May 2026
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Largest Commercial Banking Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
ICBC China, Agricultural Bank of China, Bank Of China, China Merchants Bank and Bank of Communications.
 | Industrial and Commercial Bank of China was founded in 1984 and is headquartered in Beijing. The bank listed its shares in mainland China and Hong Kong in 2006. It is China's largest by asset scale and by share of lending and deposits. Central Huijin Investment (China's sovereign wealth fund manager) and China's Ministry of Finance are ICBC's two largest shareholders, each with a stake of around 35%. ICBC operates over 16,000 outlets. Of these, 413 outlets are in 49 countries and regions overseas. Corporate banking, retail banking, and wholesale banking accounted for 48%, 40%, and 12% of total revenue, respectively, and 58%, 23%, and 18% of profit before tax in 2024. Overseas banking and other business contributed 13% of total revenue and 11% of profit before tax in 2024. | $1 | 0% | $368B | $623B | 5.1x | - | ||
| As one of the Big Four banks, ABC is headquartered in Beijing. The bank evolved from a state-owned specialized bank to a state-controlled commercial bank. It was listed on the Hong Kong and Shanghai Stock Exchanges in 2010. ABC operates a more than 20,000-branch network in China, providing corporate and retail banking products and services, and carries out treasury operations for its accounts or for its customers. Shareholders Central Huijin, China's state-owned investment company, and the Ministry of Finance own 40.14% and 35.29%, respectively. Corporate banking, retail banking, and wholesale banking accounted for 39%, 55%, and 3% of total revenue in 2024, respectively. Rural banking and urban banking contributed 49% and 51%, respectively, of total revenue during the same period. | $1 | +11% | $327B | $604B | 5.6x | - | ||
| Beijing-headquartered Bank of China was founded in 1912. The bank has evolved as a central bank, international exchange bank, and state-owned bank specializing in foreign trade business. BOC was listed on the Hong Kong and Shanghai stock exchanges in 2006. It provides a comprehensive range of financial services to customers across Greater China and overseas. Central Huijin, a Chinese state-owned investment company and BOC's largest shareholder, controls 64%. BOC has the most extensive global reach among Chinese banks, with operations in 64 countries and regions. | $1 | +13% | $267B | $593B | 6.1x | - | ||
| China Merchants Bank was founded in 1987 and is headquartered in Shenzhen. The bank is China's seventh-largest listed bank by assets, with the largest distribution network among China's joint-stock banks. CMB's network has been expanding rapidly. Its outlets are located mainly in China's more developed areas, including the Pearl River and Yangtze River deltas. The firm has 18% and 82% of its shares listed on the Hong Kong and Shanghai exchanges, respectively. It has no foreign strategic investors. China Merchants Group is its largest shareholder, with a 30% stake. Retail banking, corporate banking, and wholesale banking accounted for 49%, 51%, and 0% of total profit before tax, respectively, and 40%, 58%, and 2% of total revenue in 2024. | $6 | -14% | $147B | $176B | 3.6x | - | ||
| Bank of Communications, or Bocom, is the only nationwide state-owned bank with its headquarters in Shanghai. As one of China's four oldest banks, Bocom became China's first state-owned shareholding commercial bank in 1987. Today, Bocom is amid a strategic transformation, building itself into a global wealth-management bank with wide-ranging financial operations, including insurance, brokerage, trust, and asset management.It operates a comprehensive financial services platform that includes corporate finance, personal finance, and money market operations. Bocom is known for its strategic importance in the process of RMB internationalization, particularly with its role as one of the first banks involved in the Cross-Border Interbank Payment System, or CIPS. | $1 | -9% | $88B | $212B | 5.4x | - | ||
| Postal Savings Bank of China Co Ltd is headquartered in Beijing. The bank provides personal and corporate banking services that include savings business, micro loan, bank cards, settlement businesses, and others. | $1 | -7% | $87B | $50B | 1.0x | - | ||
