At Least 20 A-Share Banks Plan 2026 Interim Dividends of RMB266.1 Billion
At least 20 A-share listed banks have announced 2026 interim dividend plans totaling about RMB266.11 billion. The six largest state-owned banks will distribute a record RMB221 billion, up from RMB204.7 billion in 2025, after raising their payout ratio to 31%. Industrial Bank, China Merchants Bank, and Bank of Nanjing have confirmed interim payouts without disclosing amounts. Several city and rural commercial banks, including Bank of Shanghai and Shanghai Rural Commercial Bank, have also unveiled plans.
As of September 9, 2026, at least 20 A-share listed banks have published their 2026 interim profit distribution plans, with combined proposed cash dividends of approximately RMB266.11 billion. Ruifeng Bank was the first to implement its dividend, with a record date of September 9 and an ex-dividend and payment date of September 10. It plans to distribute RMB0.10 per share (including tax), totaling RMB196 million, representing about 20% of its first-half net profit attributable to shareholders.
China Minsheng Bank announced on September 8 its implementation plan for the 2026 interim A-share dividend. Based on a total share capital of 43.782 billion shares, it will pay RMB0.118 per share (including tax), totaling RMB5.166 billion, or approximately 26% of its first-half net profit attributable to shareholders. The record date is September 14, with the ex-dividend date and cash dividend payment date both on September 15. In addition, China Merchants Bank, Industrial Bank, and Bank of Nanjing have confirmed they will pay interim dividends, though specific amounts have not yet been disclosed.
The six largest state-owned banks are the main contributors to interim dividends. In 2026, they uniformly raised their interim payout ratio from 30% to 31%, with combined proposed cash dividends of approximately RMB221 billion, an increase of about RMB16.3 billion from the same period in 2025, setting a new record. Tian Fenglin, board secretary of ICBC, stated at an earnings conference that the payout ratio increase was based on three considerations: actively responding to market concerns and investor demands; support from steady earnings growth; and balancing shareholder returns with long-term development needs. He also noted that since its listing in 2006, ICBC's cumulative cash dividend returns have exceeded RMB1.64 trillion. According to public disclosures, the six major banks collectively achieved net profit attributable to shareholders of RMB712.598 billion in the first half, up 4.41% year on year, with net interest margins stabilizing and all banks reporting growth in both revenue and net profit.
Among joint-stock banks, China CITIC Bank will distribute RMB2.03 per 10 shares (including tax), totaling RMB11.296 billion, with a payout ratio of 30.04%. China Merchants Bank has confirmed a 35% interim cash dividend payout ratio for 2026, with implementation scheduled for January to February 2027. Among city and rural commercial banks, Bank of Shanghai plans to distribute RMB3.00 per 10 shares (including tax), totaling approximately RMB4.263 billion, with a payout ratio of about 32.05%. Shanghai Rural Commercial Bank plans to distribute RMB2.41 billion in interim cash dividends, with a payout ratio of 34.07%. Ruifeng Bank, Jiangyin Bank, and Bank of Chengdu have joined interim dividend distribution for the first time in 2026. Bank of Chengdu has written a policy of distributing no less than 30% of annual cash dividends into its articles of association, and for its first interim dividend in 2026, it plans to distribute RMB4.89 per 10 shares, totaling RMB2.073 billion.
Some banks that have disclosed interim dividend plans have relatively lower payout ratios. Bank of Ningbo reported first-half net profit attributable to shareholders of RMB16.562 billion, up 12.12% year on year, with an interim cash dividend of RMB2.641 billion, representing 16%. Bank of Beijing achieved first-half net profit attributable to shareholders of RMB15.900 billion, up 5.63% year on year, and plans to distribute RMB2.749 billion in cash dividends, representing 17%. According to Bank of Beijing's half-year report, its total assets stood at RMB4.74 trillion as of the end of June, down RMB195.3 billion from RMB4.94 trillion at the end of 2025, marking the bank's first half-year decline in assets and making it the only A-share listed city commercial bank with negative asset growth in 2026.