Industrial and Commercial Bank of China (1398) investor relations material

Executive summary

• Operating revenue for H1 2026 reached CNY 446.163 billion, up 9.1% YoY, with net profit at CNY 176.475 billion, up 4.54%.

• Total assets stood at CNY 57.07 trillion, up 6.7% from year-end 2025; loans nearly CNY 32 trillion, deposits CNY 39 trillion.

• Strategic transformation and digitalization are driving new growth, with strong performance across all business segments.

• Interim dividend payout ratio raised to 31%, totaling about CNY 53.85 billion, with yields of 4.22% (A shares) and 5.36% (H shares).

• Cost-to-income ratio improved to 23.70%, and NPL ratio decreased to 1.29%.

Financial highlights

• Net interest income: CNY 341.237 billion (+8.8% YoY); fee income: CNY 69.235 billion (+3.3% YoY); non-interest income: CNY 104.9 billion (+9.9% YoY).

• Operating profit: CNY 207.028 billion (+5.6% YoY); net profit attributable to equity holders: CNY 173.682 billion.

• Total assets: CNY 57.07 trillion; total liabilities: CNY 52.71 trillion.

• Basic and diluted EPS: CNY 0.47.

• Net cash inflow from operating activities: CNY 1.369 trillion.

Outlook and guidance

• Management expects continued revenue and net profit growth for the full year, with margin stabilization as deposit repricing effects gradually wane.

• Focus remains on optimizing asset-liability structure, reducing liability costs, and supporting high-quality economic development.

• Strategic priorities include technology finance, green finance, inclusive finance, pension finance, and digital finance.

• Non-interest income expected to benefit from capital market recovery and technology sector investments.

• Continued emphasis on AI-driven transformation and comprehensive financial solutions.