| Bank of China Hong Kong, or BOCHK, is a subsidiary of Bank of China. It is the second-largest bank in Hong Kong in terms of loan and deposit market shares. Although BOCHK is legally separate from its parent, it maintains close relationships with it in management, administration, and business relations. The two companies also cooperate in several areas, including the reselling of Bank of China's insurance and securities services. Bank of China holds a 66% stake in BOCHK. | $6 | +41% | $65B | $76B | 6.7x | - | ||
| China Citic Bank is headquartered in Beijing and is the ninth-largest commercial bank in China. It offers a full range of commercial banking services, with 1,459 outlets in 153 cities in China and branches in Hong Kong, Macao, New York, Los Angeles, and Singapore, as of mid-2024. The bank was founded in 1987 and is a major subsidiary of Citic Group, a leading state-owned conglomerate in China. | $1 | -9% | $59B | $240B | 7.7x | - | ||
| Industrial Bank was founded in 1988 and started as a regional bank in Fujian province. It has grown to become the second-largest joint-stock bank in China with more than CNY 10 trillion in assets as of December 2024. The bank offers a full range of commercial banking services. Its specialty is bank-bank cooperation. It also operates a proprietary “Yinyin platform” that offers complete financial service solutions to other financial institutions such as payments and settlements, wealth management, and technology output services. | $3 | -19% | $58B | $175B | 5.6x | - | ||
| Shanghai Pudong Development Bank Co Ltd provides various banking services such as corporate banking, personal banking, and business services related to financial markets. The bank has its branches and business offices in China and other countries. | $1 | -32% | $46B | $246B | 9.6x | - | ||
| Ping An Bank has its headquarters in Shenzhen, China. The bank is a leading countrywide joint-stock commercial bank. Its parent, Ping An insurance Group, the second-largest insurance company in China, owns about a 58% stake in Ping An Bank. The bank was formerly known as Shenzhen Development Bank and was merged with Ping An Bank in mid-2012. The bank offers a full range of commercial banking services, operating 109 branches and 1,180 outlets in China. | $2 | -7% | $32B | $118B | 6.1x | - | ||
| Bank Of Jiangsu Co Ltd is engaged in providing banking products and services for personal and business banking, including savings, deposits, loans, and other banking products. The Bank is also involved in the provision of electronic banking, Internet banking, mobile phone banking, and telephone banking services. | $2 | -2% | $31B | $168B | 12.9x | - | ||
| Bank of Ningbo is the fifth largest city commercial bank in China by total assets. Established in 1997 and listed on the Shenzhen Exchange in 2007, the bank has a headquartered in Ningbo, a vice provincial city in Zhejiang province. It has a differentiated positioning in SME and nonmortgage retail loan business. The bank has established 16 branches in Zhejiang Province, Jiangsu Province, Shanghai, Beijing, and Guangdong Province. These regions contributed about 64%, 22%, 4.5%, 3.6%, and 4.6%, respectively, to total loans in 2024. It has a diversified shareholding structure, with SASAC of Ningbo Municipal Government, Singapore’s OCBC Bank, and Youngor Group holding 19%, 17.8%, and 10% of the shares, respectively, as of end-2024. | $5 | +18% | $31B | $131B | 12.3x | - | ||
| China Everbright Bank Co Ltd is a licensed bank financial institution. The principal activities of the Bank and its subsidiaries are the provision of corporate and retail deposits, loans and advances, settlement, treasury business, and other financial services as approved by the CBIRC. The group mainly operates in Mainland China and also has a number of overseas branches and subsidiaries. The group manages its business by business lines and geographical areas. Its segments include Corporate banking, Retail banking, Financial market business, and Others. | $0 | -22% | $27B | $252B | 13.5x | - | ||
| Founded in 1996 and headquartered in Beijing, China Minsheng Banking Corp. is one of the first privately owned commercial banks in China. The bank’s shares were listed on the Shanghai Exchange in 2000 and on the Hong Kong Exchange in 2009. CMBC focuses on serving non-state-owned enterprises, micro and small businesses, and high-end retail customers. The bank has a diverse shareholding structure and operates over 23,000 banking outlets across 125 cities in China. | $1 | -23% | $23B | $163B | 7.7x | - | ||
