[Domestic Bank Stocks Performance] Bank of China reduces the final dividend by 4% to 11.69 cents RMB; Agricultural Bank raises the final dividend by 4% to 13 cents. An article to understand the 2025 performance of major domestic bank stocks (updating continuously)

Domestic bank stocks continue to release their full-year 2025 results. Agricultural Bank of China (01288)
On Monday (the 30th), it announced a final dividend of 13 cents per share in renminbi, up 3.6% year over year. Bank of China (03988)
The final dividend is 11.69 cents per share in renminbi, down 3.9% year over year.

Industrial and Commercial Bank of China (01398)
China Construction Bank (00939)
Last Friday, they had already released their results first. ICBC’s revenue last year rose 2%, net profit rose 0.7%, and the final dividend increased 3% year over year to 16.89 cents per share. China Merchants Bank’s final dividend is 1.003 yuan per share; the full-year dividend per share rose 0.8% year over year to 2.016 yuan per share.

Because several domestic banks within the year 2025 carried out share placements to raise funds for institutions with state-owned backgrounds, causing the dividend per share to decline year over year, including BOC, CCB, Bank of Communications (03328)
Postal Savings Bank (01658)
.

Table of contents

				*   					A table to clearly see the dividend distribution for large domestic bank stocks in 2025
					
				*   					A table to clearly see the performance indicator results of domestic bank stocks in 2025
					
				*   					ICBC non-interest income grows 12%, driving revenue growth
					
				*   					CCB final dividend down 2% year over year; full-year payout ratio falls to 29.9%
					
				*   					ABC net interest income down 1.9% year over year
					
				*   					BOC’s non-performing loan ratio related to real estate stood at 6.26% at year-end last year, up 1.32 percentage points
					
				*   					CMB revenue edges up by less than 0.1%; net interest income up 2%
					
				*   					BoCom final dividend down 15% year over year
					
				*   					Postal Savings Bank final dividend down 16% year over year
					
				*   					Citic Bank final dividend 19.3 cents in renminbi; up 12% year over year
					
		

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A table to clearly see the dividend distribution for large domestic bank stocks in 2025

A table to clearly see the performance indicator results of domestic bank stocks in 2025

ICBC non-interest income up 12%, driving revenue growth

ICBC (01398) announced that for full-year 2025, net profit was 3685.6 billion yuan (the same below), up 0.7% year over year; basic earnings per share were 1 yuan in renminbi, up 2% year over year.

ICBC President Liu Jun, speaking at the 2026 dividend announcement conference: If there is market demand for increasing payout ratio, ICBC will definitely expedite what the market needs

Total income was 8014 billion yuan, up 2%. Of this, net interest income fell 0.4% to 6351.3 billion yuan; non-interest income rose 12% to 1662.7 billion yuan. Operating expenses rose 2% year over year to 2468.7 billion yuan. Credit asset impairment losses rose 6% year over year to 1329.7 billion yuan. Income tax expenses fell 2% year over year to 536.7 billion yuan.

During the period, affected by factors such as the reduction in the Loan Prime Rate (LPR) for loan market quotations and changes in deposit term structure, net interest earning rate was 1.28%, down 14 bps year over year. In addition, the provision coverage ratio was 213.6%, down 1.31 percentage points year over year; the loan loss provision ratio was 2.79%, down 0.08 percentage points.

ICBC performance announcement

CCB final dividend down 2% year over year; full-year payout ratio falls to 29.9%

Last year, CCB’s revenue also rose 2%, net profit rose 1%, and final dividend per share fell 2% year over year to 20.29 cents per share in renminbi.

CCB: The narrowing in net interest spread this year may further compress

CCB performance announcement

ABC net interest income down 1.9% year over year

ABC said that net interest income is the bank’s largest component of revenue, accounting for 78.6% of operating income in 2025. In 2025, ABC’s net interest income was 5695.9 billion yuan, down 1.9% year over year. Net interest margin was 1.28%, down 14 bps; the main reason is the impact of the LPR rate cuts and market interest rates operating at low levels, which led to a decline in the yield of interest-earning assets.

At the end of last year, ABC’s non-performing loan ratio was 1.27%, down 0.03 percentage points year over year; the non-performing loan ratio for corporate real estate loans was 5.4%, flat year over year.

ABC performance announcement

BOC’s non-performing loan ratio related to real estate stood at 6.26% at year-end last year, up 1.32 percentage points

BOC’s 2025 group net interest spread was 1.26%, down 14 bps. The bank said this was mainly due to the reduction in the Loan Prime Rate (LPR) for onshore RMB loan market quotations and the decline in foreign currency market interest rates, which caused the average yield on interest-earning assets to fall by 49 bps year over year. The bank said it will actively strengthen proactive management, adhere to coordinated growth in both volume and pricing, continue to strengthen controls over deposit costs, and promote a decline of average paid interest rates on interest-bearing liabilities by 37 bps, effectively mitigating the downward trend in net interest spread. For onshore RMB customer long-term loans and advances, their average outstanding balance as a proportion of loans and advances to onshore RMB customers was 71.66%, maintaining a relatively high level.

BOC’s non-performing asset ratio in 2025 was 1.23%, down 0.02 percentage points year over year; at year-end last year, the non-performing loan ratio for corporate real estate loans was 6.26%, up 1.32 percentage points year over year.

BOC’s non-interest income increased 19% year over year to 2191.6 billion yuan, supporting an increase in the overall revenue last year.

BOC performance announcement

CMB revenue up only slightly by less than 0.1%; net interest income up 2%

In 2025, CMB’s net operating income rose marginally by 0.05% year over year to 3372.7 billion yuan RMB. Net interest income was 2155.9 billion yuan, up 2% year over year. Net non-interest income was 1216.8 billion yuan, down 3.3%.

CMB final dividend of 1.003 yuan RMB; net interest spread in the 4th quarter rose 3 bps quarter over quarter

CMB performance announcement

BoCom final dividend down 15% year over year

Bank of Communications (03328)
earned 2% more for full-year 2025, but its final dividend per share decreased 15% year over year to 16.84 cents in renminbi. Full-year dividends were 32.47 cents in renminbi, down 14% year over year.

Bank of Communications performance announcement

Postal Savings Bank final dividend down 16% year over year

Postal Savings Bank (01658)
earned 1.1% more for full-year 2025. Final dividend per share decreased 16% year over year to 9.53 cents in renminbi. Full-year dividends were 21.83 cents in renminbi, down 17% year over year.

Postal Savings Bank performance announcement

Citic Bank final dividend 19.3 cents in renminbi; up 12% year over year

Last year, Citic Bank’s net profit was 706.2 billion yuan, up 3% year over year. Earnings per share were 1.2 yuan in renminbi. Final dividend was 19.3 cents (including tax), up 12% year over year. Together with the interim dividend, the full-year payout was 0.381 yuan (including tax). Citic Bank’s net interest income was 1444.7 billion yuan, down 1.5%. Net interest margin was 1.63%, narrowing by 0.14 percentage points; non-interest income was 681.67 billion yuan, up 2.44%. Operating income was 2126.36 billion yuan, down 0.28% year over year.

Citic Bank earned 3% more last year; final dividend increased by 12% to 0.193 yuan in renminbi; current dividend yield 5.8%

Citic Bank performance announcement

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