Shanghai Pudong Development Bank (600000) Q1 2026 earnings summary

Executive summary

• Achieved steady growth in total assets and liabilities, with total assets up 2.22% from year-end 2025 to RMB 10.31 trillion.

• Net profit attributable to shareholders rose 1.49% year-over-year to RMB 17.86 billion for Q1 2026.

• Operating income increased 1.42% year-over-year to RMB 46.57 billion.

• Asset quality improved, with NPL ratio down to 1.23% and provision coverage up to 204.79%.

• Strategic focus on digitalization, risk control, and business structure optimization drove performance.

Financial highlights

• Operating income: RMB 46.57 billion, up 1.42% year-over-year.

• Net profit attributable to shareholders: RMB 17.86 billion, up 1.49% year-over-year.

• Net interest income: RMB 32.10 billion, up 12.43% year-over-year.

• Cost-to-income ratio improved to 22.41%, down 2.18 percentage points year-over-year.

• Cash flow from operating activities turned positive to RMB 91.72 billion from negative RMB 202.00 billion a year ago.

Outlook and guidance

• Will continue to deepen digital transformation and focus on five key business tracks: technology finance, supply chain finance, inclusive finance, cross-border finance, and treasury finance.

• Plans to further optimize asset and liability structure, enhance risk management, and support national strategic sectors.

• Expects to maintain steady growth in loans and deposits, with emphasis on high-quality development.