A-Share Bank Stocks Rally; ICBC, CCB, Bocom Hit New Year-to-Date Highs
On July 30, China's A-share bank sector rallied against a broader market decline, with all 42 listed bank stocks gaining. ICBC, CCB, and Bocom hit new year-to-date highs. The Shenwan Banking Index closed at 4,151.41 points, up 2.48%, recovering to its start-of-year level. The rally follows a weak first half of 2026 and ahead of interim earnings season.
On July 30, major A-share indices fell broadly, but the bank sector bucked the trend with all 42 listed bank stocks closing higher. Industrial and Commercial Bank of China (ICBC) touched an intraday high of RMB 8.16 per share, a new year-to-date high, and closed at RMB 8.15, up 2.52% for the day. Bank of Communications (Bocom) closed at RMB 7.32 per share, also a new year-to-date high, rising 3.24%. China Construction Bank (CCB) hit an intraday record of RMB 10.98 per share, setting a new all-time high, and closed at RMB 10.97, up 3.2%.
In the first half of 2026, the A-share bank sector was weak, with the Shenwan Banking Index falling about 12%. Since the start of July, the sector has clearly recovered, with the index rallying steadily. On July 30, it rose 2.48% to 4,151.41 points, returning to its level at the beginning of the year.
A-share listed banks' total cash dividends for fiscal year 2025 hit a new record of approximately RMB 645.6 billion, an increase of about RMB 13 billion from 2024. Many banks achieved a dividend payout ratio of 30% or more. Among them, ICBC's dividend amounted to RMB 110.593 billion, and CCB's dividend reached RMB 101.684 billion.
The interim reporting season for listed banks is about to begin. Three banks—Bank of Chongqing, Chongqing Rural Commercial Bank, and Shanghai Pudong Development Bank (SPD Bank)—have already released preliminary results or key operating data for the first half of 2026. Both Bank of Chongqing and Chongqing Rural Commercial Bank reported growth in revenue and net profit attributable to shareholders. SPD Bank did not disclose specific profit figures but stated that operating efficiency improved steadily.