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30 家 上 市 银 行 综 述 2023 年 业 绩 快 报：营 收 压 力 分 化 与 收 敛，资 产 质 量 稳 健 行业名称 银行 证 券 研 究 报 告/专题研究报告 2024 年 04 月 07 日 S0740517030004 Email S0740519050002 Email S0740523110002 Email Table_Profit 42()76,522()19,654 Table_QuotePic-Table_Report()EPS PE PEG 2023 2024E 2025E 2026E 2023 2024E 2025E 2026E 7.92 1.65 1.92 2.18 2.18 4.80 4.13 3.63 3.63 4.29 0.76 0.75 0.74 0.75 5.64 5.72 5.80 5.72 32.23 5.75 5.96 6.12 6.20 5.61 5.41 5.27 5.20 21.18 3.75 4.10 4.60 4.60 5.65 5.17 4.60 4.60 7.15 1.26 1.39 1.53 1.53 5.67 5.14 4.67 4.67 2024/04/03-3.8%+1.1%1-3.8%22 4 4 2 21 4 9bp 10bp 3 4 1.1%1-3 0.9 9/30 1 30 11.3%3 0.6 2023 2 11.9%3 3+11.2%1 1.27%3 0.48%3 5bp 11bp 16/32bp 2 21 1.25%5bp 10bp 1.70%4bp 3 2.1 242%1 2023 32.23%2022 1.68 2 2023/11.46%/13.16%/16.57%24/27/38 bp 3-23.00%-18.00%-13.00%-8.00%-3.00%2.00%7.00%12.00%银行(申万)沪深300-2-beta WUBYwPrMpMrQsMnOnQrOrQ6MbP7NoMpPoMsOlOnNtPfQmMzR7NmNrNuOmMqNMYpNuM-3-3.8%+1.1%.-4-1.1.-4-1.2 15%+.-10-.-13-2.1+11.3%+11.5%“”.-13-2.2+11.9%+11.0%.-16-.-19-3.1.-19-3.2 5bp 1.25%.-22-3.3 2 242%.-23-.-25-4.1.-25-4.2.-25-4.3.-27-.-28-4-23 30 6 9 10 10/17 5 5/10 21-3.8%+1.1%1.1 1-3.8%30-3.8%1-3 0.4 2022 4 12%图表：上市银行营收 情况（亿元）亿元 2021 1Q22 1H22 3Q22 2022 1Q23 1H23 3Q23 2023营收工商银行 9428 2495 4873 7114 9180 2276 4475 6513 8431建设银行 8242 2322 4360 6305 8225 2071 4003 5884 7697农业银行 7199 2059 3872 5646 7249 1894 3658 5334 6948中国银行 6056 1611 3133 4678 6180 1658 3192 4706 6229交通银行 2694 736 1434 2101 2730 671 1372 1989 2576邮储银行 3188 852 1735 2569 3350 882 1770 2601 3425招商银行 3313 920 1791 2648 3448 906 1785 2603 3391中信银行 2046 540 1084 1604 2114 514 1062 1562 2059浦发银行 1910 500 986 1437 1886 481 912 1328 1734民生银行 1688 366 742 1086 1425 368 715 1063 1408兴业银行 2212 594 1159 1709 2224 554 1110 1613 2108光大银行 1528 388 785 1173 1516 382 765 1122 1457华夏银行 959 240 485 730 938 231 476 711 932平安银行 1694 462 920 1383 1799 451 886 1276 