New changes in the asset allocation logic of small and medium-sized banks: Financial market business has become an important lever for stable revenue growth.

Sorting out the data of corporate early warning system, it is discovered that by 2025, the investment income of some regional banks accounts for a relatively high proportion of their operating income. Among them, Qinghai Bank's investment income accounted for 75.21% of its operating income in 2025, while Handan Bank, Mengshang Bank, and Ningxia Bank accounted for 72.81%, 63.75%, and 47.04% respectively. As the marketization of interest rates continues to advance, the traditional interest rate spread of commercial banks is being squeezed, and the impact of non-interest income and investment income on the stability of bank operations is gradually increasing. In the view of industry insiders, for certain small and medium-sized banks, financial market business has transitioned from being a supplementary item in the past to become an important source for smoothing profit fluctuations and stabilizing revenue performance.