On August 28th, Postal Savings Bank of China Limited (stock code: 601658. SH, 1658. HK) released its 2026 interim report.

Stable business performance maintains a steady and positive development momentum

Postal Savings Bank of China achieved a good start to its business development in the first half of the year, accelerating the construction of a revenue driven dual wheel pattern. By adhering to the combination of stable growth, structural adjustment, cost reduction, and risk control, strengthening core capacity building, it maintained a steady and positive development momentum.

In the first half of the year, Postal Savings Bank of China adhered to the principle of serving the real economy and continuously optimized its asset liability structure. As of the end of June 2026, the total assets amounted to 19.82 trillion yuan, an increase of 6.07% compared to the end of the previous year. Among them, the total amount of customer loans was 10.27 trillion yuan, an increase of 6.41% compared to the end of the previous year; The total liabilities amounted to 18.62 trillion yuan, an increase of 6.26% from the end of the previous year, of which customer deposits amounted to 17.44 trillion yuan, an increase of 5.42% from the end of the previous year; Deposit and loan increased by 0.54 percentage points compared to the end of last year; The operating revenue was 192.482 billion yuan, a year-on-year increase of 7.26%, and the net profit was 51.671 billion yuan, a year-on-year increase of 4.57%; The proportion of non interest income to operating income increased by 1.04 percentage points. In The Banker magazine's 2026 "Top 1000 Global Banks" ranking, Postal Savings Bank of China entered the top ten for the first time in terms of Tier 1 capital, increasing its ranking by 2 places. The rating results of the three major international rating agencies continue to maintain the leading level of domestic commercial banks.

In terms of credit allocation, Postal Savings Bank of China actively adapted to the needs of economic transformation, increased its focus on key areas such as financial "five major articles" and county areas, and increased the total amount of customer loans by 618.633 billion yuan in the first half of the year, an increase of 6.41% from the end of the previous year. On the debt side, Postal Savings Bank of China adheres to the dual wheel drive of "deposit quality improvement" and "wealth increment", continuously cultivating value deposits. In the first half of the year, customer deposits increased by 896.971 billion yuan, an increase of 5.42% from the end of the previous year. Under the refined management of assets and liabilities, the net interest rate of return was 1.63%, maintaining an excellent level in the industry. The net interest income increased by 5.82% year-on-year, achieving stable growth.In the first quarter of this year, Postal Savings Bank of China took the initiative to adjust the savings agency fee rate again, promoting the long-term healthy development of the "self operated+agency" model. The cost to income ratio in the first half of the year was 52.02%, a year-on-year decrease of 2.68 percentage points.

On the basis of achieving both quantity and quality improvement in assets and liabilities, Postal Savings Bank of China has always adhered to a prudent and prudent risk preference, continuously deepened the construction of a "comprehensive, full process, full-time, and all domain" risk management system, and maintained a stable and controllable risk situation, laying a solid safety net barrier for the smooth and orderly operation of its business. Empowering risk prevention and control with digitalization, and supporting business development, 11186 customers were approved for "Looking to the Future" in the first half of the year, with a total approved amount of 2.66 trillion yuan, a year-on-year increase of 10.61%.

Postal Savings Bank of China always insists on sharing the fruits of development with investors. Recently, Postal Savings Bank of China released an action plan for improving quality, efficiency, and returns in 2026, which efficiently completed the distribution of dividends in 2025. With the addition of mid-term dividends in 2025, the total amount of dividends distributed in 2025 will reach RMB 26.217 billion (including tax). In mid-2026, Postal Savings Bank of China plans to further increase the dividend ratio to 31%, effectively increase the dividend intensity, enhance investors' sense of gain, and continue to create long-term value for shareholders based on stable performance growth.

Deepen the integration and development of the "five major articles" in finance, continuously consolidate differentiated competitive advantages

Postal Savings Bank of China continues to improve its financial "five major articles" service system, deeply promotes the integrated development of financial "five major articles", and continuously consolidates its differentiated competitive advantages in serving the real economy.

Optimize inclusive finance. Postal Savings Bank of China closely adheres to the regulatory requirements of "stable investment, optimized structure, improved quality, and sustainability", deeply cultivates key areas such as rural revitalization and small and micro enterprises, and promotes the improvement and efficiency of inclusive financial services. Accelerate product innovation and process reengineering, optimize and upgrade the "U-Benefit" inclusive financial product service system, expand scenario based comprehensive financial services, and provide digital transformation support for over 200000 small and medium-sized enterprises on the "Easy Enterprise Operation" platform. The balance of agricultural loans is 2.66 trillion yuan, and the balance of loans for inclusive small and micro enterprises is 1.91 trillion yuan, both of which rank among the top in the proportion of total customer loans among state-owned banks.

Make precision technology finance. Postal Savings Bank of China efficiently serves new quality productivity, increases research efforts on strategic emerging industries, innovatively applies the "look to the future" risk control concept, enriches the product service matrix throughout the life cycle, and focuses on supporting the development and growth of technology enterprises. Technology loans increased by over 16% compared to the end of last year, higher than the growth rate of various loans.