1647浙商银行 545 154 317 477 611 158 332 497 637宁波银行 528 153 294 448 579 166 321 472 616杭州银行 294 88 173 261 329 94 184 274 350上海银行 562 142 279 417 531 132 264 393 506长沙银行 209 54 113 173 229 61 126 188 248青岛银行 111 27 62 95 116 31 64 97 125郑州银行 148 34 76 117 151 33 69 105 137厦门银行 53 14 29 44 59 14 30 43 56齐鲁银行 102 26 55 84 111 29 61 91 120兰州银行 78 18 38 57 75 20 41 62 80重庆银行 145 32 68 107 135 32 70 102 132江阴银行 34 10 20 30 38 10 21 30 39无锡银行 43 12 23 35 45 12 24 35 45常熟银行 77 21 44 67 88 24 49 75 99瑞丰银行 33 8 17 27 35 9 19 29 38渝农商行 308 76 153 226 290 73 149 219 280上市银行 55425 14954 29118 42846 55683 14237 28003 41018 53550国有行 36806 10075 19405 28414 36913 9451 18468 27027 35306股份行 15893 4164 8268 12246 15961 4044 8044 11776 15374城商行 2230 587 1186 1803 2314 612 1229 1827 2369农商行 495 128 258 384 496 129 261 388 500rEOWxo0yx+eih0sIfd6B2MiCYydMK33bsDsO0TSEcfYIIJr3qpctaXQNN8rAYkPV-5-资料来源：公司 财报，中泰证 券研 究所图表：上市银行营收 累积 同比及单季同比增速 情况 2021 1Q22 1H22 3Q22 2022 1Q23 1H23 3Q23 2023营收累积同比增速 累积同比环比变动工商银行 6.8%6.5%4.2%-0.1%-2.6%-8.8%-8.2%-8.5%-8.2%0.3%建设银行 9.0%7.3%4.7%1.0%-0.2%-10.8%-8.2%-6.7%-6.4%0.3%农业银行 9.4%5.9%5.9%3.6%0.7%-8.1%-5.5%-5.5%-4.1%1.4%中国银行 7.1%2.1%3.4%2.6%2.1%2.9%1.9%0.6%0.8%0.2%交通银行 9.4%7.7%7.1%5.1%1.3%-8.9%-4.3%-5.3%-5.6%-0.3%邮储银行 11.4%10.1%10.0%7.8%5.1%3.5%2.0%1.2%2.3%1.0%招商银行 14.0%8.5%6.1%5.3%4.1%-1.5%-0.4%-1.7%-1.6%0.1%中信银行 5.0%4.1%2.7%3.4%3.3%-4.9%-2.0%-2.6%-2.6%0.0%浦发银行-2.8%1.0%1.3%0.1%-1.2%-3.8%-7.5%-7.6%-8.1%-0.5%民生银行-8.7%-14.9%-15.5%-16.9%-15.6%0.4%-3.6%-2.1%-1.2%0.9%兴业银行 8.9%6.7%6.3%4.1%0.5%-6.7%-4.1%-5.6%-5.2%0.4%光大银行 7.2%0.2%1.8%0.4%-0.7%-1.6%-2.5%-4.3%-3.9%0.4%华夏银行 0.6%1.6%0.7%0.6%-2.2%-3.7%-1.7%-2.5%-0.6%1.9%平安银行 10.3%10.6%8.7%8.7%6.2%-2.4%-3.7%-7.7%-8.4%-0.8%浙商银行 14.2%18.4%22.5%18.1%12.1%2.5%4.7%4.1%4.3%0.2%宁波银行 28.4%15.4%17.6%15.2%9.7%8.5%9.3%5.5%6.4%0.9%杭州银行 18.4%15.7%16.3%16.5%12.2%7.5%6.1%5.3%6.3%1.1%上海银行 10.8%2.9%0.9%0.5%-5.5%-7.1%-5.7%-5.8%-4.8%1.0%长沙银行 