Shanghai Rural Commercial Bank (601825) Q4 2025 earnings summary

Executive summary

• Achieved total operating income of RMB 25.87 billion, down 2.89% year-over-year; net profit attributable to shareholders was RMB 12.31 billion, up 0.20% year-over-year.

• Total assets reached RMB 1.59 trillion, up 6.71% from the previous year; loans and advances grew 2.35% to RMB 773.0 billion.

• Asset quality remained stable with NPL ratio at 0.96%, and provision coverage at 328.87%.

• Capital adequacy ratio stood at 16.81%, with core tier-one capital adequacy at 14.44%.

• Cash dividend payout ratio was 34.07%, with total cash dividends distributed of RMB 4.20 billion.

Financial highlights

• Net interest income was RMB 19.32 billion, down 3.93% year-over-year; net interest margin declined to 1.37%.

• Non-interest net income increased 0.29% to RMB 6.55 billion, accounting for 25.33% of operating income.

• Cost-to-income ratio was 32.99%, down 0.31 percentage points year-over-year.

• Basic and diluted EPS were RMB 1.28.

• Return on average assets (ROA) was 0.82%; return on average equity (ROE) was 9.74%.

Outlook and guidance

• Management expects continued pressure on net interest margin due to low interest rate environment and subdued credit demand.

• Plans to strengthen asset-liability management, optimize loan structure, and enhance non-interest income.

• Focus on digital transformation, risk management, and capital efficiency to support high-quality growth.

• Strategic priorities include deepening retail transformation, expanding green and technology finance, and supporting rural revitalization.