Specializing in green finance. Postal Savings Bank of China has steadily promoted the improvement and efficiency of green finance from multiple dimensions such as governance structure, incentive constraints, product and service innovation, and capacity building. It has established 56 green finance characteristic institutions, including green finance departments, carbon neutral branches, green branches, and blue branches; The balance of green loans increased by 14.37% year-on-year, with a growth rate higher than the average growth rate of various loans. The first issuance of carbon neutral themed green financial bonds worth 5 billion yuan, and MSCI's ESG rating has risen to AAA level.

Make warm retirement finance. Postal Savings Bank of China is solidly promoting the "523" comprehensive marketing service system (five key areas, two strategies, and three marketing service models), improving various support and guarantee measures, and continuously making efforts to support the expansion of elderly care service supply. Continuously enriching the product matrix to meet customers' personalized and diversified investment needs for elderly care. The scale of pension finance has exceeded 3.8 trillion yuan, and loans for the elderly care industry have maintained high-speed growth.

Strengthen digital finance. Postal Savings Bank of China drives the deep development of digital transformation with digital technology and data elements, continuously improving the quality and efficiency of digital financial services. More than 37 million personal wallets have been opened through the digital RMB app, maintaining the largest scale in the industry; Self service devices use digital humans to assist in manual business audits, resulting in a 40.00% increase in manual work efficiency; The "Youzhi" financial industry model has been released, with over 370 application scenarios implemented and daily interaction tokens exceeding billions.

The effectiveness of vigorously developing the non interest "second growth curve" and "five major actions" is highlighted

Since the beginning of this year, Postal Savings Bank of China has focused on the "five growth points" of wealth management, payment settlement, investment banking, trading banking, and financial markets, and has turned non interest income into a transformational growth engine. The net income from fees and commissions, as well as other non interest income, have increased by 12.20% and 12.28% respectively.

Among them, Wealth Management continues to build a product shelf with rich strategies and excellent choices. The number of personal wealth management customers has increased by 23.57% compared to the end of last year, managing personal customer assets (AUM) of 1.918 trillion yuan, and the number of Fujia and above customers has reached 7.4762 million, an increase of 10.59% compared to the end of last year; Payment settlement operates around consumer demand, achieving an electronic payment transaction scale of 3.55 trillion yuan; Investment banks focus on the transformation of corporate finance into "two lows and two highs", achieving positive results in value investment banking operations. Fee and commission income increased by 16.41% year-on-year, and the scale of various bond underwriting and distribution increased by 24.70% year-on-year; Trading banks tap deep into potential, with a year-on-year increase of 316 in the trading scale of corporate foreign exchange derivativesBased on the unique advantages of interbank finance, the financial market generated non interest income from bill trading of 1.697 billion yuan, a year-on-year increase of 35.98%. The scale of custody exceeded 6.5 trillion yuan, and the income from handling fees and commissions increased by over 10% year-on-year.

The strong growth of non interest income is attributed to the concentrated efforts and innovative reforms of the "Five Major Actions" in key areas. Since the beginning of this year, Postal Savings Bank of China has concentrated its efforts on tackling the "five major actions", using innovation and transformation to increase vitality and strengthen momentum.Service Strong County and Rich Town ActionWe will make precise efforts, strengthen resource allocation, deeply cultivate key industries, and promote the year-on-year increase in revenue contribution of strong county branches in the county.Urban Business CampaignWe will make every effort to promote the "one bank, one policy" policy based on regional characteristics, and achieve year-on-year growth in the deposit and loan business of key cities.The "Network Efficiency Leap Action"Continuously deepen, accelerate the comprehensive, ecological, and intelligent transformation of branches, constantly stimulate the vitality of branches, and improve their efficiency.Company Business Enhancement ActionImproving quality and expanding coverage, consolidating the chain ecology to expand customers, achieving a dual increase in customer quantity and quality, the total amount of customer financing (FPA) of the company reached 7.94 trillion yuan, an increase of 1.15 trillion yuan from the end of last year, or 16.99%.Comprehensive Breakthrough Action for Mobile BankingContinuously promote the development of mobile banking into the preferred ecological platform that meets customers' "financial+non-financial" needs.

In the first half of the year of the 15th Five Year Plan, Postal Savings Bank of China will closely focus on the major decisions and deployments of the Party Central Committee, consolidate and expand the learning and education achievements of establishing and practicing the correct political performance concept, anchor high-quality development, deepen and implement the "five major articles" of finance, accelerate the transformation of development mode, increase vitality through reform and transformation, and accelerate the construction of a first-class large retail bank that is "more inclusive, more balanced, more stable, more intelligent, and more dynamic". With a more vigorous and upward spirit, it will continuously create new achievements of high-quality development, and strive to write a new chapter of high-quality development in the 15th Five Year Plan.