Bank of Chengdu (601838) H2 2025 earnings summary

Executive summary

• Total assets reached RMB 1.40 trillion, up 11.87% year-over-year; deposits and loans grew 11.59% and 15.78% respectively.

• Operating income was RMB 23.60 billion, up 2.70% year-over-year; net profit attributable to shareholders was RMB 13.28 billion, up 3.31%.

• Weighted average ROE was 15.39%; NPL ratio at 0.68%; provision coverage at 426.17%.

• Board proposes a cash dividend of RMB 0.921 per share (RMB 3.90 billion total), representing 30.04% payout ratio.

• KPMG issued an unqualified audit opinion.

Financial highlights

• Net interest income rose 8.37% to RMB 20.01 billion; net fee and commission income fell 29.59% to RMB 0.50 billion.

• Cost-to-income ratio improved to 23.73%; asset profit ratio at 1.00%.

• Basic EPS was RMB 3.07; diluted EPS RMB 3.07.

• Operating cash flow turned positive to RMB 74.86 billion from negative RMB 94.23 billion last year.

• Capital adequacy ratio at 13.81%; core tier-1 at 8.91%.

Outlook and guidance

• 2026 macroeconomic outlook remains positive, with focus on high-quality growth and risk prevention.

• Strategic priorities: support regional development, expand green and inclusive finance, enhance digital transformation, and maintain prudent risk controls.

• Plans to further strengthen retail, wealth management, and digital channels.