With its asset scale soaring to the 3 trillion yuan mark, Nanjing Bank has delivered a rather &#34;aggressive&#34; performance report for 2025.
On January 22, Nanjing Bank released its performance report for 2025. The data shows that the bank achieved an operating income of 55.54 billion yuan for the year, a year-on-year increase of 10.48%, and a net profit attributable to shareholders of 21.807 billion yuan, a year-on-year increase of 8.08%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/17cb466a-466f-46cc-945e-90bfdac87f5e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/17cb466a-466f-46cc-945e-90bfdac87f5e.png"/><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ede68040-caa3-43f4-b7cb-4e90cca15584.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ede68040-caa3-43f4-b7cb-4e90cca15584.png"/>
However, beneath the surface of increasing revenue and net profit, earnings per share have seen a reverse decline, dropping 3.83% year-on-year to 1.76 yuan.
This divergence stems from the rapid expansion of equity—during the period, the number of ordinary shares increased from 11.068 billion shares to 12.364 billion shares, an increase of 11.71%. Although the private placement has supplemented the ammunition, it has also significantly diluted shareholder returns.
The most striking data lies in the rapid expansion of the balance sheet.
As of the end of 2025, Nanjing Bank's total assets surpassed the 3 trillion yuan mark, reaching 3,022.424 billion yuan, with an increase of 16.63%;
This growth rate appears particularly aggressive among listed banks;
Among them, total deposits and loans grew by 11.67% and 13.37%, respectively, with both corporate deposits and loans firmly standing at over 1 trillion yuan.
This scale-driven characteristic is validated in the revenue structure; against the backdrop of generally pressured industry interest margins, Nanjing Bank's net interest income surged by 31.08% year-on-year, reaching 34.902 billion yuan.
The rare high growth is attributed, on one hand, to the double-digit expansion of interest-earning assets, and on the other hand, to a structural tilt in credit allocation;
Data shows that the balance growth rates for financial technology, green finance, and inclusive micro-loans were 19.49%, 30.08%, and 17.46%, respectively, all significantly outpacing the overall loan growth rate.
It is noteworthy that while net interest income skyrocketed, the bank's capital consumption has also accelerated.
Despite completing the private placement, its core Tier 1 capital adequacy ratio has not increased but instead decreased, slightly down by 0.05 percentage points to 9.31% compared to the beginning of the year. This indicates that the 16.63% asset expansion rate is approaching the limits of endogenous capital accumulation.
Finding a balance between scale demands and capital constraints will be a core challenge for management going forward.
In terms of asset quality, Nanjing Bank has maintained consistent stability, with a non-performing loan ratio remaining low at 0.83%.
However, there has been a noticeable marginal change in the provision coverage ratio. The end-of-period provision coverage ratio was 313.31%, still within a safe range, but significantly down by 21.96 percentage points compared to the beginning of the year;
Against the backdrop of a 30% surge in net interest income, the decline in the provision coverage ratio may suggest a certain trade-off between profit release and risk compensation for the bank
As the &#34;second curve&#34; of transformation, retail business also crossed an important threshold in 2025.
Retail customer AUM (Assets Under Management) surpassed one trillion for the first time, reaching 1,002.5 billion yuan, a year-on-year increase of 21.23%. Among them, private banking AUM grew nearly 23%, and the number of mobile banking users surged nearly 30% after the launch of version 8.0.
In addition, as a &#34;debt market tough guy&#34; among city commercial banks, Nanjing Bank's underwriting scale of non-financial corporate debt financing instruments exceeded 270 billion yuan, ranking first in Jiangsu Province for eight consecutive years;
During the interest rate down cycle, the moat effect of this light capital business remains solid.
Overall, this is a typical answer sheet of &#34;scale for growth.&#34;
Nanjing Bank leveraged regional advantages and policy windows to achieve high revenue growth through rapid expansion of its balance sheet, but it also faces the real challenges of declining capital efficiency and diluted earnings per share.
At the new starting point of 3 trillion, the market may be more eager to see its substantial leap from &#34;expanding scale&#34; to &#34;improving efficiency.&#34;

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