Bank of China reported a net profit attributable to shareholders of RMB 132.03 billion for the first half of 2026, up 4.67% from the same period a year earlier, on operating income of RMB 357.11 billion, an 8.41% year-on-year increase.
Net interest income rose 10.20% year on year to RMB 236.73 billion, one of the standout figures within the interim results, according to the disclosure released by the state-owned lender, the fourth-largest of China's big four commercial banks and the most internationally oriented among them.
NET INTEREST INCOME LEADS THE LINE
The double-digit growth in net interest income marks a strong performance for the core lending business at a time when Chinese banks have collectively been contending with pressure on margins from lower loan prime rate settings and deposit repricing dynamics. A 10.20% year-on-year expansion in net interest income is a notable outcome against that backdrop.
Non-interest income growth also aided the results, contributing to the 8.41% year-on-year rise in the broader operating income line and reinforcing the diversified revenue mix at the bank, whose franchises span domestic Chinese lending, treasury and markets operations, and a substantial international banking business.
Bank of China is the most internationally exposed of the country's four largest state-owned lenders, with substantial franchises in Hong Kong through Bank of China (Hong Kong), cross-border trade finance across Asia-Pacific and overseas banking operations in dozens of countries. This international dimension distinguishes its revenue profile from that of its peers in the big four.
The RMB 236.73 billion net interest income figure underpins the group's headline result, and the fact that this line grew at more than double the pace of net profit points to the impact of provisioning, tax and other below-the-line items in dampening bottom-line growth relative to the underlying revenue trajectory.
ASSET QUALITY REMAINS ROBUST
Asset quality stayed strong during the period, according to the disclosure, a signal that echoes the messaging from peers in this reporting cycle and offers reassurance to investors focused on the credit trajectory of Chinese lenders against a mixed macroeconomic backdrop, particularly in relation to real estate exposures and local government-related financing.
Mid-single-digit profit growth, high-single-digit operating income expansion and double-digit net interest income growth combine to produce a broadly favourable interim result for the group, and reinforce its position within the range delivered by the big four Chinese banks at their end-August disclosures. The scale of the international franchise, alongside the anchored Hong Kong presence through Bank of China (Hong Kong), continues to give the group a distinct earnings profile relative to its purely domestic peers.
The results were published through Bank of China's investor relations channels, alongside supporting materials distributed to market participants. Further commentary from management on strategic priorities is expected at subsequent analyst engagements, with the next scheduled release covering the nine months to September. Investors will focus on whether the strong pace of net interest income growth can be sustained through the second half of the year, given the sector-wide backdrop of margin pressure, and on the trajectory of asset quality metrics across the group's domestic and international portfolios.