Chongqing Rural Commercial Bank 2025 Annual Report: Strengthening the foundation by focusing on the "Five Major Financial Articles," and leading transformation with the "Three New Drivers"

China Rural Commercial Bank’s system has undergone decades of reform and evolution, and has now developed into the financial “main force” for serving county-level economic development and helping drive comprehensive rural revitalization. In 2025, as reforms of provincial rural credit unions accelerated and the “reduce volume and improve quality” policy took effect, the development foundation of rural commercial banks was further strengthened.

Against this ever-changing, newly shaped market landscape, Chongqing Rural Commercial Bank (hereinafter referred to as “Chongqing RCB,” stock code: 601077.SH; 3618.HK) proactively sought change, actively built three new growth engines—“digital-driven, industry chain-driven, and scenario-driven,” conscientiously carried out the financial “five major articles,” and worked to fully advance “rural areas leading and cities catching up.” In the final year of the “14th Five-Year Plan,” it delivered a steady and impressive set of operating results.

In its recently released 2025 annual report, Chongqing RCB achieved full-year operating income of CNY 28.65 billion and net profit of CNY 12.42 billion, up year over year by 1.37% and 5.35%, respectively. Operating efficiency maintained steady growth. Meanwhile, business scale expanded in step: as of end-2025, the bank’s total assets stood at CNY 1,6657.44 billion, up CNY 150.802 billion from the end of the previous year, an increase of 9.95%; deposits totaled CNY 1,0287.28 billion, up CNY 86.781 billion from the end of the previous year, an increase of 9.21%; and loans totaled CNY 7972.87 billion, up CNY 83.014 billion from the end of the previous year, an increase of 11.62%. Both deposit and loan stock and increment market share ranked first among banks in the city.

Along with expanding scale, asset quality also continued to improve steadily. As of end-2025, Chongqing RCB’s non-performing loan ratio was 1.08%, down 0.10 percentage points from the end of the previous year; the provision coverage ratio reached 367.26%, up 3.82 percentage points from the end of the previous year. Asset quality reached the best level in nearly seven years and since the bank’s A-share listing. At the same time, the cost-to-income ratio fell by 0.64 percentage points year over year, realizing a “double decrease” in both risk and costs.

Steady development brings not only improved operating efficiency and returns, but also ongoing benefits for shareholders. In an environment where the banking industry is under broad pressure, continuous and stable high-percentage dividend payouts both reflect the listed company’s high regard for shareholder returns and demonstrate its steady profitability and abundant cash flow. According to the annual report, over the past five years Chongqing RCB has cumulatively distributed dividends totaling CNY 15 billion, with dividend payout ratios all not lower than 30%, rewarding shareholders’ long-term trust and support with tangible returns.

Doing well on the financial “five major articles,” and firmly laying the “stabilizing anchor” for development

In a critical period when the banking industry is deep into transitioning from scale expansion to value creation, how to open up new space for development through strategic upgrades and build differentiated advantages in serving the real economy has become a core question for financial institutions to move toward high-quality development. According to the annual report, in 2025, Chongqing RCB closely followed national strategy and the pulse of regional economic development. It focused on advancing “technology finance, green finance, inclusive finance, pension finance, and digital finance” as breakthroughs, and while deepening its core responsibilities and principal business, it continuously expanded new growth drivers, gradually forming a new business pattern with distinctive characteristics and coordinated efforts.

In terms of technology finance, Chongqing RCB’s technology finance customer acquisition platform was successfully built and put into operation, continuously constructing a technology finance ecosystem and reshaping traditional marketing models. At the same time, centered on Chongqing’s “33618” modern manufacturing cluster system and the “416” science and technology innovation layout, it comprehensively optimized its product system, business model, and ecosystem layout. Technology loans achieved a new breakthrough: the outstanding balance of loans to technology-based enterprises reached CNY 90.906 billion, ranking first among local legal-entity banks, providing strong support for the development of new quality productive forces.

