Bank of Ningbo (002142) investor relations material

Executive summary

• Achieved robust growth in both scale and profitability in 2025, with total assets surpassing RMB 3.6 trillion, up 16.11% year-over-year, and net profit attributable to shareholders reaching RMB 29.33 billion, up 8.13% year-over-year.

• Maintained industry-leading asset quality, with non-performing loan (NPL) ratio at 0.76% and provision coverage at 373.16%.

• Enhanced multi-center profit structure, with subsidiaries contributing more to overall earnings and further optimizing profit mix.

• Continued to be recognized as a systemically important bank in China and ranked 72nd in The Banker’s Global 1000 Banks list.

Financial highlights

• Operating income reached RMB 71.97 billion, up 8.01% year-over-year; net profit RMB 29.53 billion, up 8.48% year-over-year.

• Basic and diluted EPS were RMB 4.29, up 8.61% year-over-year.

• Net interest income grew 10.77% to RMB 53.16 billion; net interest margin declined to 1.74% (down 12bps year-over-year).

• Fee and commission net income surged 30.72% to RMB 6.09 billion, driven by strong growth in wealth management and asset management.

• Total assets RMB 3.63 trillion (+16.11%), customer loans RMB 1.73 trillion (+17.43%), customer deposits RMB 2.02 trillion (+10.27%).

• Cost-to-income ratio improved to 32.72% (down 2.8 percentage points year-over-year).

Outlook and guidance

• Expects net interest margin to remain under pressure in 2026 but with a narrower decline; aims to stabilize asset yields and further optimize liability costs.

• Anticipates continued growth in fee and commission income, with a focus on wealth management and asset management.

• Asset quality expected to remain stable, with ongoing enhancements to risk management and non-performing asset resolution.

• Capital adequacy to remain above regulatory minimums, with ongoing capital optimization and potential for further capital instrument issuance.