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Compare China Construction Bank (CCB) with other Chinese banks using the same reporting period, accounting basis, and share class—not a single headline ratio. CCB’s latest results identified here cover the six months ended 30 June 2026: net profit rose 5.56% year over year, net interest margin was 1.37%, and its non-performing loan ratio was 1.29%. Those figures give you a starting point, not proof that CCB is a better investment than its peers.
Start with a like-for-like peer group
For a comparison of large Chinese banks, begin with Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, and Bank of China (BOC). China Merchants Bank can add a different listed-bank profile, but keep the distinction clear rather than treating every bank as directly interchangeable. Compare the same reporting period and accounting basis for each institution.
CCB’s 2026 interim results were announced on 28 August 2026 and cover the six months ended 30 June 2026. The company describes its income figures as being under IFRS. The available information confirms interim reporting for ICBC and BOC, but does not establish a comparable set of peer figures for earnings, asset quality, capital, valuation, or dividends. Do not infer a peer ranking from CCB’s figures alone.
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CCB reported first-half 2026 operating income of RMB 426.333 billion, up 10.48% year over year, and net profit of RMB 171.677 billion, up 5.56%. Total assets were RMB 47.33 trillion at 30 June 2026. These measures describe different things: assets and income show scale, while growth rates show change over the stated period.
#1 Best Overall
| Measure | CCB, six months ended 30 June 2026 |
|---|---|
| Operating income | RMB 426.333 billion; up 10.48% year over year |
| Net profit | RMB 171.677 billion; up 5.56% year over year |
| Total assets | RMB 47.33 trillion at 30 June 2026 |
| Net interest margin (NIM) | 1.37% |
| Non-performing loan (NPL) ratio | 1.29% |
| Allowance-to-NPL ratio | 238.69% |
| Annualized return on assets (ROA) | 0.74% |
| Weighted average return on equity (ROE) | 9.52% |
| Cost-to-income ratio | 22.17% |
| Total capital adequacy ratio | 19.42% |
| Common Equity Tier 1 (CET1) ratio | 14.24% |
Keep interim numbers separate from full-year figures. For 2025, CCB reported operating income of RMB 740.871 billion, up 1.69%, and net profit of RMB 339.790 billion, up 1.04%. At year-end, assets were RMB 45.63 trillion, NIM was 1.34%, the NPL ratio was 1.31%, the allowance-to-NPL ratio was 233.15%, ROA was 0.79%, ROE was 10.04%, the total capital ratio was 19.69%, and CET1 was 14.63%. A six-month result and a full-year result do not cover the same interval, so do not compare their growth rates as if they did.
CCB’s interim figures are reported in its 2026 half-year report; its annual figures are in the 2025 annual report.
Compare operating performance across the same period
Earnings, income mix, and margin
For each bank, line up operating-income growth and net-profit growth for the same period. Then examine NIM, fee income, and other non-interest income where the filings provide comparable measures. NIM helps show the spread between interest earned on assets and interest paid on funding, but it is only one part of earnings. Differences in business mix and accounting presentation can make a simple cross-bank comparison misleading.
Do not confuse scale with momentum. A bank with more assets or higher absolute profit is larger; that alone does not mean it is growing faster or generating a better return on capital.
Asset quality and provisions
Compare NPL ratios alongside overdue and special-mention loans, write-offs, and allowance or provision coverage where definitions align. CCB’s 1.29% NPL ratio and 238.69% allowance-to-NPL ratio are reported for its 2026 interim period; assess peers using the same period and check each bank’s notes on classification and timing. One asset-quality ratio cannot establish which bank has lower risk.
Capital and returns
Read CET1 and total capital ratios together with ROA and ROE. A higher ROE on its own does not establish better value or lower risk: leverage can affect the return to shareholders. Make sure capital measures use comparable definitions before drawing conclusions.
Rank #4
Efficiency and business mix
Compare cost-to-income ratios only after checking how each bank defines the measure. Also consider deposit and funding structure, lending mix, and contributions from fees or wealth-management activity when reported. These details help explain why two banks with similar headline margins may have different operating profiles.
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Compare valuation and dividends by share class
CCB has two listed share classes: Shanghai A shares, code 601939, and Hong Kong H shares, code 00939. Consolidated bank results describe the company’s operations; they do not value either share class. A valuation comparison therefore needs the relevant A- or H-share price, currency, and a common price date for every bank being compared.
Best Value
- Compare price-to-book and earnings multiples using prices from the same date and the same valuation method.
- State dividend per share and yield on a consistent basis, including the share class and price date used to calculate yield.
- Distinguish a high dividend yield from a strong total return. Yield can rise when a share price falls, and it does not by itself demonstrate that a dividend is safe.
- Account for currency and market access relevant to the investor; an A-share and an H-share are not interchangeable price observations.
Build a defensible comparison before choosing a stock
- Choose the peer set. Set out why each bank belongs in the comparison; use ICBC, Agricultural Bank of China, and BOC as a large-bank starting group, with China Merchants Bank as an optional broader comparison.
- Match reporting periods. Use interim results against interim results or full-year results against full-year results, and label the accounting basis and reporting date.
- Compare operating measures. Review growth, NIM, asset-quality indicators, loss buffers, capital, returns, and efficiency, checking definitions in each bank’s filings.
- Set a common valuation date. Collect share prices and dividend data for the same date, identify A or H shares where relevant, and keep currency explicit.
- Separate evidence from judgment. Explain what the measures show and what they do not establish; do not turn one ratio into a claim that a bank is the best investment.
For CCB, the relevant source figures are reported in the company’s investor-relations financial reports. A comparable ranking requires equivalent peer filings and same-date share-class valuation and dividend data; those peer comparisons are not established by CCB’s results alone.
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