Ten listed national joint-stock commercial banks, including China Merchants Bank Co.,Ltd., Shanghai Pudong Development Bank, and China CITIC Bank, have all disclosed their 2025 annual reports. Overall, these banks demonstrated a development trend characterized by "steady progress and enhanced quality and efficiency," laying a solid foundation for the beginning of the 15th Five-Year Plan period with robust operational results.
Total assets across all ten banks showed positive growth by the end of 2025. China Merchants Bank Co.,Ltd. led the sector with total assets of 13.07 trillion yuan, an increase of 7.56% from the end of the previous year. Industrial Bank, China CITIC Bank, and Shanghai Pudong Development Bank followed closely, forming the top tier with total assets of 11.09 trillion yuan, 10.13 trillion yuan, and 10.08 trillion yuan, respectively, each surpassing the 10 trillion yuan mark. Smaller and medium-sized joint-stock banks like China Bohai Bank and China Zheshang Bank maintained steady growth. Bohai Bank's total assets reached 1.93 trillion yuan, up 4.91% year-on-year, while Zheshang Bank's assets grew to 3.48 trillion yuan. Generally, leading banks, leveraging their extensive customer bases and substantial resources, recorded slightly higher growth rates than the industry average, while smaller banks focused on refined development to strengthen their asset quality foundations.
The profitability landscape in 2025 was positive, showing stability among the larger banks and improvement among the smaller ones. China Merchants Bank Co.,Ltd. ranked first with a net profit attributable to shareholders of 150.181 billion yuan. Its operating revenue was 337.532 billion yuan, remaining largely flat compared to the previous year, demonstrating strong profit resilience. Industrial Bank and China CITIC Bank reported net profits attributable to shareholders of 77.469 billion yuan and 70.618 billion yuan, respectively, with both banks' operating revenues exceeding 200 billion yuan, indicating stable profitability. China Minsheng Bank's operating revenue reached 142.865 billion yuan, a year-on-year increase of 4.82%. China Bohai Bank's net profit attributable to shareholders was 5.498 billion yuan, rising 4.61% year-on-year, reflecting the gradual results of its refined management. While Ping An Bank and China Everbright Bank experienced slight declines in revenue, key operational indicators for both are showing positive trends as strategic reforms deepen. Ping An Bank has set "returning to growth" as its core operational target for 2026, and China Everbright Bank has designated 2026 as a year for consolidating its foundation, aiming to stabilize and improve profitability through differentiated development and building distinctive strengths. From a structural perspective, many banks are accelerating the development of non-interest businesses. For instance, China Minsheng Bank's net non-interest income increased by 13.67% year-on-year, and China Everbright Bank's intermediary business income grew by 6.2%, indicating ongoing optimization and upgrading of their profit structures.
The asset quality of the ten banks generally improved in 2025, with most reporting year-on-year decreases in their non-performing loan (NPL) ratios and maintaining sufficient provision coverage levels. China Merchants Bank Co.,Ltd. maintained its leading position in risk control, with an NPL ratio of just 0.94% and a provision coverage ratio as high as 391.79%. China CITIC Bank and Ping An Bank both saw their NPL ratios decrease by 0.01 percentage points from the end of the previous year, to 1.15% and 1.05% respectively, while their provision coverage ratios stood at a solid 203.61% and 220.88%. China Bohai Bank's NPL ratio decreased by 0.10 percentage points to 1.66%, and its provision coverage ratio improved to 162.16%, highlighting significant progress in risk prevention. Huaxia Bank and Shanghai Pudong Development Bank maintained stable NPL ratios of approximately 1.55% and 1.26%, respectively, with provision coverage ratios meeting regulatory requirements, providing a solid buffer against potential risks. Overall, the asset quality of the ten banks showed a trend of "stability with optimization," supported by continuously improving risk management systems that strengthen the safety foundation for the sector's sustainable and healthy development.
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