告别“息差躺赢”,9家股份行的非息账本藏着哪些变量?

财经观察站
Nov 18, 2025

过去很长一段时间,息差是银行最确定的收益来源,也是穿越周期的重要缓冲带。但2025年,利率下行、资产端收益压缩,再加上存款利率不好动、贷款利率压得低,银行赚息差的空间被越挤越小,让银行越来越难靠“躺赚息差”支撑增长。原本稳健的利差模式,正在失去确定性。在这种背景下,资本和资产,成了压住阵脚的两个关键。资本不是刚好够就行了,还得能支撑扩张、扛得住波动;资产也不光看不良率,背后还有拨备够不够厚、有没有...

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