图表目录

图 1：累计营收、PPOP、归母净利润同比增速..........................5

图 2：累计同比业绩拆分（2024Q1~3）................................5

图 3：累计同比业绩拆分（2024H1）...................................6

图 4：单季度营收、PPOP、归母净利润同比增速........................6

图 5：单季度业绩拆分（2024Q3）.....................................7

图 6：净息差和净利差................................................9

图 7：资本充足率情况...............................................15

图 8：年化 ROE、风险加权资产增速和ROE(年化)*(1-分红率)......................15

图 9：股东数和户均持股数量（万户，万股）...........................16

表 1：关键财务指标概览（单位：百万元）..............................4

表 2：累计业绩同比增速..............................................7

表 3：单季度业绩同比增速............................................7

表 4：累计 ROE 拆分.................................................8

表 5：单季度ROE 拆分................................................8

表 6：净息差、净利差、生息资产收益率、计息负债成本率................9

表 7：生息资产情况（单位：百万元）.................................10

表 8：计息负债情况（单位：百万元）.................................10

表 9：非息收入、其他综合收益.......................................11

表 10：资产质量....................................................11

表 11：贷款情况....................................................12

表 12：存款情况....................................................12

表 13：不良贷款情况（百万元）......................................13

表 14：信用减值损失和拨备余额（百万元）............................14

表 15：手续费结构..................................................14

附：财务预测表.....................................................17

表 1：关键财务指标概览（单位：百万元）

生息资产收益率（披露值）

3.89%3.86%3.83%3.79%3.76%3.65%3.60%3.56%

计息负债成本率（披露值）1.61%1.68%1.71%1.72%1.73%1.75%1.72%1.69%

净息差（测算值）

2.52%2.42%2.35%2.34%2.29%2.09%2.11%2.09%

净利差（测算值）

2.48%2.41%2.32%2.32%2.27%2.08%2.11%2.08%

生息资产收益率（测算值）4.08%4.08%4.03%4.05%4.00%3.78%3.79%3.74%

计息负债成本率（测算值）1.59%1.67%1.71%1.74%1.73%1.70%1.69%1.67%

单季度净息差（测算值）

2.55%2.42%2.29%2.25%2.19%2.09%2.06%2.06%

单季度净利差（测算值）

2.53%2.41%2.28%2.23%2.18%2.08%2.06%2.05%

ROA（年化）

1.44%1.52%1.46%1.47%1.40%1.36%1.33%1.34%

ROE（年化）

17.06%18.43%17.55%17.38%16.22%16.08%15.44%15.38%

杠杆率

7.95%7.96%7.70%7.93%8.26%8.11%7.88%8.27%

总资产增速

9.62%11.61%10.44%9.90%8.77%9.63%7.77%9.25%

风险加权资产增速5.00%7.20%7.19%7.87%13.12%8.08%6.50%2.76%

ROE(年化)*(1-分红率)11.42%12.34%11.75%11.64%10.54%10.45%10.03%9.99%

ROE(年化)*(1-分红率)-风险加权资产增速

6.43%5.14%4.56%3.76%-2.58%2.36%3.53%7.23%

成本收入比

32.88%27.59%29.07%30.09%32.96%28.35%29.74%29.58%

存贷比80.30%81.52%79.14%80.89%79.81%80.76%77.89%77.40%

贷款同比增速

8.64%10.04%7.14%7.69%7.56%7.57%6.17%4.70%

存款同比增速

18.88%16.53%14.31%12.83%8.56%8.95%8.23%9.51%

贷款/生息资产

63.69%64.87%63.38%64.92%63.50%63.43%62.90%62.12%

存款/计息负债

