Xin Hua Cai Jing·2025-09-01 10:40Core Viewpoint - The six major state-owned banks in China demonstrated strong operational resilience in the face of narrowing net interest margins, achieving steady asset growth and a significant increase in non-interest income during the first half of 2025 [1][2]. Group 1: Financial Performance - The total operating income of the six major banks reached approximately 1.83 trillion yuan, showing positive year-on-year growth [1]. - By the end of June 2025, the Industrial and Commercial Bank of China (ICBC) led the industry with total assets of 52.32 trillion yuan, a 7.2% increase from the previous year [2]. - Agricultural Bank of China (ABC) followed with 46.86 trillion yuan, up 8.37%, and China Construction Bank (CCB) with 44.43 trillion yuan, up 9.52% [2]. - The net profit attributable to shareholders showed divergence, with ABC reporting the fastest growth at 1,395.1 billion yuan, a 2.66% increase [3][4]. Group 2: Net Interest Margin - All six banks experienced a decline in net interest margin, but with signs of marginal improvement [6][7]. - The net interest margin for Postal Savings Bank dropped significantly to 1.7%, down 0.17 percentage points from the end of 2024 [7]. - ICBC's net profit decreased by 1.39% to 1,681.03 billion yuan, while CCB and Bank of China also reported declines [3][4]. Group 3: Asset Quality - The overall asset quality remained stable, with ICBC and CCB reporting a non-performing loan (NPL) ratio of 1.33%, a slight decrease from the previous year [7][8]. - The NPL ratio for Bank of China was 1.24%, also showing a decrease [7][8]. Group 4: Non-Interest Income - The banks actively adjusted their business structures to increase non-interest income, achieving notable results [10]. - Bank of China reported a 26.43% increase in non-interest income, reaching 1141.87 billion yuan, with its share of total operating income rising from 28.48% to 34.71% [12][13]. - ICBC's non-interest income grew by 6.5% to 1135.16 billion yuan, increasing its share of total income to 26.58% [14]. Group 5: Future Outlook - The banks expressed cautious optimism regarding the future trajectory of net interest margins, with strategies in place to optimize asset-liability structures and enhance income from non-interest sources [14][15]. - The total dividend payout plan for the six banks exceeded 200 billion yuan, indicating confidence in their financial stability [15].