The “Universe Bank” crown has changed hands. On September 4, the banking sector bottomed out and rebounded. During the session, Agricultural Bank of China (AgBank) saw its A-share price surge over 5%, hitting a new historical high. Its total A+H market capitalization reached approximately ¥2.55 trillion, surpassing Industrial and Commercial Bank of China (ICBC)’s ¥2.5 trillion for the first time. This marks the second time AgBank has overtaken ICBC in less than a month, following AgBank’s A-share circulating market capitalization taking the top spot on August 6.
Data shows that as of 2:50 PM, AgBank’s A-shares rose 5.17% to ¥7.52, driving its total market capitalization to ¥2.55 trillion. ICBC’s A-shares increased by 1.75% to ¥7.57, with a total market capitalization of ¥2.5 trillion. In terms of total share capital, Agricultural Bank of China has approximately 350 billion shares, with A-shares accounting for 91% and H-shares for 9%. Industrial and Commercial Bank of China has about 356.4 billion shares, with A-shares comprising 76% and H-shares 24%.
In terms of performance, the big four state-owned banks have all released their 2025 interim reports. Agricultural Bank of China achieved operating revenue of ¥369.9 billion, a year-on-year increase of 0.85%. Its net profit attributable to parent company shareholders was ¥139.5 billion, up 2.66% year-on-year, making it the only bank among the big four to maintain positive profit growth. In contrast, although ICBC’s operating revenue of ¥427.1 billion remains the highest, its net profit attributable to parent company shareholders was ¥168.1 billion, a decrease of 1.39% year-on-year, with a growth rate more than 4 percentage points behind AgBank.
Stock price increases more directly reflect market sentiment. As of September 3, Agricultural Bank of China’s stock price has risen 39.71% year-to-date, ranking first in the banking sector and far exceeding ICBC’s 12.15% increase.