85.39%84.77%85.94%86.03%85.07%84.48%86.53%86.48%

贷款较年初增量481,425284,516303,980404,087457,406306,962238,939249,886

存款较年初增量

1,205,425242,333507,693467,133649,919293,404524,626583,108

不良贷款率

0.96%0.95%0.95%0.96%0.95%0.92%0.94%0.94%

拨备覆盖率

450.79%448.32%447.63%445.86%437.70%436.82%434.42%432.15%

关注贷款率1.21%1.12%1.02%1.01%1.10%1.14%1.24%1.30%

关注率+不良率

2.17%2.07%1.97%1.97%2.05%2.06%2.18%2.24%

逾期贷款率

1.29%1.23%1.25%1.25%1.13%1.31%1.42%1.36%

逾期 90 天以上/不良

70.82%76.92%77.56%78.74%69.90%78.74%78.43%79.37%

逾期 1 年以上/损失125.33%150.43%93.83%94.76%

逾期/不良

134.96%129.13%131.46%130.23%119.47%142.58%150.69%144.67%

重组贷款率

0.20%0.22%0.20%0.21%

逾期率+重组率

1.49%1.23%1.48%1.25%1.33%1.31%1.63%1.36%

（重组+逾期）/不良155.78%129.13%154.76%130.23%140.59%142.58%173.02%144.67%

不良净新生成率（披露值）

1.15%1.09%1.04%1.03%1.03%1.03%1.02%1.02%

不良净新生成率 1（测算值）

0.76%1.01%0.79%0.43%0.79%0.96%0.78%0.47%

不良净新生成率 2（测算值）

1.07%1.19%1.06%0.91%0.69%0.88%0.85%0.75%

不良核销转出率 1（测算值）76.85%94.22%77.20%38.80%82.62%99.31%79.81%47.65%

不良核销转出率 2（测算值）

113.08%114.62%107.37%92.02%71.38%90.95%86.74%78.17%

核心一级资本充足率

13.68%13.41%13.09%13.37%13.73%14.07%13.86%14.73%

一级资本充足率15.75%15.34%14.99%15.23%16.01%16.30%16.09%16.99%

资本充足率17.77%17.39%17.09%17.38%17.88%18.20%17.95%18.67%

流动性覆盖率

164.92%168.17%172.58%159.65%159.82%160.96%171.71%170.64%

净稳定性资金比例

131.83%130.13%130.72%133.22%132.85%

股东数（户）541,363595,628607,030564,564647,881568,738537,564494,536

资料来源： ，

注：不良净生成率 1=(不良贷款增量+本期核销及转出（披露值）)/期初贷款余额；不良净生成率 2=(不良贷款增量+本期核销测算值)/期

初贷款余额；不良核销转出率 1=本期核销及转出（披露值）/期初不良贷款余额；不良核销转出率 2=本期核销测算值/期初不良贷款余额

关键财务指标

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

营业收入同比增速

4.08%-1.47%-0.35%-1.72%-1.64%-4.65%-3.09%-2.91%

拨备前利润同比增速

3.80%-3.93%-2.40%-2.77%-2.06%-6.08%-4.52%-2.66%

归母净利润同比增速

15.08%7.82%9.12%6.52%6.22%-1.96%-1.33%-0.62%

净息差（披露值）

2.40%2.29%2.23%2.19%2.15%2.02%2.00%1.99%

净利差（披露值）

2.28%2.18%2.12%2.07%2.03%1.90%1.88%1.87%

8.4%

(0.8%)

(0.6%)

图 1：累计营收、PPOP、归母净利润同比增速

累计营收、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

25.00%

20.00%

15.00%

10.00%

5.00%

-0.62%

0.00%

-5.00%

-2.91%

-2.66%

-10.00%

资料来源： ，

图 2：累计同比业绩拆分（2024Q1~3）

2024Q1~3累计业绩驱动拆分

10%

8%

6%

4%

2%

0%

-2%

-4%

-6%

-8%

生

息

资

产

规

模

净净其税成拨有净少归

息手他金本备效利数母

差续收及收

费支附入

收加比

入

计税润股净

提率东利

净润

利

润

资料来源： ，

图 3：累计同比业绩拆分（2024H1）

2024H1累计业绩驱动拆分

8%

6%

4%

2%

0%

-2%

-4%

-6%

-8%

-10%

生净净

息息手

资差续

产费

规收

模入

其税成

他金本

收及收

支附入

加比

拨有净少归

备效利数母

计税润股净

提率东利

净润

利

润

资料来源： ，

图 4：单季度营收、PPOP、归母净利润同比增速

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

40.00%

30.00%

20.00%

10.00%

0.00%

1.64%

0.79%

-2.51%

-10.00%

-20.00%

6.7%

(1.4%)

