Industrial and Commercial Bank of China (01398) released its interim results, with a net profit attributable to shareholders of 173.682 billion yuan, an increase of 3.32% year-on-year.

Industrial and Commercial Bank of China (01398) announced its interim results for the six months ending June 30, 2026. The group achieved a net interest income of 341.237 billion yuan, an increase of 8.82% year-on-year; operating income of 446.163 billion yuan, an increase of 9.06% year-on-year; and a net profit attributable to shareholders of the parent company of 173.682 billion yuan, an increase of 3.32% year-on-year; with earnings per share of 0.47 yuan. In the first half of 2026, the bank adhered to Party leadership and a transformation across five key areas, deeply practicing the political and people-oriented essence of financial work. The first half of the "14th Five-Year" plan commenced strongly, with operations exhibiting a good development trend of stable progress. During the first half of the year, a net profit of 176.475 billion yuan was achieved, a year-on-year increase of 4.5%, with an annualized average total assets return rate of 0.64% and an annualized weighted average equity return rate of 8.63%. Operating income reached 446.163 billion yuan, growing by 9.1%. Among this, net interest income was 341.237 billion yuan, growing by 8.8%; non-interest income was 104.926 billion yuan, increasing by 9.9%. Operating expenses totaled 111.379 billion yuan, up 2.6%, with a cost-to-income ratio of 23.70%. Asset impairment losses were recognized at 127.756 billion yuan, reflecting a growth of 22.2%. Income tax expenses amounted to 33.535 billion yuan, a 11.0% increase. In the first half of 2026, net interest income was 341.237 billion yuan, an increase of 27.661 billion yuan year-on-year, growing by 8.8%. Interest income was 660.777 billion yuan, a decrease of 12.826 billion yuan, down 1.9%; interest expenses totaled 319.540 billion yuan, declining by 40.487 billion yuan, down 11.2%. Influenced by improvements in liability costs and optimization of the asset-liability structure, the annualized net interest margin was 1.17%, year-on-year up by 1 basis point, while the annualized net interest yield was 1.29%, year-on-year down by 1 basis point. In the first half of the year, fee and commission income reached 76.591 billion yuan, an increase of 2.429 billion yuan year-on-year, growing by 3.3%. Income from corporate wealth management business and personal wealth management and private banking services increased by 1.697 billion yuan and 1.467 billion yuan, respectively, mainly due to seizing market opportunities and increased revenue from precious metals agency, fund agency, and wealth management distribution; other income rose by 646 million yuan, largely due to strong growth in pension business. However, external factors such as changes in the market environment led to a decrease in income from card services; the proactive reduction of guarantee commitment fee rates resulted in decreased income from related products.