Abstract: According to the EVA from Stem Stewart，we first establish an EVA model with consideration of China′s conditions and the special nature of banks.Then we select 16 listed banks′ financial data in 2010，and analyze the 16 listed banks′ operating performance with EVA.The conclusion is that the stateowned commercial banks have the higher EVA.We also analyze the banks with EVA return rate because of the different scale，and the analysis reveals that two jointstock commercial banks are at the top.At last，we compare the traditional financial indicators with the EVA of those banks.The comparison leads to the conclusion that EVA combined with EVA return rate can better reflect the banks′ operating performance，and that the EVA has some relevance to traditional financial indicators，but reflects the banks′ operating performance more truly during a certain time，and thus can help the investors make better judgments.

Key words: EVA, evaluation model, listed banks, operating performance, EVA return rate