(1.3%)

图 5：单季度业绩拆分（2024Q3）

2024Q3单季度业绩驱动拆分

10%

8%

6%

4%

2%

0%

-2%

-4%

-6%

生净净其税成拨有净少归

息息手他金本备效利数母

资差续收及收计税润股净

产费支附入提率东利

规收加比净润

模入利

润

资料来源：Wind，招商证券

表 2：累计业绩同比增速

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

营业收入同比增速

4.08%-1.47%-0.35%-1.72%-1.64%-4.65%-3.09%-2.91%

净利息收入同比增速7.02%1.74%1.21%0.10%-1.63%-6.15%-4.17%-3.07%

非息收入同比增速-0.62%-6.13%-2.71%-4.59%-1.65%-2.30%-1.39%-2.63%

净手续费收入同比增速-0.18%-12.60%-11.82%-11.52%-10.78%-19.44%-18.61%-16.90%

其他非息收入同比增速-1.87%14.91%24.34%14.90%25.01%40.06%34.84%28.23%

营业支出同比增速

-1.97%-8.16%-8.25%-7.69%-9.56%-5.74%-4.91%-5.21%

拨备前利润同比增速

3.80%-3.93%-2.40%-2.77%-2.06%-6.08%-4.52%-2.66%

利润总额同比增速11.43%5.67%8.68%4.48%6.97%-3.61%-1.37%-0.82%

净利润同比增速15.28%8.03%9.19%6.47%6.25%-2.00%-1.38%-0.81%

归母净利润同比增速

15.08%7.82%9.12%6.52%6.22%-1.96%-1.33%-0.62%

资料来源：Wind，招商证券

表 3：单季度业绩同比增速

2022Q42023Q12023Q22023Q32023Q42024Q12024Q22024Q3

营业收入同比增速

0.13%-1.47%0.83%-4.58%-1.38%-4.65%-1.48%-2.51%

净利息收入同比增速

5.30%1.74%0.67%-2.11%-6.63%-6.15%-2.12%-0.83%

非息收入同比增速-10.23%-6.13%1.07%-8.86%10.97%-2.30%-0.46%-5.66%

净手续费收入同比增速-1.02%-12.60%-10.92%-10.79%-7.78%-19.44%-17.66%-12.85%

其他非息收入同比增速-32.20%14.91%33.42%-4.06%76.25%40.06%30.51%11.03%

营业支出同比增速

-8.75%-8.16%-8.33%-6.35%-15.29%-5.74%-4.08%-5.92%

拨备前利润同比增速

2.40%-3.93%-0.71%-3.61%0.94%-6.08%-2.84%1.64%

利润总额同比增速

13.36%5.67%12.09%-3.19%15.96%-3.61%1.02%0.30%

净利润同比增速18.27%8.03%10.44%1.46%5.50%-2.00%-0.74%0.33%

归母净利润同比增速

18.18%7.82%10.52%1.70%5.22%-1.96%-0.67%0.79%

8.4%

0.3%

0.8%

表 4：累计 ROE 拆分

资料来源： ，

表 5：单季度 ROE 拆分

资料来源： ，

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

营业收入3.56%3.51%3.42%3.34%3.20%3.07%3.06%2.97%

净利息收入

2.25%2.15%2.09%2.08%2.03%1.84%1.85%1.85%

净手续费收入

0.97%0.97%0.90%0.86%0.79%0.72%0.68%0.65%

其他非息收入

0.33%0.39%0.43%0.40%0.38%0.50%0.53%0.47%

营业支出1.85%1.69%1.68%1.60%1.54%1.46%1.47%1.39%

税金及附加

0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%

业务及管理费

1.17%0.97%0.99%1.00%1.06%0.87%0.91%0.88%

减值损失

0.59%0.64%0.60%0.51%0.39%0.51%0.48%0.43%

营业利润1.70%1.82%1.74%1.73%1.67%1.60%1.59%1.58%

营业外净收入

0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

利润总额

1.70%1.82%1.74%1.73%1.67%1.60%1.59%1.58%

所得税

0.27%0.30%0.28%0.26%0.27%0.24%0.25%0.24%

年化 ROA1.44%1.52%1.46%1.47%1.40%1.36%1.33%1.34%

杠杆率

11.8712.1311.9811.8011.6011.7911.5711.47

年化 ROE17.06%18.43%17.55%17.38%16.22%16.08%15.44%15.38%

2022Q42023Q12023Q22023Q32023Q42024Q12024Q22024Q3

