China’s five major state-owned banks, including ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China, reported a 3-5% increase in net profit for the first half of 2026, their strongest performance since the property sector downturn began. Bank of China led the pack with a 5.1% rise in net profit. Net interest margin improved for the first time in over four years, ticking up by 1 basis point to 1.41% in the second quarter. Smaller regional banks outpaced the big lenders, with Bank of Ningbo posting a 12.12% profit increase. Non-performing loan ratios across the major banks remained stable in the 1.08-1.15% range.
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