October 2026
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 15,000 outlets. Of these, 413 outlets are in 49 countries and regions overseas. Corporate banking, retail banking, and wholesale banking accounted for 49%, 39%, and 11% of total revenue, respectively, and 49%, 33%, and 17% of profit before tax in 2025. Overseas banking and other business contributed 14% of total revenue and 9% of profit before tax in 2025. | $1 | +16% | $426B | $426B | 3.4x | - | ||
| 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 | -3% | $372B | $372B | 3.4x | - | ||
| Founded in 1912 and headquartered in Beijing, Bank of China, or BOC, has evolved through multiple institutional mandates—from central bank to foreign exchange specialist to state-owned trade finance bank—before establishing its current universal banking model. The group was dual-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 | +31% | $313B | $313B | 3.2x | - | ||
| 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 | +10% | $162B | $162B | 3.3x | - | ||
| 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 | +20% | $102B | $102B | 2.6x | - | ||
| 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 | -13% | $96B | $96B | 1.8x | - | ||
| 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 | +25% | $71B | $71B | 2.3x | - | ||
| 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 | +30% | $68B | $68B | 6.0x | - | ||
| 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 | -3% | $58B | $58B | 1.8x | - | ||
| 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 | -10% | $48B | $48B | 1.9x | - | ||
| 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 | +30% | $34B | $34B | 3.2x | - | ||
| Bank Of Jiangsu is a Chinese financial institution based in Jiangsu province. It provides banking or credit services to corporate and individual clients in its regional market. Its disclosed activities include corporate lending, and it supplied loans to the Rundong automobile dealership group over a continuing business relationship. The institution earns income through the provision of financial services and financing to its customers. Rundong reacquired a minority equity interest in the institution in December 2013 after previously holding the shares as nominee for another beneficial owner. The acquired holding comprised 10 million shares and represented approximately 0.11 percent of its issued equity. The transaction reflected an existing banking relationship rather than an acquisition of control over the financial institution. Rundong described it as a business partner in Jiangsu and stated that it did not plan a broader financial-institution investment programme. | $2 | +21% | $34B | $34B | 2.6x | - | ||
| 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 | +8% | $33B | $33B | 1.7x | - | ||
| China Everbright Bank is a publicly listed commercial bank headquartered in Beijing, China. It was founded in 1992 and operates a nationwide banking network as a member of China Everbright Group. The organization serves retail customers, companies and institutions with banking and wealth products. Its principal activities include net interest income, service fees, commissions and investment income. Revenue is generated mainly through deposits, corporate and consumer loans, payments, cards, treasury services, custody and wealth management. Its ownership and regulatory position make it a significant participant in its market, while its operating results remain tied to the performance and risk profile of the financial services it provides. China Everbright Bank serves B2B and B2C customers through activities spanning Commercial Banking and Wealth Management. | $0 | -1% | $26B | $26B | 1.4x | - | ||
| China Minsheng Bank (China Minsheng Banking Corp.) is a Chinese commercial bank headquartered on Fuxingmennei Avenue in Xicheng District, Beijing. It was established on 12 January 1996, founded by lawyer and businessman Jing Shuping, as the first bank in China with an ownership base of private-sector shareholders, part of the economic reforms led by Premier Zhu Rongji. It is listed in Shanghai (600016) and, since 2009, in Hong Kong (1988), and is a component of the SSE 50 index. The bank focuses on lending to small and medium-sized enterprises and also provides retail banking, cards, mortgages and consumer loans, private banking, wealth management, trade finance and corporate banking through more than 200 outlets in China, with relationships with over 700 overseas banks. It reported operating income of about CNY 137.4 billion and total assets of about CNY 7.64 trillion in 2023. After a difficult start, with high bad loans and negative returns in 1999, it replaced its management in 2000 and later refocused on small-business and private-enterprise customers. Its investment affiliates have backed Chinese technology companies such as Inspur Cloud (2019), X-MAGTECH, Juntian Aerospace (2023) and BOIIR (2024), and it took part in Suning Sports' 2018 Series A round. It earns net interest income and fees. | $1 | -5% | $22B | $22B | 1.0x | - | ||
| 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 | +11% | $22B | $22B | ||||
| 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 | +8% | $21B | $21B | ||||
| 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. | $3 | +14% | $18B | $18B | ||||
| 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 | +7% | $18B | $18B | ||||
| Hua Xia Bank Co Ltd is a commercial bank. It provides services in corporate banking, personal banking, and businesses related to financial markets. | $1 | -1% | $15B | $15B | ||||
| 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 | +8% | $12B | $12B | ||||
| 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 | +21% | $12B | $12B | ||||
| China Zheshang Bank Co Ltd the principal activities of the Bank include corporate and retail banking, treasury business, and other banking service. The company's business segments include Corporate banking; Retail banking; Treasury operations and other business. It generates maximum revenue from the Corporate banking segment. Geographically the company generates majority of revenue from Yangtze River Delta Region. | $0 | -27% | $11B | $11B | ||||
| 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 the County Area and Urban Area. | $1 | -15% | $11B | $11B | ||||
| 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 | +39% | $8.3B | $8.3B | ||||
| 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 | +16% | $6B | $6B | ||||
| 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 | +6% | $5.8B | $5.8B | ||||
| 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 retail 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 bank also conducts business through branches in Chengdu, Guiyang, and Xi'an. | $1 | -31% | $5B | $5B | ||||
| 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 | -16% | $4.4B | $4.4B | ||||
| China Bohai Bank Co Ltd offers banking services in China. Its operating segments are: Corporate Banking, Retail Banking, Financial Market Business, and Others. Maximum revenue is generated from the Corporate Banking segment, which provides a range of financial products and services to corporations, government agencies, and financial institutions. These products and services include corporate loans and advances, trade financing, deposit-taking activities, agency services, consulting and advisory services, remittance and settlement services, guarantee services, etc. The Retail banking segment caters to individual customers, and the financial markets business enters into interbank money market transactions, repurchase transactions, interbank investments, and bond investments and trading. | $0 | -30% | $1.6B | $1.6B | ||||
| 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 | +0% | $1.5B | $1.5B | ||||
| Median | $1 | +8% | $22B | $22B | 2.5x | - |
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