.17%0.06%0.10%核心营收2.64%2.69%2.58%2.53%2.49%2.69%2.45%2.48%其他非息收入0.56%0.59%0.32%0.62%0.73%0.42%0.22%0.60%营业支出2.10%1.52%1.60%1.71%2.09%1.32%1.48%1.60%税金及附加0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%业务及管理费1.12%1.16%1.20%1.09%1.11%1.06%1.07%0.98%减值损失0.96%0.35%0.38%0.60%0.96%0.24%0.39%0.59%营业利润1.10%1.77%1.30%1.43%1.13%1.79%1.19%1.49%营业外净收入-0.01%-0.01%-0.01%0.03%-0.01%0.00%-0.01%0.00%利润总额1.09%1.76%1.29%1.46%1.13%1.79%1.18%1.48%所得税0.11%0.23%0.31%0.23%0.13%0.26%0.27%0.23%年化ROA0.97%1.53%0.99%1.23%0.99%1.53%0.92%1.25%杠杆率12.3912.1912.1812.0812.0912.0812.1112.00年化ROE12.05%18.60%12.00%14.89%12.01%18.44%11.09%14.99%，国联民生证券研究所手续费收入增速2024H12024Q1-3手续费收入增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1手续费收入71.40%59.03%27.65%67.10%41.91%57.53%58.89%24.80%代理业务113.23%130.26%53.09%78.68%理财业务-100.00%托管业务支付结算业务0.31%9.08%1.52%-7.25%咨询顾问业务担保承诺业务银行卡业务-19.89%-19.31%交易业务其他手续费支出48.90%35.69%9.91%-20.48%-39.34%-37.15%-28.24%-0.08%零售AUM同比增速，国联民生证券研究所累计占比（/营收）2024H12024Q1-3累计占比（/营收）2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1净手续费及佣金收入0.35%0.78%0.76%2.38%2.34%3.34%3.10%3.15%净其他非息收入16.07%16.75%15.43%19.61%21.12%18.58%16.26%19.52%投资收益16.66%16.00%13.69%22.58%19.81%18.44%15.70%23.55%公允价值变动损益0.16%-1.37%1.40%-6.70%-2.10%-1.78%-0.76%-5.04%汇兑净损益-1.50%1.49%-0.25%2.61%1.30%0.43%0.06%0.63%其他净收益0.75%0.62%0.59%1.12%2.10%1.49%1.26%0.38%其他综合收益余额11.43%7.25%7.25%21.03%13.61%5.77%5.18%23.78%AC兑现1.85%1.27%1.92%11.10%8.28%OCI兑现1.97%1.27%3.17%1.95%单季度占比（/营收）2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1净手续费及佣金收入0.13%0.55%0.17%2.38%1.17%1.77%0.50%3.15%净其他非息收入8.96%6.18%2.58%19.61%11.50%4.44%1.78%19.52%投资收益6.56%5.04%1.42%22.58%8.75%5.17%1.33%23.55%公允价值变动损益2.41%-1.48%2.45%-6.70%1.19%-0.37%0.62%-5.04%汇兑净损益-0.34%2.48%-1.40%2.61%0.02%-0.44%-0.28%0.63%其他净收益0.33%0.13%0.11%1.12%1.54%0.08%0.10%0.38%其他综合收益-0.23%-0.26%1.68%-5.60%3.30%-3.35%0.69%4.80%累计同比增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1净手续费及佣金收入1684.3%260.0%158.5%495.2%637.8%364.7%332.1%41.0%净其他非息收入52.9%40.3%25.9%48.8%44.6%20.0%12.2%6.3%投资净收益96.0%92.5%56.0%20.6%30.9%24.6%22.1%11.4%公允价值变动损益-89.0%-132.6%-53.9%-60.6%-1515.0%-40.0%-157.8%19.9%汇兑损益-117.8%201.9%23.1%220.8%195.3%-68.8%125.2%-74.3%其他净收益-38.1%-29.8%-22.8%42.9%207.1%157.8%128.6%-64.2%其他综合收益余额增速-0.7%10.0%26.7%-2.7%31.1%-14.0%-23.9%20.7%单季度同比增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1净手续费及佣金收入359.0%137.7%29.0%495.2%869.0%250.2%215.9%41.0%净其他非息收入43.4%22.8%-16.5%48.8%41.3%-22.2%-26.5%6.3%投资净收益12.7%85.5%-41.0%20.6%46.9%10.9%0.1%11.4%公允价值变动损益1023.0%-145.7%1402.8%-60.6%-45.8%72.7%-73.0%19.9%汇兑损益-444.8%345.2%-274.8%220.8%106.8%-119.1%78.9%-74.3%其他净收益-45.1%45.2%36.0%42.9%420.6%-30.8%1.1%-64.2%单季度其他综合收益增速-108.3%73.0%155.0%-1049.0%1698.0%-1281.3%-56.4%191.5%，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）3.50%3.00%.5022.50% %.502.372%.3722.00%1.50%1.00%，国联民生证券研究所累计（露值） 