Bank of Communications reported a net profit attributable to shareholders of RMB 47.87 billion for the first half of 2026, an increase of 4.04% from the same period a year earlier, as net operating income rose 6.77% year on year to RMB 142.54 billion.
Total assets expanded by 4.58% from the year-end 2025 position, according to the interim disclosure, reflecting continued balance sheet growth at one of China's largest state-owned commercial lenders and one of the systemically important institutions within the domestic banking sector.
TOP-LINE GROWTH ACCELERATES
Growth in both net operating income and net profit outpaced the rates recorded in the first quarter, the bank said, while net interest margin rose 2 basis points year on year to 1.23%, driving an 8.62% increase in net interest income.
Profit before tax rose 14.34% to RMB 53.64 billion as business costs fell 2.08% and credit impairment losses rose 5.26%, while the cost-to-income ratio dropped 2.47 percentage points to 27.47%.
Bank of Communications, known as BoCom, is the smallest of China's six large state-owned commercial banks by total assets. HSBC holds a 16.00% stake, while the Ministry of Finance is its largest shareholder with 29.86%.
The balance of cross-border trade financing rose 70.83% from the end of 2025, the bank said.
BALANCE SHEET CONTINUES TO EXPAND
The 4.58% year-to-date expansion in total assets since the end of 2025 came as loans and advances to customers rose 4.01% to RMB 9.49 trillion and customer deposits grew 6.53% to RMB 9.92 trillion.
Reaccelerating top-line growth combined with mid-single-digit profit expansion still left BoCom with the slowest revenue growth and the second-slowest profit growth among China's six large state-owned banks, all of which reported interim results on 28 August.
The results were filed with the Hong Kong stock exchange on 28 August. The non-performing loan ratio was 1.30% at the end of June, up 0.02 percentage points from the end of 2025.
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