Industrial Bank's revenue and net profit both increase, total assets surpass 11 trillion yuan | Live coverage of the earnings conference

On March 27, Industrial Bank held its 2025 performance briefing session on the Shanghai Stock Exchange. In 2025, Industrial Bank anchored itself to its value bank-building goals, continuously enhanced its “five key capabilities” in serving the construction of Chinese-style modernization, proactively laid out industrial finance ahead of time, and solidly carried out the financial “Five Articles,” delivering a highly substantial answer.

(Li Ruohan / Photo)

Revenue and net profit both increased; asset quality remained stable and improved steadily

Over the past year, Industrial Bank’s operating income and net profit attributable to shareholders both recorded positive growth. The annual report shows that, as of the end of 2025, Industrial Bank Group’s total assets reached RMB 11.09 trillion, up 5.58% from the end of the previous year; operating income was RMB 212.741 billion, up 0.24% year over year; and net profit attributable to shareholders was RMB 77.469 billion, up 0.34% year over year, achieving double-digit growth for two consecutive years.

Facing industry challenges such as margin compression, in 2025 Industrial Bank took a dual approach of “stabilizing net interest margins while expanding non-interest income.” On the one hand, it made controlling the cost of liabilities a top priority for stabilizing net interest margins, while continuously optimizing its asset structure. In 2025, Industrial Bank’s net interest margin was 1.71%, down 11 basis points year over year. The rate of decline was relatively better than peers, and net interest income reached RMB 148.752 billion, up 0.44% year over year, maintaining positive growth for three consecutive years.

On the other hand, it actively seized opportunities arising from increased activity in the capital market. Its intermediary business showed a favorable turning point. It strengthened coordinated and integrated engagement across the group’s “big investment banking, big asset management, and big wealth management.” Last year, it realized net fee and commission income of RMB 25.891 billion, up 7.45% year over year, laying a foundation for a recovery.

As for asset quality, with comprehensive risk management increasingly implemented in a practical way, risks in key areas continued to converge. At the end of 2025, the non-performing loan ratio was 1.08%, basically flat with the end of the prior year. The allowance coverage ratio was 228.41%, achieving balanced development in scale, efficiency, and quality and staying within a reasonable range. In addition, new non-performing occurrences for real estate, local government financing platforms, and credit cards all declined year over year. The non-performing loan ratio for retail loans was 0.88%, maintaining a relatively strong level in the industry; for the group, loans written off and cases collected amounted to RMB 16.212 billion, up 12.03% year over year.

In terms of asset structure, in 2025 Industrial Bank accelerated structural transformation, continuously optimizing the balance between assets and liabilities through dynamic equilibrium. On the asset side, it deepened “regional + industry” operations. Green loans, technology loans, and medium- to long-term loans for manufacturing increased 19.05%, 18.47%, and 14.91% respectively from the end of the previous year, all higher than the overall loan growth rate. Loans to key national regional industries (top 10 industries by regional industrial operating revenue) increased 20.1% from the end of the previous year. On the liability side, it made solid progress in operating the corporate financial settlement main account, deeply advanced the “Weaving Network Project 3.0,” and deepened the development of a retail system. This drove growth in settlement deposits. The deposit interest cost ratio was 1.65%, down 33 basis points year over year.

Boosting “Smart Industrial Bank”　Shining up the “four cards”

“We will adhere to digital-intelligence, greening, internationalization, comprehensiveness, and ecosystem-building as our guiding principles. Focusing on building a modern industrial system, we will go deep into industrial finance and continuously shine up the four cards of technology finance, green finance, wealth banking, and investment banking, fully building a first-class value bank.” Industrial Bank Chairman Lü Jiajin said at the meeting.