营业收入3.30%3.51%3.37%3.15%2.98%3.07%3.06%2.81%

净利息收入

2.32%2.15%2.05%2.05%1.98%1.84%1.86%1.86%

净手续费收入

0.76%0.97%0.84%0.77%0.65%0.72%0.64%0.61%

其他非息收入

0.22%0.39%0.47%0.33%0.35%0.50%0.56%0.34%

营业支出1.82%1.69%1.68%1.44%1.41%1.46%1.49%1.24%

税金及附加

0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%

业务及管理费

1.45%0.97%1.03%1.02%1.26%0.87%0.95%0.82%

减值损失

0.28%0.64%0.57%0.33%0.06%0.51%0.45%0.33%

营业利润1.48%1.82%1.69%1.71%1.57%1.60%1.57%1.57%

营业外净收入

0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

利润总额

1.47%1.82%1.69%1.70%1.57%1.60%1.57%1.57%

所得税

0.18%0.30%0.26%0.22%0.32%0.24%0.27%0.20%

年化 ROA1.29%1.52%1.43%1.48%1.25%1.36%1.31%1.36%

杠杆率

11.8712.1311.9811.8011.6011.7911.5711.47

年化 ROE15.34%18.43%17.09%17.48%14.48%16.08%15.13%15.64%

图 6：净息差和净利差

净息差（披露值）净利差（披露值）

3.00%

2.80%

2.60%

2.40%

2.20%

2.00%

1.80%

1.60%

1.99%

1.87%

1.40%

1.20%

1.00%

资料来源： ，

表 6：净息差、净利差、生息资产收益率、计息负债成本率

累计（披露值）

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

净息差

2.40%2.29%2.23%2.19%2.15%2.02%2.00%1.99%

净利差

2.28%2.18%2.12%2.07%2.03%1.90%1.88%1.87%

生息资产收益率

3.89%3.86%3.83%3.79%3.76%3.65%3.60%3.56%

计息负债成本率

1.61%1.68%1.71%1.72%1.73%1.75%1.72%1.69%

单季度（测算值）

2022Q42023Q12023Q22023Q32023Q42024Q12024Q22024Q3

净息差

2.55%2.42%2.29%2.25%2.19%2.09%2.06%2.06%

净利差

2.53%2.41%2.28%2.23%2.18%2.08%2.06%2.05%

生息资产收益率

4.16%4.08%4.01%3.96%3.95%3.78%3.69%3.65%

计息负债成本率

1.64%1.67%1.73%1.73%1.77%1.70%1.64%1.60%

生息资产平均收益率

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

发放贷款

4.54%4.41%4.36%4.32%4.26%4.07%4.02%3.98%

投资类资产

3.24%3.27%3.25%3.22%3.22%3.17%3.14%3.11%

存放央行

1.52%1.65%1.66%1.68%1.70%1.70%1.68%1.69%

同业资产

2.09%2.75%2.80%2.67%2.80%3.09%2.99%2.87%

计息负债平均付息率

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

存款

1.52%1.59%1.61%1.62%1.62%1.63%1.60%1.58%

向央行借款

2.31%2.12%2.15%2.15%2.15%2.18%2.18%2.17%

同业负债

1.64%1.97%2.07%2.04%2.09%2.26%2.21%2.15%

发行债券

2.99%3.07%3.09%3.18%3.24%3.19%3.02%3.03%

资料来源： ，

表 7：生息资产情况（单位：百万元）

余额结构（分母为总资产）

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

贷款

59.69%60.29%59.18%60.51%59.02%59.16%58.30%57.99%

投资类资产

27.35%28.28%27.90%28.90%28.96%27.78%28.77%28.73%

FVTPL4.18%4.95%4.54%4.59%4.77%4.55%5.00%4.31%

AC15.34%15.34%15.38%15.89%15.86%15.10%15.33%15.84%

FVOCI7.83%7.99%7.97%8.42%8.33%8.13%8.44%8.59%

存放央行

5.95%5.69%5.50%5.62%6.19%7.06%5.18%5.40%

同业资产

6.23%4.97%6.63%4.06%5.08%5.30%6.92%7.01%

同比增速

