Zhong Guo Jin Rong Xin Xi Wang·2025-08-29 13:38Core Viewpoint - The net interest margin (NIM) is expected to continue declining in the second half of the year, but the rate of decline will further narrow, with confidence in the stabilization trend of NIM in the future [1][2]. Group 1: Financial Performance - In the first half of 2025, the net interest margin for the Industrial and Commercial Bank of China (ICBC) was 1.3%, indicating a continued downward trend, but with a narrowing margin of decline [2]. - The bank's strategies in response to the low interest margin environment have led to a sustainable stabilization of NIM, supported by effective asset-liability management measures [2]. Group 2: Strategic Focus - ICBC is focusing on duration management of asset-liability combinations to enhance resilience against external shocks [2]. - The bank emphasizes cost management of liabilities, which is a key factor in stabilizing the interest margin [2]. - There is a strong focus on optimizing the structure of assets and liabilities, contributing to the recovery of the interest margin [2]. Group 3: Loan Growth and Pricing - In terms of asset growth, ICBC is prioritizing structural growth over total volume, leveraging its competitive advantages in corporate finance, inclusive finance, and financial technology [2]. - The growth rates for technology loans, inclusive loans, and loans to core industries of the digital economy were 20%, 17.3%, and 19.3% respectively, all exceeding industry averages [2]. - The bank's new RMB loan interest rate has decreased to 2.82%, down 22 basis points from 2024 [2]. Group 4: Risk Management - ICBC is focusing on marginal price improvement while adhering to risk pricing principles and regulatory requirements to prevent irrational declines in loan rates [3]. - The bank is committed to precise risk prevention and has strengthened its three-line defense mechanism, leading to a steady improvement in the quality of credit assets [3].