China Minsheng Banking (600016) investor relations material

Executive summary

• Revenue for H1 2026 reached RMB 75.17 billion, up 3.84% year-over-year, with net profit attributable to shareholders at RMB 19.54 billion, down 8.62% year-over-year.

• Net interest income increased 6.87% year-over-year, while non-interest income declined 2.58%.

• Credit impairment losses rose 20.81% year-over-year, impacting profitability.

• Asset quality remained stable with a non-performing loan (NPL) ratio of 1.47%, down 0.02 percentage points from year-end 2025.

• The bank maintained robust capital and liquidity positions, with a capital adequacy ratio of 13.36% and liquidity coverage ratio of 134.11%.

Financial highlights

• Operating income: RMB 75.17 billion (+3.84% YoY); net interest income: RMB 52.58 billion (+6.87% YoY); non-interest income: RMB 22.58 billion (-2.58% YoY).

• Net profit attributable to shareholders: RMB 19.54 billion (-8.62% YoY).

• Basic and diluted EPS: RMB 0.40 (-11.11% YoY).

• Cost-to-income ratio improved to 27.26% from 28.54% YoY.

• Net interest margin (NIM): 1.47% (+8bps YoY); net interest spread: 1.39% (+9bps YoY).

• Total assets: RMB 7.79 trillion (-0.49% from year-end 2025); total loans: RMB 4.51 trillion (+1.79%); total deposits: RMB 4.39 trillion (+2.70%).

• NPL ratio: 1.47%; provision coverage: 142.19%.

Outlook and guidance

• Management expects stable operations in H2 2026, with continued focus on optimizing asset-liability structure and risk control.

• Industry-wide net interest margin pressure is expected to persist, with asset quality remaining generally stable but retail risk pressure elevated.

• The bank will prioritize customer acquisition, digital transformation, and risk management to support high-quality, sustainable growth.