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总生息资产

10.08%11.61%10.76%10.27%7.88%10.01%6.98%9.43%

贷款

8.64%10.04%7.14%7.69%7.56%7.57%6.17%4.70%

投资类资产

27.36%25.42%19.34%20.67%15.19%7.71%11.16%8.61%

FVTPL21.64%17.59%15.12%3.65%24.25%0.77%18.76%2.58%

AC31.17%30.80%22.70%23.64%12.44%7.95%7.39%8.89%

FVOCI23.44%20.85%15.64%26.23%15.75%11.56%14.09%11.37%

存放央行

6.31%-2.84%0.98%0.25%13.23%36.09%1.47%4.92%

同业资产

-20.99%-11.07%20.96%-8.47%-11.22%17.11%12.51%88.70%

单季增量

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总生息资产

484,208266,354259,802-84,216306,672495,827-18,409153,100

贷款

57,085284,51619,464100,10753,319306,962-68,02310,947

投资类资产

217,297199,04024,18887,549110,4546,942129,41218,634

FVTPL-48,78597,192-32,9431,76336,666-1,45954,544-77,143

AC184,07556,07040,20243,79353,502-9,43034,28072,303

FVOCI82,00745,77816,92941,99320,28617,83140,58823,474

存放央行

4,549-5,387-6,7859,11482,833130,538-213,82029,951

同业资产

158,689-109,784189,861-278,839127,87350,394189,60816,047

资料来源： ，

备注：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 为以公允

价值计量且其变动计入其他综合收益的金融资产或者（其他债权投资+其他权益工具投资）。

表 8：计息负债情况（单位：百万元）

余额结构

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

存款

74.87%74.54%75.40%75.53%74.72%74.08%75.73%75.71%

向央行借款

1.28%1.86%1.47%2.10%3.43%2.21%1.95%2.25%

同业负债

9.33%9.00%8.39%7.91%8.08%8.70%7.45%7.55%

发行债券

2.21%2.53%2.48%2.25%1.60%2.70%2.39%2.03%

同比增速

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总计息负债

10.12%12.73%10.77%10.92%8.96%9.33%7.49%8.93%

存款

18.88%16.53%14.31%12.83%8.56%8.95%8.23%9.51%

向央行借款

-18.90%15.21%10.81%51.98%191.82%30.31%42.49%17.01%

同业负债

-12.55%2.05%-4.33%-8.18%-5.80%5.94%-4.25%4.30%

发行债券

-49.89%-29.75%-21.39%1.85%-21.11%17.36%3.95%-1.64%

单季增量

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总计息负债

445,848349,922183,715-57,304320,350415,64727,55972,814

存款

449,095242,333265,360-40,560182,786293,404231,22258,482

向央行借款

-17,87465,377-36,94066,165154,274-124,351-28,87437,114

同业负债

26,595561-45,052-57,25146,873111,612-139,55617,331

发行债券

-11,96841,651347-25,658-63,583134,982-35,233-40,113

资料来源： ，

表 9：非息收入、其他综合收益

累计占比（/营收）

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

净手续费及佣金收入

27.34%27.67%26.39%25.75%24.80%23.38%22.16%22.04%

投资收益

5.96%7.25%6.95%6.69%6.54%11.00%11.27%9.76%

公允价值变动损益

-0.78%-0.10%1.02%0.51%0.54%0.49%1.32%1.23%

汇兑净损益

1.04%0.86%1.39%1.26%1.22%1.23%1.13%0.78%

其他业务收入

3.14%3.19%3.18%3.43%3.60%3.73%3.72%3.95%

