BOCOM net interest income growth accelerates in nine months
Nine-month net interest income reached RMB140.694 billion, up 9.36% year-on-year, as the net interest margin widened 4 bps to 1.24%.
Bank of Communications (BOCOM) reported net interest income of RMB140.694 billion for the nine months to 30 September 2026, a 9.36% year-on-year increase, after a 7.21% year-on-year rise to RMB45.675 billion in the three months to 31 March 2026. The net interest margin for the nine-month period was 1.24%, up 4 bps year-on-year, after being 1.23% and flat year-on-year in the first quarter.
Net operating income for the nine months was RMB215.970 billion, up 7.95% year-on-year. Profit before tax was RMB87.380 billion, up 16.17%. Net profit attributable to shareholders of the parent company was RMB74.262 billion, up 6.10%. Basic earnings per share were RMB0.79. Annualised return on weighted average equity was 8.10%, down 0.38 percentage points year-on-year.
Net fee and commission income was RMB28.876 billion, down 1.78% year-on-year, after a 3.04% year-on-year decline to RMB11.241 billion in the three months to 31 March 2026. Net gains from trading activities were RMB19.897 billion, up 22.71% year-on-year, which the bank attributed mainly to the completion of the CXMT Corporation IPO and related fair-value gains on equity investments.
Business cost was RMB59.499 billion, down 0.88% year-on-year, and the cost-to-income ratio was 27.59%, down 2.48 percentage points year-on-year. Asset impairment losses were RMB48.604 billion, up 10.17% year-on-year. Income tax was RMB12.437 billion, with an effective tax rate of 14.23%.
Loans and advances to customers at 30 September 2026 were RMB9,597.522 billion, up 5.19% from year-end 2025. Corporate loans rose 8.64% to RMB6,566.191 billion. Personal loans fell 3.83% to RMB2,726.487 billion. Discounted bills rose 24.57% to RMB304.844 billion. At 31 March 2026 the loan book was RMB9,444.598 billion, up 3.52% from year-end 2025.
Deposits from customers were RMB9,981.473 billion, up 7.24% from year-end 2025. Demand deposits accounted for 28.18%, down 2.65 percentage points, and time deposits 70.36%, up 2.98 percentage points. At 31 March 2026 deposits were RMB9,685.327 billion, up 4.06% from year-end 2025, with demand deposits at 30.29% and time deposits at 68.14%. Total assets were RMB16,476.080 billion, up 5.97% from year-end 2025.
Credit impairment losses on loans for the nine months were RMB45.864 billion, up 10.96% year-on-year, versus a 9.30% year-on-year increase to RMB13.532 billion in the three months to 31 March 2026. Non-performing loans at 30 September 2026 were RMB123.892 billion, with an NPL ratio of 1.29%, up 0.01 percentage point from year-end 2025. Provision coverage was 200.11%, down 8.27 percentage points, and the provision ratio 2.58%, down 0.09 percentage point. At 31 March 2026 NPLs were RMB122.466 billion, the NPL ratio 1.30%, coverage 202.80% and the provision ratio 2.63%.
The CET1 capital adequacy ratio at 30 September 2026 was 11.35%, versus 11.25% at 31 March 2026. The capital adequacy ratio was 16.09% and the tier-1 ratio 12.55%. Shareholders’ equity attributable to the parent was RMB1,312.430 billion, up 3.40% from year-end 2025.
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