China’s Mega Banks Post Scant Profit Gains on Margin Squeeze

China’s leading state-owned lenders reported anemic annual results for 2025, as a state-mandated push to support a flagging economy continued to erode industry profitability.

Agricultural Bank of China Ltd. said Monday in a stock exchange filing that net income rose 3.2% to 291 billion yuan ($42.1 billion) last year, while Bank of China Ltd. posted a more modest 2.2% increase. These figures align with Friday’s disclosures from peers Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp., both of which saw similar constraints.