Industrial & Commercial Bank of China (ICKB) Q3 2026 Earnings Report
DE:ICKB Q3 2026 EPS Results
- Actual EPS
- EUR 0.81
- Consensus EPS
- EUR 0.78
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- EUR 0.68
DE:ICKB Q3 2026 Revenue Results
- Actual Revenue
- EUR 50.78B
- Expected Revenue
- EUR 29.54B
- Beat/Miss
- Beat by +EUR 21.24B
- YoY Revenue Growth
- +7.66%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/30/2026
- Time
- Before Open
- Conference Call
- Friday, October 30, 2026
Industrial & Commercial Bank of China's next earnings date is estimated for March 31, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was predominantly positive. ICBC reported 9.2% operating income growth, 6% net profit growth, stable NIM, expanding loans and deposits, improving overall asset quality, strong fee-based business momentum and continued investment in AI and strategic businesses. Management also expressed confidence in full-year performance and approximately 6% loan growth. The main cautions were expected NIM and loan-yield pressure, retail and inclusive finance asset-quality risks, uncertainty around future non-interest income growth, external market volatility and limited near-term dilution from the planned private placement.
ICBC said that if policy rates remain stable, NIM is expected to stable and find a bottom this year with slightly narrowing pressure next year; full year loan growth is expected to be around 6%, consistently above the national average and GDP growth, while next year’s credit environment will continue with slowing growth while improving quality. The Q4 bond market is expected to broadly maintain a range bound pattern, with project to Q4 government bond issuance of CNY 3.8 trillion and local government bond issuance CNY 2 trillion, and the bank’s maximum EVE change is expected to decline by 0.35 percentage points following capital injection. The bank is confident in carrying forward steady performance in both operating revenue and net profit for the full year, while fee income is expected to remain stable; time deposits repricing volume is similar to that of this year, retail asset quality is expected to remain manageable, mortgage asset quality is expected to gradually recover, business loan NPL ratio will remain stable, and inclusive finance asset quality will remain stable and controllable overall. Eligible subsidized mortgages represented 30% of all new loans and 50% of all loans in numbers from the first 20 days of October, and the bank expects its private placement’s dilution impact to be offset relatively quickly, with EPS dilution fully offset if 2026 attributed net profit growth reaches 3.3% year-on-year.
- Strong First Nine-Month ProfitabilityGroup operating income reached CNY 667.14 billion, up 9.2% year-on-year, while net profit was CNY 288.28 billion, up 6% year-on-year. Management said earnings growth accelerated compared with the first half and expressed confidence in carrying the steady performance through the full year.
- Resilient Net Interest Income and Margin StabilizationFirst-three-quarter NIM was 1.29%, up 1 basis point year-on-year and flat with the interim period. Net interest income increased 9.6% year-on-year in the initial performance overview and was reported as up 9.2% year-on-year by the finance department. The liability interest expense ratio fell 20 basis points from the beginning of the year.
- Growth in Non-Interest IncomeNon-interest income grew 7.7% year-on-year in the first three quarters. Other non-interest income increased 19.5% year-on-year, with equity and fund investment income reaching CNY 27.2 billion, up CNY 8.2 billion.
- Expanded Balance Sheet and Funding BaseTotal assets exceeded CNY 57 trillion, maintaining ICBC's position as the largest bank globally. Customer deposits increased by CNY 2.44 trillion to more than CNY 39 trillion, up 6.5%, while domestic RMB deposits rose CNY 2.3 trillion from the start of the year, up 7.9% year-on-year. Management said the funding base was more solid than ever.
- Loan and Bond Investment ExpansionOnshore RMB loans exceeded CNY 30 trillion, with the initial overview reporting an increase of CNY 1.64 trillion, or 5.7%. The corporate banking department reported onshore RMB loans up CNY 1.6 trillion, or 6.1% year-on-year. RMB bond investment reached CNY 16.7 trillion at the end of Q3, and the bond balance was reported as up CNY 1.95 trillion, or 13.9%, in the initial overview.
- Credit Growth and Strategic AllocationCumulative corporate loan disbursement was CNY 8.1 trillion, more than CNY 600 billion above the same period last year, with the corporate loan balance exceeding CNY 18.5 trillion. Loans to technology firms exceeded CNY 3 trillion, net new technology customers exceeded 30,000, and ICBC provided more than CNY 300 billion of cumulative financing support to eight national-level advanced manufacturing clusters. Green finance and inclusive finance loan growth both exceeded average loan growth.
