Bank of Communications (3328) investor relations material

Executive summary

• Net profit attributable to shareholders rose 4.04% year-over-year to RMB47.87 billion for the first half of 2026, with net operating income up 6.77% to RMB142.54 billion.

• Total assets increased 4.58% from year-end 2025 to RMB16.26 trillion, and customer deposits grew 6.53% to RMB9.92 trillion.

• Net interest income rose 8.62% year-over-year, driven by a 2 basis point increase in net interest margin to 1.23%.

• The bank maintained a strong capital position, with a capital adequacy ratio of 16.00% and a leverage ratio of 7.12%.

Financial highlights

• Net interest income: RMB92.59 billion (+8.62% YoY); net fee and commission income: RMB20.47 billion (+0.07% YoY).

• Profit before tax: RMB53.64 billion (+14.34% YoY); net profit: RMB48.61 billion (+4.63% YoY).

• Cost-to-income ratio improved to 27.47% (down 2.47 percentage points YoY).

• Non-performing loan (NPL) ratio at 1.30%; provision coverage ratio at 203.80%.

• Earnings per share: RMB0.52 (down from RMB0.59 YoY due to increased share count).

Outlook and guidance

• The bank will focus on supporting the real economy, optimizing business structure, and enhancing asset quality.

• Plans to strengthen risk prevention, especially in real estate, local government debt, and inclusive retail business.

• Will leverage comprehensive financial licenses and regional advantages to support national strategies and Shanghai’s development as a financial center.