其他综合收益

4.05%11.83%8.77%4.85%4.92%24.51%15.88%12.41%

单季度占比（/营收）

2022Q42023Q12023Q22023Q32023Q42024Q12024Q22024Q3

净手续费及佣金收入

5.37%27.67%12.33%7.66%5.04%23.38%10.48%6.88%

投资收益

1.35%7.25%3.27%1.92%1.41%11.00%5.78%2.04%

公允价值变动损益

-0.75%-0.10%1.07%-0.18%0.15%0.49%1.08%0.32%

汇兑净损益

0.13%0.86%0.95%0.31%0.25%1.23%0.51%0.01%

其他业务收入

0.82%3.19%1.56%1.25%0.96%3.73%1.86%1.40%

其他综合收益

-0.65%11.83%2.77%-1.16%1.20%24.51%3.64%1.54%

资料来源： ，

表 10：资产质量（百万元）

拨贷比

4.32%4.27%4.27%4.27%4.14%4.01%4.08%4.06%

不良贷款余额58,00460,30260,64161,79461,57962,63063,42763,557

关注类贷款余额73,47070,74865,13265,19671,32878,01783,33788,131

逾期贷款余额

78,28577,87079,72180,47773,56889,30095,57791,950

逾期 90 天以上贷款余额

41,07846,38647,03548,65743,04249,31549,74450,442

重组贷款余额

12,07614,13013,00714,166

关注贷款率

1.21%1.12%1.02%1.01%1.10%1.14%1.24%1.30%

关注率+不良率

2.17%2.07%1.97%1.97%2.05%2.06%2.18%2.24%

逾期贷款率

1.29%1.23%1.25%1.25%1.13%1.31%1.42%1.36%

逾期 90 天以上/不良

70.82%76.92%77.56%78.74%69.90%78.74%78.43%79.37%

逾期 1 年以上/损失

125.33%150.43%93.83%94.76%

逾期/不良

134.96%129.13%131.46%130.23%119.47%142.58%150.69%144.67%

重组贷款率0.20%0.22%0.20%0.21%

（重组+逾期）/贷款1.49%1.23%1.48%1.25%1.33%1.31%1.63%1.36%

（重组+逾期）/不良155.78%129.13%154.76%130.23%140.59%142.58%173.02%144.67%

不良净新生成率（披露值）

1.15%1.09%1.04%1.03%1.03%1.03%1.02%1.02%

不良净新生成率 1（测算值）

0.76%1.01%0.79%0.43%0.79%0.96%0.78%0.47%

不良净新生成率 2（测算值）

1.07%1.19%1.06%0.91%0.69%0.88%0.85%0.75%

不良核销转出率 1（测算值）76.85%94.22%77.20%38.80%82.62%99.31%79.81%47.65%

不良核销转出率 2（测算值）113.08%114.62%107.37%92.02%71.38%90.95%86.74%78.17%

资料来源：Wind，招商证券

资产质量2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

不良贷款率

拨备覆盖率

0.96%0.95%0.95%0.96%0.95%0.92%0.94%0.94%

450.79%448.32%447.63%445.86%437.70%436.82%434.42%432.15%

表 11：贷款情况

住房按揭贷款

22.96%21.54%21.69%21.05%21.29%19.98%20.38%20.29%

消费贷款

3.34%3.91%4.62%4.63%5.20%5.60%5.79%

经营性贷款

10.43%10.71%11.19%11.39%11.54%11.63%11.97%12.03%

信用卡贷款14.62%13.92%14.25%14.25%14.38%13.45%13.63%13.71%

票据贴现

8.49%8.61%7.07%8.10%7.24%7.68%6.44%6.08%

公司贷款

39.26%40.29%40.55%39.41%39.94%40.96%41.08%41.04%

制造业

7.70%8.03%8.65%8.08%8.87%8.82%9.03%9.05%

批发和零售业

2.99%3.03%2.91%2.74%3.04%3.10%3.09%3.05%

传统基建

12.73%10.56%12.91%10.20%12.73%10.60%13.00%10.86%

房地产业6.21%5.29%5.60%4.64%5.02%4.56%5.04%4.35%

租赁和商务服务业2.67%2.44%2.94%2.58%2.96%2.55%2.97%2.55%

建筑业

1.75%1.80%1.85%1.76%1.71%1.98%2.00%1.89%

余额增速

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

个人贷款

