Steady Progress and Quality: The Bank of China's High-Quality Development Strategy for 2025

In 2025, the banking industry faces a complex environment characterized by narrowing interest margins, intensifying competition, and structural changes in the demand for real-economy financing. On March 30, 2026, Bank of China released its 2025 annual report, highlighting its operational performance of “greater confidence, stronger capability, and better resilience,” demonstrating the strategic resolve of a century-old bank amid a period of transformation.

Through the financial report data and business layout, it is clearly evident that this century-old bank is embedding its development depth into the national strategic blueprint. Leveraging its unique endowments of “globalization + integrated operations,” it has built hard-to-replicate competitive advantages in key areas such as technology finance, green transformation, advanced manufacturing, and corporate going global.

**　　Strengthen the foundation and move forward with innovation, with both quality and efficiency prioritized**

**　　Steady: Build a risk-control foundation amid growth**

In 2025, Bank of China maintained steady growth resilience in a complex environment. According to the financial report data, the Group achieved full-year operating income of RMB 659.9 billion, up 4.28%; attributable net profit of RMB 243.0 billion, up 2.18%. Total assets exceeded RMB 38 trillion, up 9.40% from the end of the previous year; total liabilities exceeded RMB 35 trillion, up 9.47% from the end of the previous year. Net interest margin was 1.26%; return on average total assets (ROA) was 0.70%; return on equity (ROE) was 8.94%; cost-to-income ratio (mainland China regulatory basis) was 27.84%. Financial performance advanced steadily, while input-output efficiency continued to improve.

While scaling up, the customer base has continued to be strengthened. Domestic RMB loans新增1.81 trillion, with an increase of about 9.9%; full-scope corporate customers grew by 13.88%. The total number of individual customers exceeded 550 million. The growth rate of individual mid-to-high-end customers was over 12%. The continued strengthening of the customer base shows that Bank of China’s growth is built on optimizing customer segments and effectively tapping demand. The stability and sustainability of growth have kept improving, making the operating foundation more solid.

Meanwhile, the comprehensive risk management system has continued to be upgraded. Asset quality has remained stable. The non-performing loan ratio was 1.23%, down 0.02 percentage points from the end of the previous year. The provision coverage ratio was 200.37%; capital adequacy ratio was 18.85%; and risk coverage remains sufficient. Bank of China has deeply integrated ESG risks into credit approval and management throughout the life cycle of exposures, achieving end-to-end risk control coverage from entry to exit.

**　　“Steadiness” in scale and “steadiness” in risk create dual protection.** Against the backdrop of industry-wide pressure on asset quality, Bank of China’s steady risk-control foundation has left ample safety margins for its subsequent expansion, and also reflects the business resolve of “develop while staying safe.”

Progress: Credit structure leaps toward the “new”

**　　From the perspective of national strategic orientation, science and technology, green initiatives, and manufacturing are the core keywords in the outline of the “Fifteenth Five-Year Plan” [for 2026–2030].** When applied to bank operations, the direction of credit deployment determines future asset quality and growth potential.

Bank of China has seized this round of structural opportunities, precisely channeling credit resources into the most dynamic areas.

Behind the data lies a profound shift in the logic of operations—money is flowing toward the direction that represents the future.

As of the end of 2025, Bank of China’s technology loan balance was RMB 4.82 trillion, accounting for more than one-third of corporate loans; green loans totaled RMB 4.96 trillion, with the share exceeding 20%; loans to the manufacturing sector were over RMB 3 trillion; and loans to strategic emerging industries were over RMB 3.2 trillion, with growth rates all far above the industry average level. The credit structure’s “tech content” and “green content” have been significantly improved.

As credit structure leaped toward the “new,” the coverage and quality of inclusive finance also improved in parallel. The outstanding balance of inclusive loans to small and micro enterprises exceeded RMB 2.77 trillion, up 21.52% from the end of the previous year; Bank of China provided over RMB 820 billion in loans to more than 57.7 thousand national- and provincial-level “specialized, innovative and distinctive” (specialized and new) SMEs, with its credit balance and coverage ratio leading peers. Financial resources are being precisely directed downward to small and micro entities with greater innovative vitality.

