The six major state-owned banks' total net profit in the first quarter increased by 3.63% year-on-year

Yang Jie, our reporter

On the evening of April 29, six major state-owned banks collectively disclosed their Q1 2026 reports. In Q1, the six major state-owned banks achieved a steady start in their operations. According to statistics compiled by reporters from Securities Daily, in Q1, all six major state-owned banks achieved year-over-year double growth in both operating income and net profit attributable to the parent company. In total, the six major state-owned banks recorded net profit attributable to the parent company of 356.936 billion yuan, up 3.63% from 344.42 billion yuan in the same period of 2025.

Specifically, in Q1, the operating revenues of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank of China, and Bank of Communications were 230.370 billion yuan, 206.255 billion yuan, 178.846 billion yuan, 211.256 billion yuan, 96.162 billion yuan, and 69.618 billion yuan, respectively. The operating revenues of all six major state-owned banks recorded positive year-over-year growth. Among them, China Construction Bank and Agricultural Bank of China both saw year-over-year revenue growth of over 10% in Q1, at 11.15% and 10.49%, respectively.

In terms of net profit attributable to the parent company, Industrial and Commercial Bank of China still ranked first. In Q1, the bank achieved net profit attributable to the parent company of 869.41 billion yuan. China Construction Bank followed closely, with net profit attributable to the parent company of 862.91 billion yuan. Agricultural Bank of China reported net profit attributable to the parent company of 751.85 billion yuan. Bank of China achieved net profit attributable to the parent company of 566.31 billion yuan. Postal Savings Bank and Bank of Communications recorded net profit attributable to the parent company of 257.26 billion yuan and 261.62 billion yuan, respectively. Net profit attributable to the parent company at all six major state-owned banks recorded positive year-over-year growth.

In terms of asset size, the assets of the six major state-owned banks expanded steadily. As of the end of Q1, Industrial and Commercial Bank of China led the group with total assets of 55.77 trillion yuan. Agricultural Bank of China’s asset size surpassed 50 trillion yuan, reaching 51.03 trillion yuan. China Construction Bank’s asset size was 47.13 trillion yuan. The asset sizes of Bank of China, Postal Savings Bank, and Bank of Communications were 39.59 trillion yuan, 19.51 trillion yuan, and 16.27 trillion yuan, respectively.

The non-performing loan ratio is an important indicator for measuring the asset quality of commercial banks. As of the end of Q1, the asset quality of the six major state-owned banks remained generally stable overall. The non-performing loan ratios of Agricultural Bank of China and Bank of China were 1.25% and 1.22%, respectively, decreasing by 0.02 percentage points and 0.01 percentage points, respectively, from the end of the previous year. The non-performing loan ratios of Industrial and Commercial Bank of China and China Construction Bank were both 1.31%, and they were both unchanged from the end of the previous year. Postal Savings Bank had the lowest non-performing loan ratio at 0.99%. Bank of Communications’ non-performing loan ratio was 1.30%.

In terms of capital adequacy ratios, as of the end of Q1, the capital adequacy ratios of the six major state-owned banks—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank, and Bank of Communications—met regulatory requirements, at 18.21%, 17.40%, 18.23%, 19.00%, 13.73%, and 15.61%, respectively, indicating that their overall risk coverage capacity was sufficient.

Since the beginning of this year, the six major state-owned banks have highlighted their primary responsibilities and core businesses, continuously increased high-quality financial supply to the real economy, and served as a main force in supporting the real economy.

In Q1 this year, Industrial and Commercial Bank of China directed loans to manufacturing and technology with balances exceeding 5 trillion yuan and 6 trillion yuan, respectively, and trade financing exceeding 1 trillion yuan. Agricultural Bank of China has taken another step forward in serving rural revitalization. As of the end of Q1, Agricultural Bank of China’s county-level loan balance was 11.8 trillion yuan, adding 836.5 billion yuan compared with the end of last year, a growth rate of 7.65%. Bank of China has fully supported accelerating the construction of a modern industrial system. As of the end of March, the bank’s onshore manufacturing loan balance was 3.67 trillion yuan, up 5.00% from the end of last year, and its manufacturing medium- and long-term loan balance was 1.56 trillion yuan, up 4.13% from the end of last year. China Construction Bank has actively supported the development of new productive forces, serving the construction of a modern industrial system, and promoting the implementation of a series of service plans including “Good Construction for Intelligent Manufacturing,” “Good Construction for Strengthening the Foundation,” and “Good Construction for Technology,” with manufacturing loans increasing by 17% compared with the end of last year. As of the end of March, Postal Savings Bank’s agricultural-related loan balance was 2.63 trillion yuan, and its inclusive small and micro enterprise loan balance was 1.90 trillion yuan. As of the end of Q1, Bank of Communications’ domestic loans for manufacturing, private enterprises, and agriculture increased by 8.33%, 5.53%, and 6.89%, respectively, all higher than the average growth level of various loans.

(Edited by: Qian Xiaorui)

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