5.82%7.01%7.74%7.11%8.73%8.12%6.36%5.47%

住房按揭贷款

1.08%-0.67%-0.68%-0.27%-0.23%-0.23%0.89%

消费贷款44.66%49.11%43.26%31.28%

经营性贷款12.31%14.83%16.58%19.06%16.83%13.57%10.63%

信用卡贷款5.25%7.06%6.01%5.81%3.93%1.50%0.78%

票据贴现

19.19%10.03%-16.90%-4.07%-8.35%-4.03%-3.17%-21.44%

公司贷款

10.45%14.13%11.98%11.31%9.44%9.36%7.57%9.05%

制造业

39.69%50.18%43.79%23.90%18.21%10.85%17.27%

批发和零售业22.70%25.91%10.79%9.42%10.20%12.79%16.60%

传统基建9.16%15.23%11.81%7.61%7.91%6.91%11.45%

房地产业-6.40%-8.20%-10.44%-13.12%-7.27%-4.45%-1.79%

租赁和商务服务业

-7.44%-4.84%3.15%19.12%12.64%7.07%3.28%

建筑业

-12.54%-8.57%-6.89%5.13%17.81%14.34%12.35%

资料来源： ，

表 12：存款情况

余额结构

公司存款63.95%63.22%58.81%58.73%57.82%57.15%56.08%55.95%

2021A2022H12022A2023H12023Q1-32023A2024H12024Q1-3

公司定期

22.15%23.37%22.15%23.89%25.07%24.72%25.12%27.65%

公司活期

41.80%39.85%36.66%34.84%32.76%32.43%30.96%28.30%

个人存款

36.05%36.78%41.19%41.27%42.18%42.85%43.92%44.05%

个人定期

11.51%13.05%14.87%17.58%19.46%20.42%22.92%23.65%

个人活期

24.54%23.73%26.32%23.70%22.71%22.43%21.00%20.40%

余额增速

2021A2022H12022A2023H12023Q1-32023A2024H12024Q1-3

公司存款

12.88%15.99%9.18%6.00%5.16%5.17%3.02%5.88%

公司定期

9.04%18.98%18.69%16.62%13.18%20.79%13.44%20.71%

公司活期

15.03%14.31%4.14%-0.23%-0.26%-4.27%-4.12%-5.44%

个人存款

12.57%20.68%35.66%28.06%24.57%12.59%14.79%14.28%

个人定期

15.53%46.47%53.48%53.74%56.92%48.58%40.64%32.95%

个人活期

11.23%10.03%27.31%13.94%5.89%-7.75%-4.38%-1.75%

资料来源： ，

余额结构2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

个人贷款

52.25%51.10%52.39%52.49%52.82%51.35%52.48%52.88%

表 13：不良贷款情况（百万元）

不良率

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

个人贷款

0.89%0.84%0.89%0.90%0.94%

个人住房贷款

0.35%0.35%0.37%0.40%

个人消费贷款

1.09%1.04%

经营性贷款

0.64%0.62%0.56%0.55%0.61%0.60%0.63%0.65%

信用卡应收账款

1.77%1.68%1.75%1.78%

票据贴现

对公贷款

1.26%1.25%1.27%1.26%1.19%1.09%1.13%1.05%

制造业

1.03%0.93%0.70%0.69%0.53%0.47%0.48%0.46%

批发和零售业

1.02%0.89%0.73%0.84%0.67%0.66%0.68%0.68%

交通运输、仓储和邮政业

0.19%0.15%0.20%0.34%0.34%0.29%0.27%0.29%

电力、热力、燃气及水生产和供应业

0.22%0.20%0.21%0.23%0.16%0.17%0.14%0.20%

水利、环境和公共设施管理业

0.15%0.27%0.18%0.23%0.23%0.22%0.88%0.36%

房地产业

4.08%4.55%5.52%5.31%5.26%4.82%5.12%4.80%

租赁和商务服务业

1.10%1.10%0.82%0.89%0.76%0.85%0.76%0.50%

建筑业

0.41%0.40%0.35%0.40%0.30%0.60%0.67%1.13%

资料来源：Wind，招商证券

不良贷款额

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

个人贷款

28,04329,01927,97527,24230,58726,48232,04225,559

个人住房贷款

4,9044,8655,1225,521

个人消费贷款

3,2853,930