| Bank Of Nanjing Co Ltd is a commercial bank. It is engaged in the provision of banking and related financial services. The company operates its businesses through four segments. The Corporate Banking Business segment focuses on serving corporate clients with offerings such as corporate loans, bill issuance, trade financing, corporate deposits, and remittance services. The Personal Banking Business segment caters to individual customers, providing retail loans, savings deposit services, credit card services, and remittance services. The Funding Business segment covers activities such as fund investment, asset management, trust plan investment, bond investment, repurchase and resale operations, and inter-bank lending, and the Other segment. | $2 | -1% | $21B | $85B | 10.5x | - | ||
| Bank of Shanghai Co Ltd is a commercial banking company. It is mainly involved in providing banking and financial services such as Corporate banking, Retail banking, Treasury business, and others. The Bank conducts its business through three segments. The Wholesale Financial Business segment serves corporate clients, government agencies, and peer institutions with loans, deposits, trade finance, settlements, investment banking, asset custody, interbank transactions, financial market operations, and equity investments. The Retail Financial Business segment offers individuals loans, deposits, wealth management, remittances, securities agency, and bank card services. The Other Business segment covers mobile and corporate online banking as well as other related services. | $1 | -11% | $20B | $99B | 12.2x | - | ||
| Bank Of Hangzhou Co Ltd provides banking products and services. It offers products and services, including saving a deposit, individual housing mortgage loans, personal car mortgage loans, debit cards, and private banking services. The Corporate Business segment serves large and medium-sized corporations with deposits, loans, and financial services. The Small Business segment provides banking solutions to small enterprises and individual business owners. The Retail Business segment offers deposits, cards, loans, and asset management to non-business individuals. The Treasury Business segment handles interbank transactions, investments, and related operations. The Other Business segment includes all remaining related activities. The business activities of the group are operated in China. | $2 | -2% | $17B | $70B | 12.2x | - | ||
| Hua Xia Bank Co Ltd is a commercial bank. It provides services in corporate banking, personal banking, and businesses related to financial markets. | $1 | -11% | $16B | $142B | 10.4x | - | ||
| Bank Of Beijing Co Ltd is a commercial bank in China providing a comprehensive range of commercial banking products and services. Its business consists of corporate banking, personal banking, financial market, and international business. | $1 | -23% | $16B | $87B | 8.7x | - | ||
| Shanghai Rural Commercial Bank Co Ltd is engaged in the corporate banking, personal banking, and financial market business. The Corporate Banking Business segment serves corporate clients by offering deposits, lending, investment banking, settlement and cash management, bill services, and trade finance solutions. The Personal Banking Business segment caters to individual customers, providing services such as personal deposits, personal loans, bank card operations, settlement, agency services, and various other offerings. The Financial Market Business segment covers activities including money market dealings, repurchase agreements, bond investments, interest rate and precious metals derivatives transactions, and wealth management services. | $1 | -7% | $13B | $37B | 9.9x | - | ||
| Bank of Chengdu Co Ltd is a state-owned commercial bank. Its principal businesses include business loans, fixed assets loans, bank acceptance bills, direct discounts on bank acceptance bills, guarantees, real estate development loans, and legal person account overdrafts, among other services. The bank provides its services in China. | $3 | -2% | $12B | $39B | 11.3x | - | ||
| China Zheshang Bank Co Ltd provides corporate and personal deposits, loans and advances, clearing and settlement services, treasury business, and other banking services as approved by the CBIRC. The company's business segments include Corporate banking; Retail banking; Treasury operations and other business. It generates maximum revenue from the Corporate banking segment. The corporate banking segment covers the provision of financial products and services to corporations, government agencies, and other institutions. The products and services include corporate loans and advances, trade financing, deposit products, and various types of corporate intermediary services, etc. Geographically the company operates in the Chinese Mainland. | $0 | -10% | $12B | $74B | 8.2x | - | ||