In 2025, Industrial Bank continued to enhance the three cards of a green bank, a wealth bank, and an investment bank. Among them, the financing balance for green finance was RMB 2.46 trillion, and the balance of green loans was RMB 1.11 trillion, increasing 12.37% and 19.05% respectively from the end of the previous year. The balances remained No. 1 among joint-stock commercial banks. The combined asset management scale of the group’s five asset management subsidiaries totaled RMB 3.65 trillion, up 26.07% from the end of the previous year. The FPA scale of big investment banking reached RMB 4.89 trillion, up RMB 367.6 billion from the end of the previous year.

At the same time, Industrial Bank continued to raise its technology finance strategy to a higher level. It was the first among joint-stock banks to be approved to establish and begin operations of a financial asset investment company (AIC), driving technology finance to become the “fourth card.” At the end of 2025, the financing balance for technology finance was RMB 2 trillion, and the balance of technology finance loans was RMB 1.12 trillion, increasing 15.98% and 18.47% respectively from the end of the previous year.

Industrial Bank Vice President Zeng Xiaoyang said that the establishment of AIC is not only an addition of a license, but also a key variable for high-quality development of technology finance. Industrial Bank will grow alongside technology enterprises, and work hard to make technology finance the fourth card.

Entering the era of artificial intelligence, Industrial Bank has comprehensively implemented the “Artificial Intelligence +” initiative. It has launched two campaigns—“agility” and “experience”—in depth, accelerating the shift from “Digital Industrial Bank” to “Smart Industrial Bank.” It has already gone live with more than 200 intelligent agents. Artificial intelligence technology empowers more than 260 application scenarios, achieving a 33% reduction in the average delivery cycle of IT projects, optimizing more than 1,500 business processes, and maintaining solid year-on-year growth in the core indicators of its mobile banking and its five major online platforms.

Fully building a first-class value bank

Looking back at the “14th Five-Year Plan” period, major changes over the past century have accelerated and new and old drivers of growth have been transitioning faster. Facing multiple tests including “low interest rates, narrow interest margins, and high risks,” Industrial Bank has anchored to the goal of building a financial power, firmly charting a path of financial development with Chinese characteristics, and—through strenuous efforts and forging ahead—has drawn a development curve trending steadily upward.

From the perspective of asset scale, total assets continued to cross four RMB 1-trillion thresholds in succession, breaking through the RMB 11-trillion mark, and remained No. 2 among joint-stock commercial banks. Loan and deposit balances both increased by nearly RMB 2 trillion. Loans have shifted focus toward industries: manufacturing loans, green finance loans, and technology finance loans grew by more than 1x, 2x, and 3x, respectively. Market value improved steadily; the cash dividend payout ratio exceeded 30%, and the total dividend over five years reached RMB 106.9 billion, returning to investors with outstanding performance. From the perspective of asset quality, the non-performing loan ratio fell from 1.25% to 1.08%, and the allowance coverage ratio rose from 218.83% to 228.41%. Overall, asset quality remained stable and continued to stay above the industry average.

With the start of the “15th Five-Year Plan” journey, standing at a new starting point, Industrial Bank will fully build a first-class value bank as its strategic goal. It has clarified its strategic direction, strategic priorities, and strategic characteristics. It will adhere to a “five-oriented” strategic direction led by digital-intelligence, greening, internationalization, comprehensiveness, and ecosystem-building. It will treat industrial finance as its strategic focus and tightly plan and arrange for the development of industrial intelligentization, greening, and integration. It will strengthen integrated financial services along the innovation chain, supply chain, equity chain, capital chain, and talent chain, driving the bank’s transformation and development to achieve new breakthroughs. It will treat the “four cards” as strategic features and further shine up the four cards of technology finance, green finance, wealth banking, and investment banking, providing strong support for doing well the financial “Five Articles.”

Industrial Bank said it will spare no effort to promote the strategic rollout. While creating value for customers, it will create more value for itself and its shareholders. It will continue to push coordinated growth in scale, quality, and efficiency, and strive for an organic unity of economic, social, and environmental benefits.

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