经营性贷款

4,0314,2333,9774,0264,5924,7725,0625,265

信用卡应收账款

15,65015,20116,38316,394

票据贴现

对公贷款

29,96128,29332,66628,44030,99227,17631,38526,368

制造业

4,7814,7423,8663,6073,0632,8132,9202,841

批发和零售业

1,8361,7071,3481,4851,3301,4031,4141,398

交通运输、仓储和邮政业

9486281,0131,4641,7391,3081,4001,274

电力、热力、燃气及水生产和供应业

468360520452443408417511

水利、环境和公共设施管理业

1001561178210177372121

房地产业

15,34815,24419,64415,91117,18314,99817,39614,131

租赁和商务服务业

1,7841,7031,5341,4801,4701,4751,514858

建筑业

4354534114503338028991,442

表 14：信用减值损失和拨备余额（百万元）

信用减值损失

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总资产

57,56616,42131,20939,89541,46914,26726,93636,357

贷款

45,15716,55027,29141,46646,63513,27125,43336,270

金融投资

3,8791,413-218-1,058

其他

8,5302,505-4,9482,561

信用减值损失/资产期初余额

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总资产

0.62%0.16%0.31%0.39%0.41%0.13%0.24%0.33%

贷款

0.81%0.27%0.45%0.69%0.77%0.20%0.39%0.56%

金融投资

0.18%0.05%-0.01%-0.03%

其他

0.57%0.19%-0.38%0.19%

拨备余额

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总资产

324,463334,422326,319331,535

贷款

261,476271,447269,534275,539

金融投资

49,98848,71346,20245,260

其他

12,99914,26210,58310,736

拨备余额/资产余额

2022A2023Q12023H12023Q1-32023A2024Q12024H12024Q1-3

总资产

3.20%3.11%2.96%2.86%

贷款

4.32%4.27%4.14%4.08%

金融投资

1.80%1.63%1.45%1.36%

其他

0.99%1.03%0.80%0.72%

资料来源： ，

表 15：手续费结构

代理业务103.08%

90.05%29.00%-8.13%-13.78%-10.21%-7.89%-32.51%

理财业务

托管业务-52.70%

-43.73%46.16%23.00%12.03%-5.16%-7.92%-6.27%

支付结算业务10.09%

14.38%9.89%7.45%8.26%-0.23%2.93%0.74%

咨询顾问业务

担保承诺业务-1.89%

5.42%2.10%-8.75%-8.99%-12.66%-13.14%-19.87%

银行卡业务

-0.23%-0.89%13.94%10.44%-6.12%-8.76%-14.10%

交易业务

其他110.26%

303.92%13.08%0.14%13.51%-37.54%-37.16%-16.41%

手续费支出-4.71%

12.24%9.35%12.21%15.58%0.90%-4.08%-0.54%

零售AUM 同比增速19.32%

20.84%20.33%17.35%12.46%9.58%10.09%10.62%

资料来源： ，

手续费收入增速2020A2021H12021A2022H12022A2023H12023A2024H1

手续费收入

9.66%22.79%18.04%2.87%1.03%-10.89%-10.19%-17.11%

图 7：资本充足率情况

核心一级资本充足率一级资本充足率资本充足率

20.00%

18.00%

16.00%

14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

资料来源： ，

图 8：年化 ROE、风险加权资产增速和 ROE(年化)*(1-分红率)

ROE（年化）风险加权资产增速ROE(年化)*(1-分红率)

25.00%

20.00%

15.00%

15.38%

10.00%

9.99%

5.00%

2.76%

0.00%

资料来源： ，

18.67%

16.99%

14.73%

图 9：股东数和户均持股数量（万户，万股）

股东数（万户）户均持股数量（流通股，万股，右轴）

70.0110.00

60.01

50.01

40.01

30.01

20.01

10.01

9.00

8.00

7.00

6.00

5.00

4.00

3.00

2.00

1.00

0.01-

资料来源： ，