2024H1累计（露值） 2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1净息差 2.79%2.75%2.71%2.61%2.58%2.57%2.53%2.50%净利差 2.63%2.59%2.54%2.46%2.44%2.44%2.38%2.37%生息资收益率 4.89%4.77%4.42%4.28%计息负成本率 2.26%2.23%1.98%1.90%单季度测算） 2024Q22024Q32024Q42025Q12025Q22025Q32025Q42026Q1净息差 2.67%2.65%2.54%2.55%2.45%2.50%2.36%2.47%净利差 2.55%2.52%2.41%2.43%2.34%2.39%2.25%2.37%生息资收益率 4.79%4.82%4.42%4.42%4.21%4.21%4.00%3.97%计息负成本率 2.24%2.30%2.00%1.99%1.87%1.83%1.75%1.60%生息资平均益率 2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1发放贷款 5.77%5.63%5.33%5.18%投资类产 3.33%3.25%2.78%2.70%存放央行 1.22%1.46%1.49%1.48%同业资产 2.07%1.91%1.78%1.76%计息负平均息率 2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1存款 2.22%2.20%1.96%1.88%向央行款 1.90%1.85%1.75%1.65%同业负债 2.58%2.25%2.21%2.13%发行债券 2.89%2.73%2.90%2.95%，国联民生证券研究所分类型贷款收益率2024H12024Q1-3分类型贷款收益率2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1公司类贷款收益率4.57%4.44%4.21%4.08%个人贷款收益率6.90%6.80%6.59%6.46%票据贴现收益率2.49%2.26%2.08%1.82%分类型存款成本率2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1对公存款付息率1.55%1.50%1.27%1.15%对公活期付息率0.59%0.55%0.46%0.42%对公定期付息率2.99%2.72%2.27%2.07%个人存款付息率2.53%2.52%2.27%2.20%个人活期付息率0.17%0.15%0.05%0.04%个人定期付息率2.83%2.81%2.53%2.45%，国联民生证券研究所余额结构（分母为总资产）2024H12024Q1-3余额结构（分母为总资产）2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1生息资产94.55%96.15%97.00%95.55%96.34%96.78%96.66%96.39%贷款65.05%66.08%65.70%64.17%62.68%63.84%63.56%64.22%投资类资产26.87%26.18%25.75%27.26%27.71%26.61%26.54%27.72%FVTPL5.58%3.96%2.91%4.32%3.51%2.94%2.88%3.15%AC13.55%13.46%13.71%12.35%12.16%11.60%12.44%11.24%FVOCI7.74%8.76%9.13%10.60%12.04%12.07%11.21%13.34%存放央行6.10%5.82%6.45%5.31%6.94%6.56%7.06%5.01%同业资产2.26%2.24%2.18%3.30%2.72%2.89%2.58%2.76%同比增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产15.57%10.44%9.61%6.67%9.24%10.89%9.96%7.82%总生息资产13.45%11.64%10.93%8.26%11.31%11.61%9.57%8.76%贷款11.30%9.69%8.28%6.12%5.25%7.13%6.37%7.90%投资类资产25.82%13.29%7.97%3.36%12.67%12.71%13.31%9.63%FVTPL66.22%-13.51%-23.52%-21.84%-31.16%-17.60%8.97%-21.48%AC12.38%9.14%3.22%-7.03%-1.99%-4.47%-0.21%-1.87%FVOCI30.31%41.34%34.98%39.99%69.89%52.83%34.98%35.70%存放央行17.31%15.95%22.15%-4.77%24.29%25.05%20.48%1.83%同业资产18.52%-12.39%35.19%109.88%31.44%43.00%30.07%-10.08%单季增量2024Q22024