Shanghai Rural Commercial Bank (601825) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 2.07% YoY to RMB20.24bn and attributable net profit rose 1.06% to RMB10.68bn; balance-sheet assets expanded 6.26% from year-end.

• Growth spanned retail, corporate, inclusive, technology and green finance, while asset quality remained stable overall and profitability ratios eased YoY.

Financial highlights

• Q3 revenue was RMB6.55bn, up 2.60% YoY; attributable net profit was RMB3.61bn, up 1.44%.

• 9M net interest income increased 2.98% YoY to RMB14.89bn; non-interest income declined 0.37% to RMB5.35bn, while fee and commission income rose 3.88% to RMB1.72bn.

• 9M attributable net profit was RMB10.68bn, up 1.06%; adjusted for non-recurring items, net profit was RMB10.64bn, up 1.16%.

• 9M operating expenses fell 8.21% YoY to RMB4.94bn; credit impairment losses increased to RMB1.82bn from RMB1.18bn.

Segment performance

• Retail AUM reached RMB895.45bn, up 4.99% from year-end; personal loans excluding credit cards rose 3.45% to RMB198.03bn, with non-mortgage loans up 6.64%.

• Corporate FPA reached RMB708.97bn, up 8.44%; corporate loans grew 8.02% to RMB555.48bn and corporate deposits grew 7.82% to RMB550.98bn.

• Inclusive small-business loans totaled RMB94.13bn, up 1.40%; loan NPL ratio was 1.65%, and new 2026 loans carried a 3.59% rate, down 38 bps from year-end.

• Technology loans rose 12.56% from year-end to RMB136.48bn, serving 6,272 clients, up 8.38%.

• Green finance services reached RMB118.33bn, up 8.75%; green loans rose 14.73% to RMB78.89bn and green leasing grew 13.44% to RMB20.10bn.