China Zheshang Bank (2016) Q4 2025 earnings summary

Executive summary

• Total assets reached RMB3.48 trillion, up 4.68% year-over-year; customer deposits rose 6.30% to RMB2.04 trillion.

• Operating income was RMB62.558 billion, down 7.60% year-over-year; net profit attributable to shareholders was RMB12.931 billion, down 14.85%.

• Non-performing loan (NPL) ratio improved to 1.36%, with allowance to NPLs at 155.37%.

• Capital adequacy ratio stood at 12.12%, core tier-one at 8.40%, both above regulatory requirements.

• Proposed cash dividend of RMB1.31 per 10 shares, subject to AGM approval.

Financial highlights

• Net interest income was RMB44.459 billion, down 1.55% year-over-year; net interest margin narrowed to 1.60%.

• Net non-interest income fell 19.72% to RMB18.099 billion, mainly due to lower trading gains and fee income.

• Operating expenses increased slightly by 0.55% to RMB22.049 billion; cost-to-income ratio rose to 34.04%.

• Impairment losses decreased 13.53% to RMB24.380 billion.

• Return on average total assets was 0.40%; weighted average return on net assets was 6.80%.

Outlook and guidance

• Management expects continued macroeconomic uncertainty in 2026 but anticipates stable growth, supported by proactive fiscal and monetary policies.

• Focus remains on high-quality development, risk control, digital transformation, and supporting the real economy, especially in Zhejiang.