EarningsQ2 2026 Earnings Report
MX:3988N Q2 2026 EPS Results
Actual EPS$0.56
Consensus EPS$0.54
Beat/MissBeat by +$0.03
One Year Ago EPS$0.48
MX:3988N Q2 2026 Revenue Results
Actual Revenue$815.56B
Expected Revenue$446.14B
Beat/MissBeat by +$369.42B
YoY Revenue Growth+6.26%
Earnings Announcement Details
QuarterQ2 2026
Date08/28/2026
TimeBefore Open
Conference CallFriday, August 28, 2026
MX:3988N Upcoming Earnings
Bank of China's next earnings date is estimated for October 31, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:3988N Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. BOC reported steady revenue and profit growth, stable NIM, improved efficiency, strong capital and asset-quality metrics, higher shareholder distributions, continued overseas contribution, and broad-based expansion in technology finance, green finance, custody, wealth management, payments, bond underwriting, AI, and domestic consumption support. Management also acknowledged pressure on domestic asset yields, a low-interest-rate environment, uncertain U.S. dollar rates, slower growth, and sector-specific credit risks, but presented these as areas under active management.Company Guidance
Steady First-Half Financial Growth
First-half operating revenue was RMB 357.1 billion and profit before provision was RMB 230.4 billion, increasing by 8.41% and 9.77% respectively. Net profit attributable to shareholders grew by 4.67% and 5.10% respectively, with the growth rate achieving quarter-on-quarter growth since 2025.
Stable Net Interest Margin and Improved Efficiency
NIM stabilized at 1.27%, while net interest income grew by 10.20%. Cost income ratio decreased by 1.68 percentage point, reflecting further improvement in operating efficiency. RMB NIM improved by 2 basis points compared with the first quarter, and foreign currency NIM improved by 13 basis points.
Balance-Sheet Expansion and Liability Cost Control
Total assets exceeded RMB 40 trillion, increasing by 4.77% compared with the end of last year. Domestic RMB loans grew by RMB 1.2 trillion, or 5.98%, while total liabilities reached RMB 36.95 trillion, increasing by 5.11%. Domestic RMB deposit interest rate reduced by 22 basis point, and management stated that liability cost remained within control.
Strengthened Asset Quality and Capital Position
The NPL ratio was 1.22%, down 0.01 percentage point, while newly incurred NPL and NPL balance both reduced. Provision coverage ratio was 285%, up 0.48 percentage point from the end of last year. CAR ratio was 18.31%, 80 basis points higher than the previous quarter.
Higher Shareholder Payout
BOC has paid more than RMB 1 trillion in cash dividends since its IPO, with the payout ratio maintained at a high of 30%. To mark the 20th anniversary of its IPO, the bank proposed increasing the payout ratio to 31% and declared a cash dividend of CNY 1.19 per 10 share.
Long-Term Scale and Globalization Milestones
Over 20 years since its IPO, asset scale grew by 8x and overseas institutional coverage expanded from 27 countries to 64 countries. Over the past five years, overseas profit contribution improved by 4.6 percentage points, while BOC stated that its NPL level was the lowest among peers and its CAR ratio ranked number eight among G-SIBs.
Expanded Global Network and RMB Clearing Leadership
BOC's global network covered 64 countries and regions, with the bank ranking number two globally in terms of institutions. RMB clearing network coverage reached 19 countries and regions, and BOC won RMB clearing bank status in England, Sri Lanka, and Indonesia. Cross-border RMB business scale ranked number one in the world.
Strong Cross-Border and Custody Capabilities
BOC provided services to 90% of the Fortune 500 companies in China and operated 7 by 24 multi-currency cash pool, fund transfer, and settlement services, with transfers and settlements able to be completed within seconds. It became the first Chinese global custody bank overseas; cross-border custody scale increased by 16.20% and 19.38% respectively.
Overseas Profit and Business Growth
Overseas net profit was stated as $6.4 billion, contributing 27.21% of total group net profit. Overseas ROE and cost income ratio were better than domestic performance, while overseas NIM increased by five basis point quarter-on-quarter and 11 basis point year-on-year. Overseas asset scale exceeded $1.34 trillion, up 5.67% year-on-year, and overseas loans grew by $26.1 billion, with a growth rate of 5.82%.