15.8%12.0%8.7%10.2%9.6%12.9%12.1%8.4%8.5%0.0%青岛银行 5.6%-5.7%16.6%16.3%4.6%15.5%2.5%1.8%7.1%5.3%郑州银行 1.3%7.1%8.9%12.3%2.0%-3.0%-8.5%-10.6%-9.5%1.1%厦门银行-4.3%18.2%18.2%15.4%10.9%5.0%3.6%-3.5%-4.8%-1.3%齐鲁银行 28.1%18.0%19.1%17.2%8.8%8.7%10.9%8.2%8.0%-0.2%兰州银行 7.3%-0.6%-3.0%-5.0%-4.9%12.0%9.0%9.8%7.6%-2.2%重庆银行 11.2%-12.9%-7.0%-4.7%-7.2%1.5%3.1%-3.8%-1.9%2.0%江阴银行 0.5%22.3%26.0%21.9%12.3%4.0%1.2%0.4%2.3%1.8%无锡银行 11.6%9.1%6.7%6.6%3.0%3.6%2.8%0.9%1.3%0.4%常熟银行 16.3%19.3%18.9%18.6%15.1%13.3%12.4%12.5%12.1%-0.5%瑞丰银行 10.0%12.6%13.4%10.6%6.5%8.1%8.2%7.1%7.9%0.8%渝农商行 9.4%1.3%1.0%-2.2%-6.0%-3.3%-3.0%-2.9%-3.6%-0.7%上市银行 7.8%5.5%4.7%2.5%0.5%-4.8%-3.8%-4.3%-3.8%0.4%国有行 8.4%6.2%5.2%2.4%0.3%-6.2%-4.8%-4.9%-4.4%0.5%股份行 5.3%3.6%2.8%1.9%0.4%-2.9%-2.7%-3.8%-3.7%0.2%城商行 15.1%8.1%9.4%9.1%3.8%4.3%3.6%1.4%2.4%1.0%农商行 10.0%6.9%6.7%4.2%0.1%1.5%1.2%1.1%0.9%-0.2%营收单季同比增速 单季同比环比变动工商银行 6.5%1.8%-8.3%-10.4%-8.8%-7.5%-9.1%-7.2%1.9%建设银行 7.3%2.0%-6.5%-4.0%-10.8%-5.2%-3.3%-5.5%-2.3%农业银行 5.9%5.9%-1.1%-8.4%-8.1%-2.7%-5.5%0.8%6.3%中国银行 2.1%4.8%1.0%0.5%2.9%0.8%-2.0%1.4%3.4%交通银行 7.7%6.4%0.9%-9.4%-8.9%0.4%-7.4%-6.7%0.8%邮储银行 10.1%9.9%3.4%-3.0%3.5%0.6%-0.4%5.6%6.0%招商银行 8.5%3.7%3.7%0.1%-1.5%0.8%-4.6%-1.4%3.2%中信银行 4.1%1.3%4.9%3.3%-4.9%0.8%-3.8%-2.5%1.3%浦发银行 1.0%1.7%-2.3%-5.4%-3.8%-11.3%-7.7%-9.6%-2.0%民生银行-14.9%-16.0%-19.7%-11.2%0.4%-7.5%1.1%1.9%0.8%兴业银行 6.7%5.9%-0.2%-9.9%-6.7%-1.4%-8.6%-3.9%4.8%光大银行 0.2%3.5%-2.3%-4.5%-1.6%-3.3%-8.0%-2.6%5.4%华夏银行 1.6%-0.2%0.5%-10.8%-3.7%0.3%-4.3%6.0%10.3%平安银行 10.6%6.8%8.8%-1.3%-2.4%-5.0%-15.6%-11.0%4.6%浙商银行 18.4%26.7%10.1%-4.9%2.5%6.7%3.0%4.8%1.8%宁波银行 15.4%20.0%11.0%-5.8%8.5%10.2%-1.9%9.6%11.5%杭州银行 15.7%16.9%16.8%-1.6%7.5%4.6%3.6%10.4%6.8%上海银行 2.9%-1.2%-0.1%-22.6%-7.1%-4.1%-6.0%-1.3%4.7%长沙银行 12.0%5.8%13.1%7.7%12.9%11.4%1.6%8.5%7.0%青岛银行-5.7%42.0%15.8%-28.1%15.5%-7.4%0.5%30.8%30.3%郑州银行 7.1%10.3%19.3%-22.6%-3.0%-13.1%-14.4%-5.6%8.9%厦门银行 18.2%18.1%10.8%-1.0%5.0%2.3%-16.3%-8.9%7.3%齐鲁银行 