Postal Savings Bank of China (1658) Q3 2026 earnings summary

Executive summary

• 9M 2026 operating income rose 6.21% YoY to RMB281.669bn and net profit rose 4.45% to RMB80.208bn; growth was supported by non-interest income and lower operating expenses.

• Credit impairment losses increased 71.90% YoY to RMB40.023bn, while NPL, special-mention and overdue-loan ratios all rose from year-end 2025.

Financial highlights

• Q3 operating income was RMB89.144bn, up 4.05% YoY; net profit was RMB28.537bn, up 4.23%, and profit attributable to equity holders was RMB28.553bn, up 4.46%.

• 9M net interest income increased 4.58% YoY to RMB220.142bn; net fee and commission income rose 8.72% to RMB25.107bn, and other non-interest income rose 15.26% to RMB36.420bn.

• 9M operating expenses fell 0.65% YoY to RMB153.736bn; net profit attributable to equity holders was RMB80.056bn, up 4.56%.

• Basic and diluted EPS was RMB0.64 for 9M, down 3.03% YoY; operating cash flow was RMB335.188bn, down 4.23%.

Outlook and guidance

• Priorities for the 15th Five-Year Plan period include building a more inclusive, balanced, stable and intelligent large retail bank, advancing strategic reforms and strengthening asset-liability, revenue, cost, customer and risk management.

• Non-interest income growth is targeted through wealth management, payments and settlement, investment banking, transaction banking and financial markets; AI and digital transformation remain strategic priorities.