Behind this “progress” is strong support from its digital intelligence capabilities. In 2025, Bank of China completed the largest system go-live in its history, building more than 400 intelligent assistants. Enterprise-level robotic process automation (RPA) covered over 3,600 scenarios, enabling credit resources to flow more precisely to truly high-potential areas.

Improving the precision of credit identification and response efficiency through digital intelligence means is an important support for Bank of China to achieve the “leap toward innovation.”

**　　Quality: Comprehensive improvement in operating quality**

Beyond the “quantity” of growth, what deserves even more attention is the “quality” leap.

Customer structure has continued to be optimized. The share of individual mid-to-high-end customers within effective customers increased by 0.28 percentage points; cross-border RMB settlement volume was RMB 1.77 trillion, and international settlement volume exceeded USD 445 billion, maintaining the top position among peers; the balance of equipment upgrade loans exceeded RMB 150 billion. During the year, Bank of China applied consumption loan interest subsidies for 530 thousand customers; the balance of domestic personal consumption loans grew by 28.35%.

In terms of returns to shareholders, Bank of China completed dividends for its 2024 final period and 2025 interim period during 2025, with total dividends of RMB 0.2310 per share. For four consecutive years, it has delivered double-digit stock investment returns to shareholders. In fact, over nearly 20 years since listing, Bank of China’s total assets have grown by 6.2 times; cumulative dividends have exceeded RMB 970 billion, bringing substantial returns to the state and a wide range of shareholders, and also demonstrating its sustained value-creation capability.

**　　The balance between scale and quality, and between speed and efficiency, is the underlying tone of Bank of China’s operating resilience.**

Technology supports, green leads, global escort

**　　Technology finance: “End-to-end Cultivation Program” leads paradigm innovation**

A strong technology nation—what does finance do for it? High-tech enterprises have long growth cycles, high risks, and complex capital needs. Traditional credit models often “cannot understand” and “dare not invest.” Bank of China’s approach is to break out of single credit thinking and embrace a long-termist philosophy of “invest early, invest small, and invest in hard technology,” accompanying enterprises throughout the entire process from R&D breakthroughs to industrialization.

Bank of China’s pioneering “End-to-end Cultivation Program” can be considered a paradigm innovation in technology finance. By allocating equity and special funds totaling RMB 60 billion for equity, loan, and special-purpose funding, it provides full-cycle, relay-style support for key core-technology enterprises—from R&D breakthroughs to listing.

Bank of China provides RMB 4.82 trillion in technology loan support to 171.8 thousand technology enterprises, with integrated services accumulating more than RMB 890 billion. It set up a science and technology innovation mother fund of RMB 16.7 billion and an AIC equity investment fund of RMB 23.4 billion, truly enabling a role shift from “provider of funds” to “co-builder of an ecosystem.”

**　　This model operates efficiently thanks to support from its digital intelligence foundation.** From data governance that “packages and stores data in the right places” to deep empowerment by AI large models; from a digital marketing command center to RPA automation scenarios—digital intelligence is evolving from an “auxiliary tool” into a “core engine,” making refined management possible and ensuring that scaling up and improving quality no longer conflict.

In the field of artificial intelligence, Bank of China was among the first to issue the 《Action Plan for Supporting the Development of the Artificial Intelligence Industrial Chain》, establishing cooperation with 4,460 core enterprises in the industrial chain. It had a credit balance of RMB 545.6 billion, providing integrated financial services of RMB 123.5 billion for the industrial chain.

**　　Green finance: A two-in-one champion at home and abroad**

In the five years since the “dual carbon” goals were proposed, green finance has moved from being a “multiple-choice question” to a “required question.”

In this wave of green transformation, the role of financial institutions is not only to provide funding, but also to set standards and lead rules. Bank of China’s path choice is to do both scale and standards, exerting efforts simultaneously in domestic and overseas markets.

Bank of China’s outstanding balance of green loans is close to RMB 5 trillion, and the underwriting scale of green bond issuances domestically and overseas has remained the No. 1 position among Chinese-funded peers in the market.

