China Construction Bank (939) Q2 2026 earnings summary

Executive summary

• Operating income for H1 2026 rose 10.48% year-over-year to RMB426.3 billion, with net profit up 5.56% to RMB171.7 billion; net profit attributable to equity shareholders increased 4.62%.

• Achieved steady growth in assets and liabilities, with total assets reaching RMB47.33 trillion, up 3.72% from end-2025.

• Maintained industry-leading capital adequacy (19.42%), ROE (9.52%), and cost-to-income ratio (22.17%).

• Focused on high-quality development, technology finance, green finance, and inclusive finance, with enhanced digital transformation and customer-centric service models.

• Asset quality remained stable: NPL ratio declined to 1.29%, and allowances to NPLs improved to 238.69%.

Financial highlights

• Net interest income increased 8.46% year-over-year to RMB310.96 billion; net non-interest income rose 16.31% to RMB115.38 billion.

• Gross loans to customers reached RMB29.34 trillion, up 5.65%; deposits from customers rose 3.19% to RMB31.82 trillion.

• Cost-to-income ratio improved to 22.17%, down 1.55 percentage points year-over-year.

• Fee and commission income reached RMB68 billion, with strong contributions from wealth management, credit cards, and settlement services.

• Overseas subsidiaries' net profit up 28.95% year-over-year.

Outlook and guidance

• Will continue to support the real economy, focus on Five Priorities, and advance digital and AI transformation.

• Plans to optimize asset-liability structure, enhance risk management, and maintain stable NIM.

• Committed to prudent capital management and sustainable dividend policy.

• Focus on strengthening risk and compliance management and enhancing consumer protection.

• Management expects continued macroeconomic uncertainty globally, but China’s economy is projected to remain stable.