18.0%20.1%13.9%-11.3%8.7%12.9%3.3%7.4%4.1%兰州银行-0.6%-5.0%-8.7%-4.8%12.0%6.3%11.4%0.7%-10.7%重庆银行-12.9%-1.0%-0.6%-15.6%1.5%4.4%-15.9%5.5%21.4%江阴银行 22.3%29.7%13.8%-12.8%4.0%-1.4%-1.3%8.9%10.2%无锡银行 9.1%4.3%6.5%-7.6%3.6%1.9%-3.0%2.6%5.6%常熟银行 19.3%18.4%18.1%5.2%13.3%11.5%12.9%10.5%-2.4%瑞丰银行 12.6%14.2%5.9%-5.3%8.1%8.3%5.1%10.6%5.5%渝农商行 1.3%0.7%-8.4%-17.2%-3.3%-2.8%-2.7%-5.9%-3.2%上市银行 5.5%3.8%-1.8%-5.8%-4.8%-2.8%-5.2%-2.4%2.8%国有行 6.2%4.2%-3.3%-6.1%-6.2%-3.3%-5.0%-2.6%2.4%股份行 3.6%2.1%0.1%-4.2%-2.9%-2.5%-6.2%-3.1%3.1%城商行 8.1%10.6%8.6%-11.5%4.3%3.0%-3.0%5.9%8.9%农商行 6.9%6.6%-0.6%-11.7%1.5%0.9%0.9%0.3%-0.6%-6-资料来源：公司 财报，中泰证 券研 究所 2 21-2.8%1-3 0.9-2.6%-3.5%+0.4%-3.3%1-3-0.6-1.5-0.3-2.1 图表：上市银行净利 息收 入累积同比增速情况 资料来源：公司 财报，中泰证 券研 究所 21 4 21 4Q23 1.55%9bp 1.49%1.77%1.68%1.76%3-10-8-18-11 bp 2021 1Q22 1H22 3Q22 2022 1Q23 1H23 3Q23 2023净利息收入累计同比增速 同比增速环比变动工商银行 6.8%6.4%4.5%3.2%0.4%-5.0%-4.1%-4.9%-5.6%-0.6%建设银行 5.1%8.4%7.2%7.7%6.2%-4.0%-1.6%-3.0%-4.0%-1.1%农业银行 6.0%7.7%6.0%4.3%2.1%-3.6%-3.3%-3.2%-3.1%0.1%中国银行 2.2%5.5%7.3%8.5%8.4%6.7%4.5%2.9%1.3%-1.6%交通银行 5.5%10.3%8.4%7.4%5.1%-4.4%-3.2%-3.0%-3.4%-0.4%邮储银行 6.3%4.1%3.8%2.3%1.6%1.0%2.3%3.1%3.0%-0.1%招商银行 10.2%10.0%8.4%7.6%7.0%1.7%1.2%0.1%-1.6%-1.7%中信银行-1.7%-1.2%-0.3%0.6%1.9%-0.9%-0.9%-1.9%-4.7%-2.8%民生银行-7.0%-18.7%-16.6%-16.8%-14.6%-7.9%-6.4%-5.2%-4.7%0.5%兴业银行 1.5%2.4%0.7%1.0%-0.3%-6.2%-0.8%1.1%0.8%-0.2%光大银行 1.3%0.1%1.4%1.5%1.3%-1.8%-3.4%-4.3%-5.4%-1.2%平安银行 20.8%7.3%7.9%8.7%8.1%0.5%-2.2%-6.2%-9.3%-3.2%浙商银行 13.1%14.2%14.0%14.4%12.2%2.2%3.2%1.4%1.0%-0.5%青岛银行-6.1%-4.7%1.7%6.1%8.4%14.7%13.5%12.4%12.0%-0.4%郑州银行 6.3%12.5%8.3%8.2%2.6%-4.3%-5.1%-4.6%-4.2%0.4%重庆银行 4.8%-6.6%-4.3%-4.9%-6.8%-5.3%0.6%-1.9%-3.3%-1.5%江阴银行 10.6%22.1%20.1%18.2%12.8%2.2%-2.2%-5.5%-6.6%-1.1%无锡银行 6.9%5.4%2.6%0.9%-0.5%-4.9%-1.5%-0.7%-0.8%-0.1%常熟银行 12.2%24.0%20.8%18.7%13.8%17.7%14.9%12.5%11.7%-0.8%瑞丰银行 0.5%1.5%5.3%6.7%6.4%-3.2%1.7%-2.0%-4.2%-2.2%渝农商行 