In 2025, Bank of China helped CATL issue RMB 5.0 billion in green sci-tech bonds, setting a record for the largest single issuance in the interbank market for a bank; it issued RMB 30.0 billion in green financial bonds, becoming the first batch of commercial bank green bonds to apply the new catalog after the 《Green Finance Support Project Catalog (2025 Edition)》 was implemented.

As the first financial institution to participate voluntarily in emissions reduction in the national carbon market, Bank of China also completed the purchase and cancellation of the first batch of CCER registration, obtaining the first CCER voluntary cancellation certificate in the entire market.

While green credit expands rapidly, Bank of China implements dynamic monitoring and penetrative management for green projects throughout their full life cycle, ensuring that green finance can be both “fast on the run” and “steady on the run.”

Globalization services: Upgrading from “cross-border settlement” to “overseas infrastructure”

The state encourages enterprises to “go global” and actively participate in the restructuring of global industrial chains. But going global has never been smooth sailing—exchange rate fluctuations, compliance risks, capital management, and cultural differences are all hurdles.

What enterprises need is not only cross-border settlement channels, but also a financial partner that can accompany them through the “tough stages.” Bank of China’s role is shifting from a “funding channel” to a “guard/escort.”

Facing new overseas-expansion needs, Bank of China has evolved from a single funding channel into a one-stop escort platform covering overseas factory setup consulting, cross-border capital management, exchange-rate hedging, and compliance support.

In 2025, the cross-border e-commerce settlement scale reached RMB 1.18 trillion, up 45.07%; with cumulative credit lines exceeding USD 439 billion extended in countries participating in the “Belt and Road Initiative,” it supported flagship projects such as the Xi mang du iron ore. Bank of China also provides service support for about 1/4 of cross-border settlement across the market, maintaining leading positions in business scale and settlement-related revenue.

Behind this capability is a deep integration of Bank of China’s digital intelligence and globalization capabilities. A service network combining 46 CIPS direct participant banks and 18 RMB clearing banks, covering 64 countries and regions, together with an AI-driven cross-border risk-control system, enables enterprises to go global in ways that are “workable, secure, and reach far.”

Bank of China has established two major regional headquarters—BOC Hong Kong and BOC Europe—in Southeast Asia and Europe, respectively. The contribution of overseas institutions’ total assets reached 22.18%, and the contribution to profit before tax reached 27.99%. This has built a “one-point access, global response” service mechanism, so that regardless of where a company is located, it only needs to connect with one Bank of China window to tap into a global network of financial resources and services.

Conclusion

Looking back at 2025, Bank of China delivered a set of results featuring both scale and quality, driven by a foundation of “steady,” a structure of “progress,” and a leap in “quality.” Full-year operating income was RMB 659.9 billion, attributable net profit was RMB 243.0 billion, total assets exceeded RMB 38 trillion, and the non-performing ratio fell to 1.23%—behind these numbers is a reflection of the profound transformation of this century-old bank from a traditional “provider of funds” to a modern “co-builder of an ecosystem.” From the “End-to-end Cultivation Program” in technology finance, to the two-in-one champions of green finance at home and abroad, and then to system upgrades in globalization services, Bank of China is building competitive advantages that can carry it through cycles through a unique path of “full-cycle companionship, coverage across the entire value chain, and integration of all resources.”

For the “Fifteenth Five-Year Plan” period, Bank of China has embedded its development depth into the national strategic blueprint. As strategies such as “building a science and technology powerhouse,” the “dual carbon goals,” and “high-level opening-up to the outside world” are advanced further into depth, its early deployments in areas such as technology finance, green finance, and cross-border services are being converted into strategic momentum for sustained growth.

Looking ahead, BOC will continue to rely on its unique endowments of globalization and integrated operations to achieve high-quality development in serving national strategies, adhere to development that is innovation-driven and excellence-driven—toward being better, stronger, steadier, and smarter—injecting continuous financial momentum to open a strong start for the “Fifteenth Five-Year Plan” and to get off to a good first step.

(Editor-in-charge: Jiao Yue ）

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