Industrial Bank (601166) Q1 2025 earnings summary

Executive summary

• Total assets reached RMB 10,631.3 billion as of March 31, 2025, up 1.17% from year-end 2024, with loan balances up 1.37% and deposits up 1.73%.

• Net profit attributable to shareholders was RMB 23.80 billion, down 2.22% year-over-year; basic EPS was RMB 1.15, down 2.22%.

• Asset quality remained stable with a non-performing loan (NPL) ratio of 1.08%, up 0.01 percentage points from year-end 2024.

• Customer base expanded, with corporate clients up 1.91% and retail clients exceeding 111 million, up 1.41%.

Financial highlights

• Operating income for Q1 2025 was RMB 55.68 billion, down 3.58% year-over-year.

• Net interest income grew 1.29% to RMB 37.72 billion; net fee and commission income rose 8.54% to RMB 6.73 billion.

• Non-interest income declined 12.42% to RMB 17.96 billion, mainly due to market rate volatility.

• Pre-provision profit was RMB 41.64 billion, down 4.36% year-over-year.

• Net cash flow from operating activities was negative RMB 59.41 billion, a larger outflow than the previous year.

Outlook and guidance

• Focus remains on supporting the real economy, expanding green and technology loans, and enhancing risk management.

• Continued efforts to lower deposit costs and improve digital customer operations.