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One of China's oldest banks and a top-five state-backed lender across retail, corporate and international banking.
One of China's oldest banks and a top-five state-backed lender across retail, corporate and international banking.
Earns mostly from the spread between interest paid on deposits and charged on loans, with fees from wealth products and cards as a smaller line. It is the smallest of the five large state-backed banks, with the Ministry of Finance as its largest shareholder. These Shanghai shares and the Hong Kong ones are the same bank.
In one line: A mid-tier China-based full-service bank.
Moat: narrow (scale, regulatory licence). Top-five state-backed bank scale, though smaller and less dominant than the 'big four'.
Headquarters: Shanghai, China · Founded: 1908 · Employees: 97,932
Size Bank of Communications (601328.SS) is a China Financials company (Major Banks) with a market value of $106B, the 18th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.30 on 6 Nov 2026.
Performance Over six months the shares gained 22.1%, against +7.0% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 5.3% over the last twelve months (peer median +1.9%); the operating margin is 39.3% (peer median 36.8%).
Valuation It trades at 0.62× book value against a peer median of 1.74× (2nd cheapest of 21).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | CN¥511B | CN¥539B | CN¥552B | CN¥507B |
| Revenue growth | — | -5% | -2% | +9% | — |
| Net income | n/a | CN¥90.8B | CN¥88.0B | CN¥87.1B | CN¥86.5B |
| Free cash flow | n/a | CN¥98.3B | -CN¥161B | CN¥105B | CN¥170B |
| Capital expenditure | n/a | CN¥43.2B | CN¥42.2B | CN¥47.6B | CN¥31.7B |
| Total debt | CN¥3.46T | CN¥4.65T | CN¥4.63T | CN¥4.17T | CN¥3.78T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Bank of Communications 601328.SS | $106B | +22% | -5% | 8% | 0.62× | 2.4% |
| Industrial and Commercial Bank of China 601398.SS | $428B | +13% | -4% | 10% | 0.75× | 2.7% |
| China CITIC Bank 601998.SS | $71.5B | +9% | -6% | 9% | 0.67× | 2.5% |
| China Merchants Bank 600036.SS | $164B | +12% | +9% | 14% | 0.94× | 5.4% |
| HSBC HSBA.L | $301B | -1% | -4% | 14% | 1.51× | 17.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 601328.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.0% | +2.3% | 5th highest of 21 |
| 6-month return | +22.1% | +7.0% | 3rd highest of 21 |
| Return on equity | 8.2% | 12.7% | lowest of 21 |
| Price / book | 0.62× | 1.74× | 2nd cheapest of 21 |
| Trailing P/E | 7.7× | 12.2× | 2nd cheapest of 20 |
| ROE the price implies | 2.4% | 14.7% | least demanding of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Bank of Communications 601328.SS | China | $106B | +22% | -5% | 8% | 0.62× | 2.4% | n/a |
| Mizuho Financial 8411.T | Japan | $110B | +7% | +6% | 13% | 1.52× | 11.5% | 12.5% |
| Bank of Nova Scotia BNS.TO | Canada | $114B | +21% | -3% | 12% | 1.99× | 16.3% | 11.6% |
| BNP Paribas BNP.PA | France | $114B | 0% | +8% | 11% | 0.84× | 10.4% | 10.9% |
| Oversea-Chinese Banking O39.SI | Singapore | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% | 13.2% |
| Bank of Montreal BMO.TO | Canada | $120B | +16% | -2% | 11% | 2.14× | 16.4% | 10.6% |
| Intesa Sanpaolo ISP.MI | Italy | $120B | +6% | -6% | 16% | 1.81× | 20.7% | 16.4% |
| U.S. Bancorp USB | United States | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% | 12.8% |
| Capital One COF | United States | $121B | +7% | +26% | 9% | 1.11× | 11.1% | 9.3% |
| ING Groep INGA.AS | Netherlands | $89.8B | +11% | +7% | 14% | 1.63× | 12.5% | 13.6% |
| PNC Financial Services PNC | United States | $89.4B | +4% | +8% | 13% | 1.59× | 13.2% | 12.9% |
| Westpac Banking WBC.AX | Australia | $87.6B | +4% | +2% | 9% | 1.78× | 16.4% | 9.5% |
| HDFC Bank HDFCBANK.NS | India | $129B | -1% | +5% | 14% | 2.00× | 24.8% | 13.9% |
| National Australia Bank NAB.AX | Australia | $86.2B | +9% | -8% | 10% | 2.02× | 20.2% | 10.0% |
| UniCredit UCG.MI | Italy | $130B | +6% | +2% | 17% | 1.77× | 25.8% | 17.3% |
| Itau Unibanco Holding S.A. Sponsored ADR Pfd ITUB | United States | $84.9B | -12% | +8% | 22% | 1.84× | 11.8% | 21.7% |
| ANZ ANZ.AX | Australia | $84.2B | +17% | -5% | 8% | 1.71× | 14.4% | 8.3% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| Lloyds Banking LLOY.L | United Kingdom | $73.7B | +2% | -2% | 14% | 1.37× | 17.2% | 14.3% |
| China CITIC Bank 0998.HK | Hong Kong | $73.0B | 0% | -1% | 9% | 0.45× | 4.5% | 8.6% |