| Chongqing Rural Commercial Bank Co Ltd provides a range of banking and related services in China. The company operates in three segments: Corporate banking, which includes corporate loans, trade financing, deposit takings, financial leasing, and other services; Personal banking segment includes personal loans, deposit products, card business, personal wealth management services, and other services; and Financial market operations, which conducts money market or repurchase transactions and debt instruments investment. Its geographical segments are County and Urban. | $1 | -4% | $11B | $34B | 8.1x | - | ||
| Huishang Bank Corp Ltd is a regional commercial bank in China. The company operates through four main business segments: corporate banking, retail banking, treasury, and others. The corporate banking segment provides financial services to corporate customers, government authorities, and financial institutions, such as current accounts, deposits, overdrafts, loans, and wealth management products. The retail banking segment provides services to retail customers, such as savings deposits, personal loans, and advances. The treasury segment provides securities investment and money market and repurchase transactions. The other segment includes investment holding and other miscellaneous activities. The company operates in China and earns the majority of its revenue in the Anhui Province. | $1 | +28% | $9B | $56B | 11.2x | - | ||
| Bank Of Chongqing Co Ltd is is engaged in banking business. The company's core businesses consist of the corporate banking business, which provides corporate customers with financial products and services such as deposits and loans; the retailing banking business, which provides individual customers with financial products and services; and the treasury business, which is involved in interbank lending and borrowing, bond investment, repurchasing, and foreign currency transactions. The company generates over half of total revenue from the corporate banking business. The company's business is concentrated in Chongqing, and the firm also conducts business through branches in Chengdu, Guiyang, and Xi'an. | $2 | +11% | $6B | $30B | 13.8x | - | ||
| Bank of Changsha Co Ltd is a China based company involved in the banking industry. It provides various commercial banking products and services. It offers savings products, deposits, consumer and business loans, and credit products. | $1 | -1% | $6B | $33B | 8.8x | - | ||
| Bank of Suzhou Co Ltd operates as a bank. The company offers commercial banking services, including checking account services, making various loans, and basic financial products like certificates of deposit and savings accounts to individuals and small businesses. | $1 | -4% | $5B | $30B | 16.6x | - | ||
| Bank of Qingdao Co Ltd is engaged in the banking business. Its main segments include corporate banking, retail banking, and financial market business. The corporate banking segment offers financial products and services to corporations, government agencies, and financial institutions. The retail banking segments comprise personal loans and deposit services, whereas the financial market business covers inter-bank money market transactions, repurchases transactions, investments in debt securities, and non-standardised debt investments, and others. It generates the majority of its revenue from the corporate business segment. | $1 | -- | $4B | $20B | 9.3x | - | ||
| China Bohai Bank Co Ltd offers banking services. Its operating segments are Corporate Banking, Retail Banking, Financial Market Business, and others. The company generates its revenue from the Corporate banking segment, which offers products and services such as corporate loans, trade financing, deposit-taking activities, agency services, wealth management services, and other services. The Retail segment includes services such as personal loans, deposit-taking activities, personal wealth management services, and remittance services. The Financial market business includes inter-bank money market transactions, repurchase transactions, and investments. Geographically, the bank operates only in China. | $0 | -7% | $2B | $43B | 11.7x | - | ||
| Yibin City Commercial Bank Co Ltd is a city commercial bank in Yibin, Sichuan Province of China. It services include Personal deposits, Personal Loans, Intermediary business, Deposit business, etc. | $0 | +2% | $2B | $2B | 5.7x | - | ||
| Median | $1 | -5% | $21B | $87B | 8.8x | - |
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