The annual performance reports of China’s big six state-owned banks indicate that in 2021 they posted their strongest growth levels of profit growth in a decade.
2021 marked the first year that all six of China’s big state-owned banks saw double-digit year-on-year
(YoY) growth in net profits since 2012.
Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) saw net profits of more than 300 billion yuan, with ICBC’s profits of 348.338 billion yuan marking YoY growth of 10.27%.
Bank of China (BOC) and Agricultural Bank of China (ABC) posted net profits of more than 200 billion yuan, for YoY growth of 12.28% and 11.70% respectively.
Postal Savings Bank of China (PSBC) saw the strongest profit growth out of the big six state-owned banks, with an 18.65% surge in net profits.
The big six state-owned banks saw combined net profits of 1.27 trillion yuan in 2021, for daily earnings of over 3.48 billion yuan.