Bank of China (03988) has released its interim results for the six months ended June 30, 2026, reporting net interest income of RMB 236.733 billion, up 10.2% year-on-year. Operating income reached RMB 357.113 billion, an increase of 8.41%, while net profit attributable to shareholders of the bank climbed 5.1% to RMB 123.594 billion. Basic earnings per share stood at RMB 0.36, with an interim ordinary dividend of RMB 1.190 per ten shares (pre-tax) declared for 2026.
During the first half, the group's business developed steadily, with balanced growth in assets and liabilities and solid financial performance. Key metrics remained within reasonable ranges. As of the end of June, total group assets amounted to RMB 401,863.51 billion, up 4.77% from the end of the previous year, while total liabilities reached RMB 369,459.67 billion, a rise of 5.11%.
For the first half, the group realized operating income of RMB 3,571.13 billion and after-tax profit of RMB 1,320.31 billion, representing year-on-year increases of 8.41% and 4.67%, respectively. The average return on assets (ROA) was 0.67% and the return on equity (ROE) was 8.66%, maintaining reasonable levels. The net interest margin stood at 1.27%, up 1 basis point year-on-year. The cost-to-income ratio improved to 23.43%, down 1.68 percentage points year-on-year, reflecting enhanced operational efficiency.
Implementation of macroeconomic policies proved effective, with credit expansion improving in quality. By the end of June, RMB loans from domestic branches had increased by RMB 1.20 trillion from the end of the previous year, a growth of 5.98%. The bank diligently executed fiscal interest subsidy policies and deepened consumption-boosting initiatives to support spending and expand domestic demand. As of the end of June, it had provided consumption loan interest subsidy services to over 1.66 million customers.
Financial support was intensified in key sectors, with foreign and local currency loans to manufacturing growing 12% from the end of last year. Support for the private economy was strengthened, with loans to private enterprises up 9% over the same period. The bank contributed to stabilizing the real estate market by meeting residents' rigid and improved housing needs. It also supported the healthy and stable development of the capital market, with credit services for listed companies' share buyback and increase plans maintaining a leading market position.
Advantages in technology finance were consolidated, with technology loans accounting for over one-third of corporate loans. Green finance maintained its lead, with green loan balances (People's Bank of China caliber) growing 13.32% from the end of the previous year, and the scale of underwriting domestic green bonds remained ahead among Chinese institutions. Inclusive finance expanded in both scale and coverage, with loan balances surpassing RMB 3.06 trillion and over 1.98 million borrowing customers. The number of credit customers among national and provincial "specialized, refined, distinctive, and innovative" enterprises led the industry. Pension finance progressed steadily, with steady growth in corporate annuity personal accounts and custody assets. Digital finance accelerated empowerment, applying new technologies such as artificial intelligence, advancing branch transformation and smart operations, and steadily promoting paperless over-the-counter business processes. Digital support for financial services was strengthened, with monthly active users of the personal mobile banking app growing 6.86% year-on-year, while digital RMB consumption spending maintained a leading market position.
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