Listed banks frequently see major shareholders and senior executives increasing their holdings

Our Reporter: Xiong Yue

On the evening of February 10, Nanjing Bank announced that its board of directors approved a proposal regarding Jiangsu Transportation Holding Co., Ltd. (hereinafter referred to as “Jiangsu Jiao Kong”) planning to hold more than 15% of the bank’s shares. This matter is still subject to approval by regulatory authorities.

Since 2026, major shareholders and senior management of listed banks have been actively increasing their holdings. According to our review, besides Nanjing Bank, several other regional small and medium-sized banks—including Jiangsu Bank, Chongqing Bank, Yunnan Rural Commercial Bank, and Changshu Bank—have seen major shareholders or senior executives increase their stakes within the year.

Nanjing Bank Frequently Receives Shareholder Increases

Nanjing Bank’s Q3 2025 report shows that as of the end of September 2025, Jiangsu Jiao Kong held a 14.21% stake, making it the second-largest shareholder of Nanjing Bank. Additionally, during our review of announcements, we noted that since 2024, Nanjing Bank has repeatedly seen major shareholders increase their holdings, mainly due to recognition of the bank’s future development prospects and value growth.

Besides Jiangsu Jiao Kong, previous major shareholders increasing their stakes in Nanjing Bank include Nanjing Zijin Investment Group Co., Ltd. (hereinafter “Zijin Group”) and its controlled subsidiary Zijin Trust Co., Ltd. (“Zijin Trust”), France’s BNP Paribas (QFII), Nanjing Gaoke Co., Ltd. (“Nanjing Gaoke”), and Eastern Airport Group Investment Co., Ltd. (“Eastern Airport Group”).

Specifically, Zijin Group and Zijin Trust increased their holdings of Nanjing Bank by approximately 123 million shares, or 1% of the total shares, through centralized bidding on the Shanghai Stock Exchange from September 11, 2025, to January 12, 2026, using their own funds. Their combined shareholding rose from 13.02% to 14.02%. Prior to this, Zijin Group had also increased its holdings during two periods: from July 18, 2025, to September 10, 2025, and from October 8, 2024, to April 10, 2025.

BNP Paribas, the largest foreign shareholder (QFII), has shown strong interest in Nanjing Bank. According to the announcement, since 2024, BNP Paribas (QFII) has increased its holdings during several periods: from February 26 to March 13, 2024; March 14 to November 7, 2024; September 22 to September 26, 2025; and September 29 to November 20, 2025. As of the end of September 2025, BNP Paribas (QFII) held 17.14% of the bank’s shares.

Additionally, Nanjing Gaoke increased its holdings twice in 2025, and Eastern Airport Group increased its holdings from October 10, 2024, to April 10, 2025.

Nanjing Bank recently disclosed its 2025 performance brief, showing that during the reporting period, the bank’s revenue grew by 10.48% year-over-year to 55.54 billion yuan, and net profit attributable to the parent increased by 8.08% to 21.81 billion yuan. By the end of 2025, the bank’s total assets exceeded 3 trillion yuan, a 16.63% increase year-over-year, with a non-performing loan ratio of 0.83%, unchanged from the end of 2024.

Industry Performance and Stability

From the stock price perspective, Wind data shows that as of February 11, the Wind Banking Industry Index has declined by 3.42% year-to-date. Among them, regional small and medium-sized banks such as Qingdao Bank and Ningbo Bank have seen stock price increases of over 10%, with gains of 26.79% and 13.74%, respectively.

Jufeng Investment Advisor senior investment consultant Xiaoming Yu believes that listed banks generally maintain stable profitability, with continuous improvement in asset quality and prominent high-dividend advantages. The active increase in holdings by internal funds reflects recognition of the long-term value of these banks and helps stabilize shareholding structures and boost market confidence.

Tian Lihui, Professor of Finance at Nankai University, stated that the increase in holdings by multiple regional small and medium-sized banks’ major shareholders and senior executives sends a strong bottom-line signal. These actions help restore the valuation center of these stocks, guiding the market to reassess the differentiated competitiveness of high-quality regional banks. In the long run, this will accelerate industry consolidation, promote deep integration of small and medium-sized banks into local economic ecosystems, and foster a new pattern of healthy financial and industrial cycles.

CITIC Securities released a research report stating that the disclosed 2025 performance brief of listed banks shows that their operational quality remains stable. Looking ahead to 2026, the first quarter is expected to see a good operating pattern, with stable net interest margins and asset quality, and a recovery in revenue and profit growth, solidifying the value of core equity assets. The sector’s allocation is expected to have a high cost-performance ratio.

“Bank sector valuations are still at historic lows, and with net interest margins bottoming out and risk mitigation bringing profit elasticity, the recovery is fundamentally supported,” Xiaoming Yu said.