- Full-Year Loan Growth Outlook Above National AverageManagement expects full-year loan growth to be around 6%, consistently above the national average and GDP growth. It also said the effects of policy measures, including the 25-basis-point PSL rate cut, increased relending support for technology innovation and technical transformation, and the new real estate development model, are expected to gradually materialize from the fourth quarter into next year.
- Improved Overall Asset QualityThe NPL ratio was 1.29%, down 2 basis points from the end of last year. The onshore corporate loan NPL ratio was 1.16%, down 13 basis points from the beginning of the year. Management said both NPL balances and NPL ratios declined across major industries including manufacturing, wholesale, retail, energy and transportation.
- Strong Risk Absorption and Capital PositionManagement said provisions remained ample and prudent, asset quality stayed stable and risk absorption capacity strengthened further. Since listing, the provision coverage ratio increased from 60.37% to 211.64%, while the capital adequacy ratio increased from 10.4% to 18.5%.
- Controlled Interest-Rate RiskThe maximum EVE change at the end of Q3 was 14.15%, down 0.26 percentage points from the beginning of the year and up 0.06 percentage points from midyear, remaining within the regulatory threshold. Management said the 2026 regulatory parameter adjustment reduced the maximum EVE change ratio by approximately 1.1 percentage points, while the planned capital injection is expected to reduce it by 0.35 percentage points.
- Fee-Based Business MomentumAgency sales of precious metals, funds and wealth management products grew 97%, 55% and 6%, respectively. Pension-related income increased 35%, bank acceptance bills, letters of credit and international settlement revenue rose 16%, custody revenue increased 8%, equity services, financing and advisory revenue rose 17%, and guarantee fee income increased 3%. Personal customer AUM reached CNY 27 trillion.
- Technology, AI and Equity Business ExpansionICBC has deployed large language models across more than 700 scenarios and is implementing an AI-ICBC framework covering an enterprise AI engine, an AI data foundation and three smart application platforms. Equity investments generated more than CNY 10 billion of book valuation revenue contribution, with more than 1,500 technology-sector equity projects and an AI-powered risk early-warning platform.
- Shareholder Returns and Strategic Capital SupportThe interim payout ratio was raised to 31%. Cumulative cash dividends since listing exceeded CNY 1.6 trillion, while the closing remarks cited cumulative dividends of CNY 1.69 trillion including the 2026 interim dividend. The CNY 100 billion private placement has been approved by the board and shareholders and is undergoing regulatory approval, with proceeds intended to support national priorities, core industrial, commercial and technology finance, international expansion and comprehensive financial services.
- Long-Term Scale and Value CreationOver 20 years since listing, total assets increased to more than CNY 57 trillion, corporate customers exceeded 15 million and personal customers exceeded 780 million. Cumulative total returns with dividends reinvested were 577.93% for A shares and 635.76% for H shares, with CAGRs of 10.07% and 10.53%, respectively.
DE:ICKB Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 31, 2027 | 2026 (Q4) | 0.75- | 0.72 | ― | ― |
| Oct 30, 2026 | 2026 (Q3) | 0.780.81 | 0.68 | 18.71% (+0.13) | |
| Aug 28, 2026 | 2026 (Q2) | 0.650.64 | 0.59 | 8.48% (+0.05) | |
| Apr 29, 2026 | 2026 (Q1) | 0.650.63 | 0.57 | 10.90% (+0.06) | |
| Mar 27, 2026 | 2025 (Q4) | 0.700.72 | 0.66 | 8.39% (+0.06) | |
| Oct 30, 2025 | 2025 (Q3) | 0.650.68 | 0.63 | 7.97% (+0.05) | |
| Aug 29, 2025 | 2025 (Q2) | 0.610.59 | 0.58 | 1.07% (+0.01) | |
| Apr 29, 2025 | 2025 (Q1) | 0.640.57 | 0.59 | -4.52% (-0.03) | |
| Mar 28, 2025 | 2024 (Q4) | 0.660.66 | 0.64 | 2.78% (+0.02) | |
| Oct 30, 2024 | 2024 (Q3) | 0.640.63 | 0.59 | 7.16% (+0.04) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
