Bank of Communications and Agricultural Bank of China released their 2026 interim results on Aug. 28, reporting first-half net profit growth of 4.04% and 4.9%, respectively. Bank of Communications posted profit attributable to shareholders of 47.87 billion yuan and operating income of 142.34 billion yuan, while ABC reported 146.38 billion yuan in net profit and 410.87 billion yuan in operating income. Bank of Communications' net interest margin rose 2 basis points year-on-year to 1.23%, ending a prolonged decline as time-deposit repricing reduced funding costs faster than loan yields fell. Its deposit cost rate dropped 36 basis points to 1.49%, while more than 60% of this year's time-deposit repricing was completed in the first half. The bank's interim dividend is 0.168 yuan per share, with a total payout of 14.84 billion yuan and a 31% payout ratio. Asset quality diverged, with the overall non-performing loan ratio rising to 1.30% as personal-loan and credit-card NPLs increased. ABC's margin remained under pressure but improved sequentially, supported by lower deposit costs, volume growth and strategic lending to county areas, manufacturing, technology, green projects and inclusive finance. Both banks continued to face risks from weak fee income, retail-loan deterioration and credit impairment costs.