8.2%-0.8%-2.4%-5.0%-3.2%-6.1%-5.8%-4.8%-7.5%-2.8%上市银行 5.1%5.5%4.8%4.4%3.1%-1.9%-1.3%-2.0%-2.8%-0.9%国有行 5.4%7.0%6.0%5.4%3.7%-2.0%-1.3%-2.0%-2.6%-0.6%股份行 4.2%1.2%1.4%1.5%1.6%-1.7%-1.3%-2.1%-3.5%-1.5%城商行 2.4%0.8%2.0%2.8%0.5%0.1%1.6%0.7%0.4%-0.3%农商行 8.3%4.9%3.5%1.5%1.5%-1.1%-1.0%-1.2%-3.3%-2.1%-7-图表：测算 上市银行 单季 年化 净息差 资料来源：公司 财报，中泰证 券研 究所 10bp-10-8-22-15bp+0.2-0.1-3.9-3.2bp 图表：上市银行单季 年化 生息资产收益率 资料来 源：公司 财报，中 泰证 券研 究 所 单季年化净息差 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 环比变动工商银行 2.11%2.03%1.90%1.87%1.74%1.71%1.63%1.54%1.42%-0.12%建设银行 2.14%2.11%1.98%2.00%1.90%1.74%1.73%1.68%1.59%-0.08%农业银行 2.08%2.04%1.92%1.81%1.70%1.67%1.57%1.51%1.42%-0.09%中国银行 1.74%1.71%1.73%1.76%1.71%1.66%1.59%1.58%1.47%-0.11%交通银行 1.58%1.53%1.47%1.47%1.41%1.32%1.31%1.30%1.23%-0.07%邮储银行 2.33%2.26%2.18%2.16%2.10%2.05%2.02%1.99%1.91%-0.08%招商银行 2.49%2.47%2.36%2.38%2.39%2.27%2.14%2.11%2.05%-0.06%中信银行 2.01%1.98%1.96%1.94%1.99%1.84%1.82%1.78%1.67%-0.12%民生银行 1.74%1.70%1.65%1.62%1.60%1.50%1.50%1.49%1.45%-0.04%兴业银行 2.07%1.96%1.76%1.78%1.86%1.68%1.66%1.68%1.67%-0.01%光大银行 2.10%2.00%2.01%1.98%1.96%1.83%1.78%1.74%1.66%-0.08%平安银行 2.79%2.81%2.76%2.84%2.76%2.63%2.46%2.31%2.12%-0.19%浙商银行 2.21%2.17%2.10%2.15%2.02%1.97%1.98%1.89%1.72%-0.16%青岛银行 1.68%1.72%1.83%1.86%1.86%1.85%1.87%1.87%1.84%-0.03%郑州银行 2.60%2.47%2.54%2.53%2.19%2.28%2.25%2.30%2.00%-0.30%重庆银行 2.01%1.77%1.70%1.79%1.61%1.53%1.66%1.52%1.32%-0.20%江阴银行 2.24%2.16%2.13%2.13%1.99%2.03%1.86%1.78%1.69%-0.09%无锡银行 1.89%1.81%1.73%1.71%1.73%1.60%1.61%1.57%1.54%-0.03%常熟银行 3.15%3.03%2.99%3.04%2.70%3.02%2.86%2.80%2.52%-0.28%瑞丰银行 2.38%2.22%2.22%2.23%2.17%1.75%1.86%1.64%1.58%-0.06%渝农商行 2.10%2.09%2.01%1.92%2.06%1.84%1.78%1.76%1.65%-0.10%上市银行 2.06%2.01%1.92%1.91%1.84%1.76%1.70%1.65%1.55%-0.09%国有行 2.02%1.97%1.88%1.86%1.77%1.70%1.64%1.59%1.49%-0.10%股份行 2.18%2.13%2.06%2.07%2.07%1.94%1.88%1.85%1.77%-0.08%城商行 2.11%1.98%2.00%2.04%1.86%1.86%1.90%1.86%1.68%-0.18%农商行 2.24%2.19%2.13%2.09%2.11%1.99%1.92%1.88%1.76%-0.11%生息资产收益率 