房地产不良见顶回落,零售风险接棒,银行如何迎接下一场大考?

经济观察网
Oct 07, 2025

通过不良贷款的分阶段暴露、信贷结构的动态调整,以及拨备工具的灵活运用,银行体系实现了风险的“软着陆”。然而,这一模式的可持续性值得深思。拨备的“削峰填谷”功能依赖于历史积累,当前上市银行超额拨备已处于历史中间水平,未来进一步释放利润的空间有限。作者:胡群封图:图虫创意中国银行业正站在一个新老风险交汇的十字路口。国信证券于9月29日发布的研究报告《资产质量十五年 上市银行不良出清与拨备压力观察》(...

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