ICBC (01398) announced interim results. Net profit to mother of 173.682 billion yuan increased 3.32% year over year

According to the Zhitong Finance App, ICBC (01398) announced interim results for the six months ended June 30, 2026. The group obtained net interest income of 341,237 billion yuan, up 8.82% year on year; operating income of 446.163 billion yuan, up 9.06% year on year; net profit attributable to shareholders of the parent company was 173.682 billion yuan, up 3.32% year on year; basic earnings per share were 0.47 yuan.

In the first half of 2026, the Bank adhered to the leadership of party building, the transformation of five modernizations, and thoroughly implemented the political and popular nature of financial work. The first half of the “15th Five-Year Plan” plan had a strong start and started well, and the operation maintained a steady, progressive and good development trend. The first half of the year achieved net profit of 176.475 billion yuan, an increase of 4.5% over the previous year, an annualized average return on total assets of 0.64%, and an annualized weighted average return on equity of 8.63%. Revenue increased 9.1% to 446.163 billion yuan. Among them, net interest income was 341,237 billion yuan, an increase of 8.8%; non-interest income was 104.926 billion yuan, an increase of 9.9%. Operating expenses amounted to 111,379 billion yuan, an increase of 2.6%, and the cost-to-revenue ratio was 23.70%. Accrued asset impairment losses amounted to $127.756 billion, an increase of 22.2%. Income tax expenses amounted to $33.535 billion, an increase of 11.0%.

In the first half of 2026, net interest income was 341,237 billion yuan, an increase of 27.661 billion yuan over the previous year, an increase of 8.8%. Interest income was 660.777 billion yuan, a decrease of 12.826 billion yuan, a decrease of 1.9%; interest expenses amounted to 319.540 billion yuan, a decrease of 40.487 billion yuan, a decrease of 11.2%. Affected by factors such as improving debt costs and optimizing the balance and liability structure, the annualized net interest spread was 1.17%, up 1 basis point from the previous year, and the annualized net interest yield was 1.29%, down 1 basis point from the previous year.

In the first half of the year, fee and commission revenue was $76.591 billion, an increase of $2,429 billion over the previous year, or 3.3%. Revenue from public finance business, personal finance, and private banking business increased by 1,697 billion yuan and 1,467 billion yuan respectively, mainly due to seizing market opportunities and increasing revenue from operations such as precious metals, agency funds, and consignment wealth management; other revenue increased by 646 million yuan, mainly due to better growth in the pension business. Affected by external factors such as changes in the market environment, bank card business revenue has declined; guarantee commitment rates have been voluntarily lowered, and revenue from related products has decreased.