China Construction Bank (939) Q4 2025 earnings summary

Executive summary

• 2025 marked the final year of the 14th Five-Year Plan and the 20th anniversary of the IPO, with steady growth in all core indicators and a focus on high-quality development.

• Total assets surpassed RMB 54 trillion, net profit reached RMB 339 billion (up 1.04%), and operating income grew by 1.69% year-over-year.

• Strategic focus on the Five Priorities: technology, green, inclusive, pension, and digital finance, with significant loan growth in these sectors.

• Enhanced risk management, digital transformation, and AI adoption across business lines.

Financial highlights

• Net profit increased by 1.04% to RMB 339 billion; operating income up 1.69% year-over-year.

• Total assets rose 12% to RMB 45.36 trillion; gross loans up 7.47% to RMB 27.77 trillion.

• Dividend payout totaled RMB 106 billion, with interim and final dividends declared.

• Non-interest income ratio rose to 22.69%, a 3.65% year-over-year increase.

• Wealth management products grew over 25%, and assets under custody exceeded RMB 27 trillion.

Outlook and guidance

• 2026 will focus on supporting national strategies, expanding financial services for infrastructure, and maintaining steady loan growth.

• Continued emphasis on risk control, digital transformation, and customer-centric service models.

• NIM decline expected to slow, with proactive liability and asset management to maintain competitiveness.