China‘s State Banks Face Rising Profit Pressure, Lower Margins in H1
中国国有银行上半年利润压力上升，利润率下滑
China’s six state banks, including ICBC and China Construction Bank, face growing profitability pressure due to a slowing economy, low interest rates and weak loan demand in H1 2025. ICBC, the world’s largest bank by assets, saw 1.4% lower net profit (168.1b yuan) and NIM down to 1.3% (from 1.42%), below the 1.8% profitable threshold. CCB’s net profit also dropped 1.4% (162b yuan) with NIM at 1.4%. Bank of China’s profit fell 0.85% (117.6b yuan), NIM slightly down. Only Agricultural Bank posted 2.7% profit growth (139.5b yuan) but NIM declined. All had minor NPL reductions, supported by the government.
2025 年上半年，受经济增速放缓、利率走低及贷款需求疲软影响，包括工商银行和建设银行在内的中国六家国有银行面临日益增大的利润压力。作为全球资产规模最大的银行，工商银行上半年净利润同比下降 1.4%，至 1681 亿元人民币，净息差（衡量银行盈利能力的关键指标）从去年年底的 1.42% 降至 1.3%，低于普遍认为维持合理盈利所需的 1.8% 阈值。建设银行净利润同比下降 1.4%（1620 亿元人民币），净息差为 1.4%；中国银行净利润下降 0.85%（1176 亿元人民币），净息差小幅下滑。唯有农业银行净利润实现 2.7% 的增长（1395 亿元人民币），但净息差仍有所下降。在政府大力支持下，所有银行的不良贷款率均有小幅下降。