Q32024Q42025Q12025Q22025Q32025Q42026Q1总生息资产3,8961,5166,80016,13514,8382,72135314,648贷款3,691751.4791,1768,7811,8285,294-57013,178投资类资产-3,917-3,729-56611,6645,131-4,155-799,314FVTPL-1,022-6,118-3,7106,153-2,707-2,264-2271,588AC-1,873-9531,435-2,238768-2,1493,512-3,030FVOCI-1,0223,3431,7097,7497,070258-3,36410,755存放央行735-1,2972,516-2,9897,214-1,4522,066-7,451同业资产2,182-177-1504,876-1,937707-1,2461,179，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）2024H12024Q1-3余额结构（分母为总资产）2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1负债总额92.27%91.83%91.63%91.87%92.03%91.90%91.70%91.71%计息负债89.82%90.18%90.38%90.42%90.19%90.63%90.38%90.53%存款78.81%80.56%80.46%81.41%79.51%79.78%78.73%79.72%向央行借款2.29%2.24%2.27%2.12%2.60%2.42%2.63%3.04%同业负债5.54%4.80%5.49%5.23%6.54%7.01%7.47%5.48%发行债券3.18%2.58%2.17%1.66%1.55%1.42%1.55%2.29%同比增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1负债总额15.82%10.22%9.30%6.22%8.96%10.97%10.03%7.63%总计息负债15.79%11.40%11.26%9.02%9.69%11.43%9.95%7.94%存款16.99%17.30%15.92%9.43%10.20%9.81%7.59%5.59%向央行借款17.84%3.79%1.57%-1.45%23.89%19.43%27.55%54.47%同业负债54.07%-21.80%-11.83%29.47%28.99%62.07%49.65%12.80%发行债券-31.90%-35.08%-35.76%-29.54%-46.81%-39.04%-21.21%48.83%单季增量2024Q22024Q32024Q42025Q12025Q22025Q32025Q42026Q1总计息负债7,224-2759.0124,19020,43710,1122,659-23315,408存款552,7562,74121,7272,3091,890-3,54617,037向央行借款26-275167-402,158-7048742,175同业负债4,618-2,9362,7112445,8811,9701,895-7,140发行债券2,525-2,304-1,429-1,494-236-4985453,336，国联民生证券研究所余额结构2024H12024Q1-3余额结构2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1公司存款19.02%19.03%18.68%20.26%18.99%公司定期8.68%8.42%9.12%9.07%7.91%公司活期10.34%10.61%9.56%11.19%11.08%个人存款69.30%68.95%69.15%68.34%69.43%个人定期61.54%61.38%61.12%60.98%61.51%个人活期7.77%7.57%8.04%7.36%7.92%余额增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1存款总额16.99%17.30%15.92%9.43%10.20%9.81%7.59%3.50%公司存款-7.79%-4.19%4.77%17.42%9.40%公司定期2.66%-3.53%10.85%15.15%-6.68%公司活期-15.05%-4.71%-0.44%19.33%24.74%个人存款22.34%21.29%17.93%8.67%8.02%个人定期26.62%25.09%19.76%9.21%8.28%个人活期-3.49%-2.69%5.63%4.42%6.04%，国联民生证券研究所余额结构2024H12024Q1-3余额结构2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1个人贷款56.98%56.12%56.02%54.18%54.20%53.72%53.50%51.49%个人住房贷款5.24%5.37%5.21%5.27%个人消费贷款10.86%10.67%10.45%10.51%经营性贷款39.37%38.79%37.55%37.56%37.13%36.81%35.38%信用卡应收账款1.51%1.19%0.98%0.91%票据贴现5.91%6.67%6.67%7.20%7.79%7.89%7.81%7.21%公司贷款37.11%37.20%37.30%38.62%38.01%38.40%38.69%41.30%制造业16.79%16.76%16.08%16.27%批发和零售业4.37%4.56%4.90%4.95%传统基建3.35%3.32%3.54%3.73%租赁和商务服务业6.22%6.26%6.51%6.55%建