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 环比 变动(b p)工商银行 3.57%3.50%3.43%3.51%3.45%3.46%3.44%3.37%3.22%-16建设银行 3.73%3.69%3.59%3.66%3.59%3.43%3.43%3.43%3.33%-11农业银行 3.64%3.61%3.54%3.46%3.39%3.39%3.31%3.26%3.22%-4中国银行 3.23%3.21%3.23%3.34%3.45%3.52%3.52%3.59%3.52%-7交通银行 3.64%3.59%3.55%3.65%3.66%3.64%3.65%3.64%3.53%-11邮储银行 3.94%3.84%3.78%3.77%3.69%3.58%3.54%3.52%3.45%-7招商银行 3.98%3.91%3.84%3.89%3.90%3.82%3.75%3.72%3.70%-2中信银行 4.19%4.10%4.12%4.06%4.08%3.98%4.00%3.97%3.81%-16民生银行 4.14%4.03%4.01%4.03%4.00%3.87%3.91%3.88%3.84%-4兴业银行 4.41%4.22%4.10%4.15%4.18%3.96%3.99%4.00%3.99%-1光大银行 4.35%4.20%4.17%4.22%4.27%4.15%4.09%4.11%4.00%-11平安银行 4.97%4.96%4.85%4.92%4.92%4.81%4.66%4.54%4.35%-19浙商银行 4.89%4.62%4.52%4.61%4.52%4.47%4.46%4.41%4.19%-22青岛银行 4.21%4.24%4.46%4.37%4.31%4.23%4.24%4.26%4.21%-5郑州银行 5.29%5.10%5.09%5.07%4.64%4.75%4.72%4.78%4.35%-43重庆银行 4.79%4.46%4.39%4.39%4.26%4.10%4.24%4.08%3.89%-19江阴银行 4.36%4.21%4.18%4.17%3.98%4.02%3.90%3.77%3.69%-7无锡银行 4.15%4.06%3.95%3.94%3.88%3.80%3.77%3.75%3.69%-7常熟银行 5.37%5.24%5.18%5.15%4.87%5.17%5.07%4.92%4.67%-25瑞丰银行 4.54%4.43%4.42%4.35%4.30%3.87%4.01%3.83%3.72%-11渝农商行 4.31%4.23%4.08%3.98%4.01%3.81%3.77%3.76%3.60%-16上市银行 3.78%3.71%3.65%3.69%3.66%3.61%3.58%3.56%3.47%-10国有行 3.59%3.54%3.49%3.53%3.50%3.47%3.45%3.43%3.33%-10股份行 4.32%4.20%4.15%4.18%4.19%4.06%4.04%4.01%3.92%-8城商行 4.78%4.60%4.63%4.60%4.39%4.34%4.39%4.35%4.12%-22农商行 4.44%4.35%4.24%4.17%4.13%4.01%3.98%3.93%3.78%-15-8-图表：上市银行单季 年化 计息负债成本率 资料来 源：公司 财报，中 泰证 券研 究 所 2023 21-7.5%3.7-10.0%-2.6%-11.0%+27.5%+3.6+3.5+9.3+15.0 21-6.0%1.9-1.4%-14.2%-14.0%-13.5%-0.5-4.1-0.6-7.1 2022 21-9.6%10.8-20.5%+18.4%-9.5%+49.5%+8.5+18.5+13.8+29.9 计息负债成本率 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 环比 变动(b p)工商银行 1.62%1.63%1.70%1.81%1.89%1.93%1.98%2.02%1.98%-4.0建设银行 1.75%1.76%1.77%1.80%1.82%1.88%1.88%1.91%1.92%0.8农业银行 1.69%1.75%1.77%1.79%1.81%1.88%1.90%1.91%1.92%1.0中国银行 