CITIC Bank released its semi-annual report: net interest margin stabilized at 1.62%, and net profit attributable to shareholders increased by 3.08% year-on-year.

CITIC Bank, a major player among joint-stock banks, recently released its 2026 semi-annual report.

According to CITIC Bank's semi-annual report, in the first half of 2026, the bank achieved operating revenue of RMB 109.408 billion, a year-on-year increase of 3.05%; net profit attributable to shareholders of the bank was RMB 37.602 billion, a year-on-year increase of 3.08%, showing stable performance.

In terms of technology, the bank fully implemented its "Artificial Intelligence+" initiative during the period, deploying over 1,900 AI service scenarios, with multiple AI applications entering the online operational phase. Furthermore, the bank's board of directors approved a 2026 interim profit distribution plan of RMB 2.03 per 10 shares (inclusive of tax). Based on the closing price on August 26, CITIC Bank's dividend yield for the first half of the year was close to 2.5%.

Net interest income: up 2.74% year-on-year.

Net interest income is the "foundation" of joint-stock banks. During the reporting period, CITIC Bank achieved net interest income of RMB 73.149 billion, a year-on-year increase of 2.74%. In terms of proportion, net interest income accounted for 66.86% of CITIC Bank's total operating income. The steady growth in net interest income laid the foundation for the bank's performance ranking in the first half of the year.

In addition, CITIC Bank's net interest margin in the first half of the year was 1.62%, basically the same as the same period last year; its net interest spread was 1.60%, also completely flat year-on-year, showing a stabilizing trend in net interest margin.

According to its interim report, facing the challenge of continued pressure on the industry's net interest margin, CITIC Bank adhered to a balanced management strategy of volume and price during the period, and achieved significant results in improving the cost of liabilities. The yield on interest-earning assets was 2.97% and the cost of interest-bearing liabilities was 1.37%, both of which declined simultaneously, ultimately stabilizing the net interest margin.

Non-interest net income exceeded 36.2 billion yuan

In terms of non-interest net income, CITIC Bank achieved non-interest net income of RMB 36.259 billion during the reporting period, an increase of 3.69% year-on-year. The latter accounted for 33.14% of operating income, an increase of 0.20 percentage points year-on-year.

Of this, net fee and commission income was RMB17.23 billion, up 2.41% year-on-year; agency business fees increased by 31.66% year-on-year, contributing significantly to the company's revenue performance.

Regarding asset quality, as of the end of the reporting period, CITIC Bank's non-performing loan balance was RMB 68.946 billion, with a non-performing loan ratio of 1.15%, unchanged from the end of the previous year; the provision coverage ratio was 203.12%. In terms of capital adequacy, the company's capital adequacy ratio was 12.81%, its Tier 1 capital adequacy ratio was 10.98%, and its core Tier 1 capital adequacy ratio was 9.37%.

More than 1,900 AI technology service scenarios

In terms of scale, as of the end of the reporting period, the company's total assets amounted to RMB 10.38 trillion, an increase of 2.50% compared to the end of the previous year; total loans and advances amounted to RMB 6.01 trillion, an increase of 2.50% compared to the end of the previous year; and total customer deposits amounted to RMB 6.28 trillion, an increase of 3.81% compared to the end of the previous year, maintaining steady growth overall.

In terms of technology and AI, during the reporting period, the bank adopted a core strategy of "scenario-driven + AI-empowered" to fully implement the "Artificial Intelligence+" initiative, deploying AI services in over 1,900 scenarios. It privately deployed mainstream large-scale models such as DeepSeek V4 and GLM5, achieving a daytime computing power utilization rate exceeding 85%. The retail "Five Spirits" AI project group progressed smoothly, with AI applications in 14 core scenarios entering the online operation phase. The quantitative strategy intelligent agent added and optimized 10 trading strategies, improving strategy development efficiency by 3 times. As of the end of the reporting period, the bank's outstanding loans to core digital economy industries reached RMB 285.162 billion, an increase of 15.55% compared to the end of the previous year.

Institutions increased their holdings overall.

In addition, the interim report shows that among the top ten shareholders of CITIC Bank, there were both institutional investors entering and leaving, but overall, they increased their holdings.

Among them, the Shanghai account of China Life Insurance Company Limited – Traditional – Ordinary Insurance Products – 005L – CT001 increased its holdings by more than 338 million shares during the reporting period.

In addition, Huatai-PineBridge Dividend Low Volatility ETF increased its holdings by more than 19 million shares. Meanwhile, Central Huijin's holdings remained unchanged, while China Securities Finance Corporation reduced its holdings.

Overall, institutional investors hold a positive view on their holdings in CITIC Bank.

Risk warning and disclaimerInvesting involves risk; please exercise caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Any investment decisions made based on this information are at your own risk.