In terms of green finance, with a focus on the “dual carbon” strategic objectives, Chongqing RCB actively promoted the coordinated development of green credit, transition finance, and carbon finance. Its outstanding balance of green loans reached CNY 82.817 billion, up net by CNY 15.064 billion from the end of the previous year, an increase of 22.23%. It also successfully implemented the city’s first carbon footprint-linked loan, and further innovated by launching a “agricultural and sideline food carbon label + transition finance” model. While supporting the low-carbon transition of agriculture, it also established a benchmark image for regional green finance. In terms of inclusive finance, Chongqing RCB’s “Yu Kuai Hui” brand successfully launched, using an ecosystem-based “consumer festival” to ignite the entire city; the number of merchants exceeded 2 million, completing the “doubling” target. It also pioneered the launch of the “Jiang Yu Cultural and Tourism Card,” comprehensively covering the full chain of “food, lodging, travel, entertainment, and shopping,” promoting win-win co-building and shared benefits of an integrated ecosystem. Meanwhile, it devoted significant effort to building an inclusive finance ecosystem covering scenarios such as “elder care, medical services, shopping, and tourism.” It actively expanded customer groups such as micro and small businesses and inclusive segments. The scale of inclusive micro and small business loans and loans to agricultural-related borrowers remained ranked first among banks in the city. Total retail loans and advances were CNY 301.022 billion, up CNY 8.516 billion from the end of the previous year, an increase of 2.91%. The number of customers with inclusive micro and small enterprise loans was nearly 2.1 million; the outstanding loan balance increased by CNY 4.715 billion from the end of the previous year to reach CNY 144.644 billion, maintaining steady ranking first in the city. In terms of pension finance, Chongqing RCB obtained qualifications from the Chongqing Municipal Civil Affairs Bureau for prepaid fee custody business for elderly care institutions. It actively advanced barrier-free aging-friendly renovation, upgraded the mobile bank’s “Care Edition,” and introduced intelligent voice and dialect interaction to optimize signing procedures. The pension finance “Nurturing Care Loan” innovation solved industry problems: in the People’s Bank of China’s assessment, it won the highest tier “Excellent” award, becoming the only local financial institution in the city to receive the award. It issued 7.7519 million social security cards; in 2025, it newly issued 0.6433 million cards, ranking first among banks in the city. Over the cumulative period, it handled 57.8166 million transactions of funds for pension and work-injury benefits, amounting to CNY 44.363 billion, serving more than 4.6 million customers, also ranking first among banks in the city.

In terms of digital finance, Chongqing RCB anchored its digital transformation goals, adhered to empowering with technology and carrying out digital transformation, established 7 new technology-business integration centers, launched 15 smart agents, and deepened the application of data intelligence in areas such as business, operations, and risk control, continuously improving service experiences for both clients and employees, thereby strengthening its digital support capabilities. The number of mobile banking users reached 15.6957 million; annual transaction value was CNY 1,354.111 billion. It launched 6 new digital products and had 17 products in operation. Its technology finance customer acquisition platform reshaped the marketing model and promoted business growth, while the service capabilities of digital platforms such as the treasury management system and the “YuNong Asset Smart Management” system were continuously enhanced.

Deeply building the “three new growth engines” and creating a “new engine” for business growth

Facing the industry-wide trend of narrowing net interest margins and the accelerating transformation of traditional profit models, Chongqing RCB, based on profound insight into market changes, proactively moved beyond traditional path dependence and systematically built three new growth engines to drive future growth, actively exploring a path of characteristic and differentiated development. At present, this strategic layout has already shown initial results across the three dimensions of digital, industry, and scenarios.

First, digital weaving, efficient empowerment. The technology finance customer acquisition platform reshaped the marketing model and promoted business growth, and the service capabilities of digital platforms such as the treasury management system and the “YuNong Asset Smart Management” system were continuously enhanced, providing efficient and intelligent service solutions for enterprises and rural collective economic organizations. For example, the technology finance customer acquisition platform accurately connected with the demand of more than 31,000 enterprises, driving an increase in new credit of CNY 8.6 billion. It also linked 22 universities and research institutes, 23 venture capital and investment institutions, 4 industrial parks, 10 intermediary institutions, and more than a hundred technology-based enterprises to build a technology finance ecosystem, facilitating the landing of technology achievements in 8 projects.

Second, focus on industry, and flowers bloom along the chain. It actively established “one-to-one” cooperation with large industrial groups, deeply engaging in key industrial chains such as intelligent network-connected new energy vehicles. It also carried out special financing businesses for dealers. Meanwhile, following the concept of “one county, one product, one laboratory, and multiple leading enterprises,” it co-built industrial platforms with local governments and industry associations, and introduced various participants such as leading enterprises, farmers, dealers, and agricultural research institutes, enabling a large flow of participants clustering together and high-frequency interaction. It built featured industrial sample spaces such as cloud-peak noodle enterprises and Fuling preserved mustard tubers, and rolled out a series of dedicated credit products. The scales of farmers’ loans, inclusive agricultural-related loans, and loans to new agricultural business entities were all ranked first among banks in the city.

Third, scenario innovation, and ecosystem momentum. Chongqing RCB’s “Yu Kuai Hui” community commercial ecosystem continued to improve. It launched the inaugural “Yu Kuai Hui Consumption Festival” to establish a value closed loop of “individual financial behavior—point accumulation—consumption discounts—merchant transaction flow growth,” effectively activating a large number of dormant customers. It strengthened the local market’s service penetration and customer stickiness, with clear results for “benefiting people’s livelihoods and promoting consumption.” In addition, the cultural and tourism consumption scenarios were accelerating in their build-out: the number of cards issued for the “Jiang Yu Cultural and Tourism Card” has already exceeded 14,000, injecting financial liquidity into rural tourism and the development of featured industries.

Next, Chongqing RCB will continue to uphold the philosophy of steady and sound operations, use strategic transformation as its engine, and stay focused on the financial “five major articles” to continuously deepen its distinctive strengths in serving the real economy and regional development. It will continue to unlock the potential of the “three new growth engines,” and with better performance, stronger resilience, and more substantial shareholder returns, it will write a new chapter in innovation breakthroughs for modern commercial banks.

(Editor: Zhang Xiaobo ）

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