1.60%1.61%1.62%1.72%1.90%2.02%2.09%2.18%2.23%5.0交通银行 2.16%2.15%2.19%2.28%2.35%2.40%2.44%2.44%2.41%-3.0邮储银行 1.65%1.60%1.62%1.62%1.60%1.54%1.53%1.55%1.56%1.0招商银行 1.61%1.57%1.61%1.64%1.65%1.68%1.74%1.74%1.78%4.0中信银行 2.25%2.18%2.20%2.17%2.14%2.18%2.21%2.23%2.19%-3.8民生银行 2.48%2.40%2.41%2.45%2.44%2.41%2.44%2.45%2.45%0.0兴业银行 2.30%2.24%2.32%2.34%2.29%2.26%2.32%2.32%2.32%0.0光大银行 2.30%2.24%2.22%2.25%2.28%2.37%2.36%2.37%2.37%0.0平安银行 2.22%2.20%2.17%2.18%2.23%2.25%2.28%2.32%2.31%-1.0浙商银行 2.66%2.42%2.39%2.44%2.47%2.43%2.37%2.41%2.39%-2.1青岛银行 2.38%2.36%2.46%2.40%2.38%2.29%2.30%2.32%2.28%-3.5郑州银行 2.61%2.58%2.49%2.47%2.37%2.38%2.38%2.41%2.28%-12.5重庆银行 2.93%2.86%2.85%2.75%2.78%2.70%2.71%2.70%2.73%3.0江阴银行 2.26%2.18%2.18%2.19%2.11%2.06%2.08%2.07%2.07%0.0无锡银行 2.41%2.41%2.38%2.38%2.31%2.39%2.35%2.36%2.33%-3.0常熟银行 2.37%2.36%2.34%2.26%2.34%2.32%2.39%2.31%2.36%5.0瑞丰银行 2.35%2.40%2.37%2.30%2.31%2.29%2.31%2.36%2.31%-5.0渝农商行 2.35%2.28%2.20%2.16%2.06%2.06%2.06%2.06%2.01%-5.3上市银行 1.83%1.83%1.85%1.90%1.94%1.99%2.02%2.046%2.047%0.0国有行 1.70%1.72%1.75%1.81%1.87%1.93%1.96%1.991%1.993%0.2股份行 2.19%2.13%2.15%2.17%2.16%2.17%2.21%2.218%2.217%-0.1城商行 2.66%2.61%2.61%2.55%2.53%2.48%2.48%2.492%2.453%-3.9农商行 2.35%2.30%2.25%2.21%2.14%2.14%2.15%2.150%2.118%-3.2-9-图表：上市银行净非 息收 入累积同比增速情况 资料来源：公司 财报，中泰证 券研 究所 图表：上市银行 净手 续费 收入 累积同比增速情 况 资料来源：公司 财报，中泰证 券研 究所 2021 1Q22 1H22 3Q22 2022 1Q23 1H23 3Q23 2023净非息收入累计同比增速 同比增速环比变动工商银行 6.9%6.8%3.3%-8.5%-11.0%-18.0%-18.7%-18.5%-16.2%2.4%建设银行 21.6%4.8%-1.3%-16.1%-18.0%-25.8%-25.8%-18.8%-15.0%3.8%农业银行 25.7%1.2%5.8%1.2%-5.0%-20.4%-13.4%-14.4%-8.8%5.7%中国银行 20.6%-4.7%-5.3%-10.9%-12.8%-5.3%-4.5%-5.7%-0.6%5.1%交通银行 16.0%4.3%5.2%1.6%-4.3%-14.9%-6.0%-8.9%-9.3%-0.4%邮储银行 50.4%45.4%42.2%37.4%24.3%14.0%0.9%-6.2%-1.1%5.2%招商银行 20.8%6.5%2.9%1.9%-0.6%-6.1%-2.7%-4.6%-1.7%2.9%中信银行 28.1%17.8%9.6%10.3%7.2%-13.7%-4.6%-4.2%2.7%6.9%民生银行-13.5%-1.0%-12.0%-17.2%-18.6%25.5%4.3%7.0%9.6%2.6%兴业银行 