Growth in Technology and Green Finance
Tech loan balance accounted for more than 1/3 of total corporate loans, and BOC served 200,000 tech companies, including 5,200 core AI companies. Green finance balance grew by 13.32%, while green bond underwriting and investment scale ranked among the top in the industry.
Expansion of Inclusive and Pension Finance
Inclusive finance for micro and small enterprises grew in amount and customer number by 10.6% and 8.19% respectively. Individual pension contribution grew by 54%, and elderly care industry loan balance grew by 50%.
Digital Finance and Consumer Support
Mobile banking MAU increased by 6.6%, cross-border e-commerce transaction amount grew by 24% year-on-year, and POE loan balance grew by 9%. BOC provided CNY 200 billion of domestic consumption market loans in the first half and individual consumption loans to 3 million customers.
Customer and Custody Franchise Expansion
The number of corporate customers exceeded 9 million, growing by 7.54%, while effective individual customers reached 409 million. Mid-to-high end individual customers increased by 5.84% from the end of last year. Cash management accounts and daily average deposits grew by 7.94% and 10.69% respectively. Asset custody size reached RMB 26.75 trillion, growing by 10.27%, and comprehensive financing projects grew by 20% year-on-year.
Non-Interest Income Growth
First-half non-interest income was RMB 120.38 billion, increasing by 5.04% year-on-year and representing 33.71% of total income. Domestic corporate settlement fee income grew by 6.83%, debit card commission fee income grew by 6.5%, fund agency sale fee grew by 31%, and agency wealth management fee grew by 17% in Macau and Hong Kong.
Continued Custody and Wealth Management Momentum
Group custody asset scale grew by 10.27%, leading to a 10.29% increase in custody business revenue. Domestic asset custody and wealth management fee income grew by 12%, overseas custody assets grew by 16%, cross-border custody assets grew by 19%, and cross-border custody fee business grew by 13.09%.
Bond Underwriting Leadership
First-half bond underwriting exceeded RMB 750 billion and served over 300 issuers, while the bond business grew by over 30%. BOC underwrote 58 Panda bonds amounting to RMB 38 billion, remained number one in Panda bond underwriting for 12 years in a row, and was master underwriter for 140 dim sum bonds amounting to RMB 90.1 billion, accounting for 50% of market share.
Technology Infrastructure and AI Deployment
BOC was pressing ahead with 40 technology strategic projects, reducing delivery cycle timing by 15%. Its AI large language models had over 32,000 customers covering 3,800 scenarios, while paperless processes expanded to 70%. The bank incubated over 2,000 intelligent assistants and deployed AI across customer service, sales, credit, risk management, and operations.
Adoption of the 15th Five-Year Plan
The board adopted BOC's 15th Five-Year Plan, establishing priorities for the next five years, including capabilities to serve the real economy, global footprint and international competitiveness, comprehensive customer service, risk management, integrated operations, and a high-caliber talent pool.
Domestic Consumption and Employment Initiatives
BOC offered RMB 390 billion in loans to stabilize and expand employment. Individual account financial assets exceeded CNY 18 trillion, corporate credit balance in consumption areas increased by 7.7%, and new loans to the service sector exceeded CNY 640 billion. The bank's marketing activities led to consumption of more than RMB 4 trillion, while tax refund coverage reached 25 provinces and administrative regions and the number of tax refunds grew by 400%.
Expanded Services for Chinese Companies Going Global
BOC served about 530,000 companies in overseas markets, supported 45 listed currency pairs and foreign currency services for 100 currencies, provided derivative products in 90 currencies, and offered multi-currency loans with maximum maturities of 30 years. It also established service solutions for companies going global and a global service alliance covering finance, logistics, law, accounting, and think-tank services.
Technology Finance Ecosystem Development
BOC provided tech loan support to over 200,000 companies, including RMB 660 billion of loan support for 5,200 companies across the AI industrial chain. Its tech innovation ecosystem activities attracted 2,800 companies and 5,000 investment institutions, and the group-wide ecosystem had been established for 40 projects covering areas including quantum computing and AI.
MX:3988N Earnings History
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.
Beat
Missed