筑业采矿业信息传输、软件和信息技术服务农、林、牧、渔业金融业卫生和社会工作科学研究和技术服务业0.76%0.71%0.69%0.74%余额增速2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1贷款总额11.30%9.69%8.28%6.12%5.25%7.13%6.37%7.90%个人贷款6.88%3.20%2.17%0.10%0.12%2.53%1.57%2.54%个人住房贷款-7.70%-0.94%4.74%4.38%个人消费贷款11.07%5.51%1.27%4.77%经营性贷款11.29%3.96%0.42%0.94%1.66%信用卡应收账款-39.23%-40.00%-31.96%-18.96%票据贴现48.39%59.53%23.81%21.28%38.62%26.59%24.49%8.05%公司贷款14.01%14.12%16.11%13.04%7.80%10.56%10.32%15.40%制造业4.71%9.34%0.80%3.25%批发和零售业23.02%25.73%18.17%15.42%传统基建5.33%8.21%11.35%19.36%租赁和商务服务业23.30%23.51%10.11%11.31%房地产业-11.73%-6.50%-4.04%11.24%建筑业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、渔业金融业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2024H12024Q1-3资产质量2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1不良贷款率0.76%0.77%0.77%0.76%0.76%0.76%0.76%0.75%拨备覆盖率538.81%528.40%500.51%489.56%489.53%462.95%451.25%438.10%拨贷比4.11%4.09%3.86%3.74%3.74%3.52%3.42%3.27%贷款拨备余额9,8209,8009,2979,2889,3959,0348,7748,851非信贷拨备余额1,2528941,0501,112不良贷款余额1,8221,8551,8581,8971,9191,9511,9442,020关注类贷款余额3,2483,6463,5933,9544,072逾期贷款余额3,6873,4344,0804,910逾期90天以上贷款余额1,5011,4591,4521,636重组贷款余额2,6341,3681,4691,507关注贷款率1.36%1.52%1.49%1.57%1.59%关注率+不良率2.12%2.29%2.26%2.33%2.35%逾期贷款率1.54%1.43%1.62%1.92%逾期90天以上/不良82.36%78.53%75.66%84.14%逾期1年以上/损失364.70%260.61%196.12%144.23%逾期/不良202.31%184.86%212.60%252.53%重组贷款率1.10%0.57%0.58%0.59%（重组+逾期）/贷款2.65%1.99%2.21%2.50%（重组+逾期）/不良346.86%258.51%289.15%330.03%（）1（）1.26%1.43%1.40%1.37%不良生成率2（测算核转）0.60%0.61%0.83%1.03%1.21%1.15%1.13%0.95%不良回收率0.67%0.60%0.19%0.24%信用成本（测算值）1.17%0.95%0.85%0.93%1.21%0.92%0.85%0.93%不良核销转出率1（披露核转）150.1%179.1%174.8%173.1%不良核销转出率2（测算核转）61.3%66.5%99.8%124.5%150.3%142.7%141.4%109.7%非信贷拨备/非信贷资产0.98%0.71%0.70%0.76%金融投资-拨备/阶段三超额拨备/归母净利润(TTM)127.2%120.3%116.2%107.7%104.8%89.6%72.9%65.1%超额拨备/归母净资产17.18%16.27%15.47%14.37%14.20%12.33%9.80%8.62%总拨备/总资产3.01%2.78%2.60%2.45%，国联民生证券研究所信用减值损失2024H12024Q1-3信用减值损失2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产1,3461,6471,9815691,4941,7252,104610贷款1,7222,7091,3341,795金融投资-462-920131139其他8719229170信用减值损失/资产期初余额2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产0.40%0.49%0.59%0.16%0.41%0.47%0.57%0.15%贷款0.77%1.22%0.55%0.75%金融投资-0.53%-1.05%0.14%0.15%其他0.35%0.78%0.09%0.54%拨备余额2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产11,07210,19110,4459,886贷款9,8209,8009,2979,2889,3959,0348,7748,851金融投资1,038581711719其他214313339392拨备余额/资产余额2024H12024Q1-32024A2025Q12025H12025Q1-32025A2026Q1总资产3.01%2.78%2.60%2.45%贷款4.11%4.09%3.86%3.72%3.74%3.52%3.42%3.29%金融投资1