26.7%15.1%17.2%10.0%2.0%-7.7%-9.7%-17.0%-16.6%0.5%光大银行 27.7%0.4%3.0%-2.2%-6.5%-0.9%0.0%-4.4%0.6%5.0%平安银行-9.0%18.7%10.4%8.7%1.5%-9.0%-7.1%-11.3%-6.1%5.2%浙商银行 18.0%32.7%53.9%30.1%12.0%3.6%8.9%11.9%15.4%3.5%青岛银行 45.8%-8.2%57.5%40.8%-3.9%17.7%-16.9%-17.2%-4.9%12.3%郑州银行-15.3%-25.0%11.7%33.5%-0.1%8.9%-24.6%-35.6%-32.3%3.3%重庆银行 46.8%-36.3%-15.8%-4.2%-9.0%38.5%12.5%-10.5%4.0%14.5%江阴银行-32.4%22.7%52.6%41.2%9.5%10.9%13.8%26.6%50.6%24.0%无锡银行 36.6%21.1%21.5%28.9%17.4%28.2%15.8%5.7%8.5%2.8%常熟银行 56.6%-4.2%7.7%18.3%24.2%-15.8%-3.4%13.0%14.3%1.3%瑞丰银行 1076.2%452.3%145.5%47.6%7.0%90.5%53.4%69.6%122.8%53.2%渝农商行 17.0%16.1%22.7%14.9%-22.2%13.3%11.2%6.5%24.4%17.9%上市银行 16.9%5.9%4.5%-2.7%-6.9%-12.6%-10.9%-11.2%-7.5%3.7%国有行 18.2%4.4%3.2%-5.9%-9.5%-16.1%-14.2%-13.6%-10.0%3.6%股份行 13.9%10.5%7.1%3.8%-0.9%-4.6%-3.6%-6.2%-2.6%3.5%城商行 19.5%-22.5%16.1%21.7%-4.3%22.3%-10.6%-20.3%-11.0%9.3%农商行 21.3%18.7%25.8%20.6%-7.8%15.2%12.2%12.5%27.5%15.0%2021 1Q22 1H22 3Q22 2022 1Q23 1H23 3Q23 2023净手续费收入累计同比增速 同比增速环比变动工商银行 1.4%1.2%0.1%0.3%-2.8%-2.8%-3.4%-6.0%-7.7%-1.6%建设银行 6.0%0.0%-0.9%-1.8%-4.5%4.7%2.6%0.0%-0.3%-0.3%农业银行 7.8%4.3%2.8%2.9%1.2%2.8%2.5%-0.9%-1.5%-0.6%中国银行 7.8%-6.8%-7.8%-7.6%-11.3%1.4%7.5%7.0%9.2%2.1%交通银行 5.5%8.8%-1.2%-3.9%-6.2%-7.0%-0.3%-1.8%-3.7%-1.9%邮储银行 33.4%39.6%56.4%40.3%29.2%27.5%1.8%0.3%-0.6%-1.0%招商银行 18.8%5.5%2.2%0.0%-0.2%-12.6%-11.8%-11.5%-10.8%0.7%中信银行 24.4%4.1%-2.7%-1.4%3.4%-11.5%1.2%-1.3%-12.7%-11.4%民生银行-0.4%-21.2%-22.2%-22.4%-26.5%8.9%9.8%3.9%-5.1%-9.0%兴业银行 13.2%18.8%3.5%-3.3%5.5%-42.5%-30.3%-30.4%-38.4%-8.0%光大银行 12.3%-1.6%-1.1%-0.8%-2.1%-5.0%-9.4%-11.4%-11.4%0.0%平安银行-24.0%4.8%-7.7%-12.0%-8.6%-0.1%1.9%2.5%-2.6%-5.0%浙商银行-4.7%33.1%31.8%25.1%18.3%12.3%12.2%9.2%5.2%-4.0%青岛银行 15.6%1.3%8.5%4.3%-26.1%15.2%12.5%6.9%9.8%2.9%郑州银行-28.2%-32.0%-42.0%-44.9%-36.3%-30.6%-23.2%-19.3%-26.8%-7.5%重庆银行-25.9%25.5%-3.7%8.7%-1.0%-65.2%-52.3%-47
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