Industrial and Commercial Bank of China (1398) Q1 2025 earnings summary

Executive summary

• Net profit for Q1 2025 was RMB84,709 million, down 3.81% year-over-year; annualized ROA and ROE declined to 0.68% and 9.06%, respectively.

• Operating income fell 2.61% to RMB204,688 million; net interest income decreased 2.86% to RMB156,784 million; non-interest income dropped 1.76%.

• Total assets grew 5.58% to RMB51,547,045 million; total loans and advances increased 4.62% to RMB29,683,041 million.

• Shareholders' equity rose 1.84% to RMB4,060,826 million.

Financial highlights

• Net profit attributable to equity holders was RMB84,156 million, down 3.99% year-over-year.

• Basic and diluted EPS were both RMB0.23, a 4.17% decrease year-over-year.

• Net cash flows from operating activities dropped 31.07% to RMB942,479 million, mainly due to lower inflows from banks and financial institutions.

• Cost-to-income ratio was 22.90%; operating expenses (excluding taxes and surcharges) increased 2.37%.

• Impairment losses on assets decreased 4.89% to RMB57,136 million.

Outlook and guidance

• Liquidity coverage ratio for Q1 2025 was 121.09%, down 19.16 percentage points from the previous quarter, mainly due to higher projected net cash outflows.

• The bank continues to meet all regulatory capital and liquidity requirements.