银行业2025中报综述:业绩筑底转正的“表”与“里”

申万宏源研究
Sep 08, 2025

上市银行中报营收、利润增速双双转正,奠定全年利润表现可持续正增的基础。根据我们核心追踪的39家上市银行,1H25营收同比增长1.0%(1Q25:-1.7%),归母净利润同比增长0.8%(1Q25:-1.2%),边际改善表观源自非息收入(行业层面中收、投资相关非息均增速转正),但根本上也体现监管层稳银行盈利的坚定决心。子板块看,国有行营收增速超预期转正、业绩降幅收窄,城农商行继续领跑。展望未来,在...

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