All six of China’s big state-owned banks have released their annual reports for 2019 following disclosure by Agricultural Bank of China’s (ABC) on 30 March.
China’s big six state-owned banks (including ABC, Bank of China (BOC), Bank of Communications (BOCOM), China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC) and Postal Savings Bank of China (PSBC)) posted combined net profits of 1.136496 trillion yuan in 2019, for a daily average profit of 3.1137 billion yuan.
ICBC remains China, and the world’s, largest bank in terms of assets, followed by CCB, ABC and BOC.
China’s Big Six Banks Ranked in Terms of Total Assets in 2019
|Rank||Bank||Total Assets in 2019|
|1||ICBC||30.109436 trillion yuan|
|2||CCB||25.436261 trillion yuan|
|3||ABC||24.878288 trillion yuan|
|4||BOC||22.769744 trillion yuan|
|5||PSBC||10.13058 trillion yuan|
|6||BOCOM||9.9056 trillion yuan|
PSBC had the lowest non-performing loan (NPL) ratio in 2019, while BOCOM had the highest. All six of the big six posted declining or unchanged NPL ratios last year.
NPL Ratios of China’s Big Six Banks in 2019
|Bank||NPL Ratio in 2019|
ICBC was the most profitable big Chinese bank, while PSBC saw the most rapid growth in profits.
Revenue and Profits of China’s Big Six State-owned Banks in 2019
|Bank||2019 Operating Revenues||Growth||2019 Net Profits||Growth|
|ICBC||855.164 billion yuan||10.5%||312.224 billion yuan||4.9%|
|CCB||705.629 billion yuan||7.09%||266.733 billion yuan||4.74%|
|ABC||627.268 billion yuan||4.8%||212.0983 billion yuan||4.6%|
|BOC||549.182 billion yuan||8.94%||187.405 billion yuan||4.06%|
|BOCOM||232.472 billino yuan||9.32%||77.281 billion yuan||4.96%|
|PSBC||276.809 billion yuan||6.06%||60.933 billino yuan||16.48%|
ICBC led the big six banks in terms of net profits from wealth management products (WMP) of its subsidiaries.
Net Profits from WMP’s of China’s Big Six Banks in 2019
|Bank||Net WMP Profits in 2019|
|ICBC||330 million yuan|
|CCB||60 million yuan|
|ABC||296 million yuan|
|BOCOM||89.1154 million yuan|