ICBC Reports Q1 Results, with Revenue and Profits Accelerating Growth

ICBC started 2026 on a strong note.

On April 29, ICBC disclosed its 2026 first-quarter report: during the first quarter, ICBC achieved operating revenue of RMB 230.37 billion, a year-on-year increase of 8.27%; net profit attributable to shareholders of the parent company was RMB 86.941 billion, a year-on-year increase of 3.31%. Overall operational performance and growth rates reached highs not seen in recent years.

Meanwhile, at the end of the quarter, ICBC's total assets steadily expanded to RMB 55.77 trillion, an increase of 4.29% from the end of the previous year. Against the backdrop of an annualized net interest margin of 1.29%, ICBC's Non-Interest Income achieved double-digit growth of 10.45%.

Revenue Growth Exceeds 8%

Financial report data shows that from January to March 2026, ICBC achieved operating revenue of RMB 230.37 billion, an increase of 8.27% compared to the same period last year; net profit attributable to shareholders of the parent company was RMB 86.941 billion, a year-on-year increase of 3.31%.

This is a first-quarter report featuring simultaneous growth in both revenue and net profit, a sight unseen for several years, demonstrating robust year-on-year growth levels.

Net Interest Margin Stabilizes and Rebounds

From the perspective of revenue structure, ICBC's two main revenue "drivers" in the first quarter—Net Interest Income and Non-Interest Income—both achieved positive growth.

Specifically, Net Interest Income during the period reached RMB 168.531 billion, a year-on-year increase of 7.49%; the annualized net interest yield for the first quarter was 1.29%, showing favorable signs of stabilization and rebound compared to 1.28% for the full year last year.

During the same period, ICBC's Non-Interest Income amounted to RMB 61.839 billion, achieving double-digit growth of 10.45% year-on-year. Among this, net fee and commission income was RMB 40.916 billion, a year-on-year increase of 5.24%.

Core Deposit and Loan Base Remains Solid

On the asset side, as of the end of March 2026, ICBC's total customer loans and advances and customer deposits reached RMB 31.65 trillion and RMB 38.59 trillion respectively, both achieving growth of over 3%. The core deposit and loan base remains solid.

Structurally, ICBC's corporate loans reached RMB 19.99 trillion; the balance of personal loans was RMB 9.06 trillion; and bill discounting amounted to RMB 2.60 trillion.

During the same period, ICBC's investment scale also expanded synchronously, reaching RMB 17.87 trillion, an increase of 5.72% from the end of the previous year.

On the liability side, total liabilities reached RMB 51.42 trillion, an increase of 4.49% from the end of the previous year. Within customer deposits, time deposits amounted to RMB 23.36 trillion, and demand deposits were RMB 14.59 trillion.

Operating Cash Flow Surges by Over 50%

In terms of cash flow, the net cash flow from operating activities generated by ICBC in the first quarter was nearly RMB 1.42 trillion, a substantial increase of 50.27% compared to the same period last year.

ICBC stated that the primary reason for the change was an increase in cash inflows driven by the net increase in deposits from peers and other financial institutions, as well as net proceeds from securities sold under repurchase agreements.

Regarding capital adequacy ratios, the core tier 1 capital adequacy ratio was 13.26%, the tier 1 capital adequacy ratio was 14.56%, and the capital adequacy ratio was 18.21%, all meeting regulatory requirements.

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