ABC first half profits increase by over 20%
(5 September 2012 – China) Agricultural Bank of China (ABC) has reported a 20.8 percent surge in profits year on year in the first half to 80.52 billion yuan (A$12.4 billion).
The bank attributed the profit increase to the steady growth of brokerage business, income from the interest rates gap and lower operating costs, according to its semi-annual report.
Its asset value increase of 10.5 percent from last year to 12.9 trillion yuan or A$2 trillion.
The non-performing loans ratio stood at 1.39 percent at the end of June, 0.16 percentage point lower than at the beginning of the year.
The capital adequacy ratio was 12.02 percent, 0.08 percentage point higher than that of January.
Revenues from commission charges rose 4.8 percent year on year to 38.9 billion yuan with brokerage businesses, including credit cards, insurance agents and other financial agent businesses, posting robust expansions.
Its asset value increase of 10.5 percent from last year to 12.9 trillion yuan or A$2 trillion.
The non-performing loans ratio stood at 1.39 percent at the end of June, 0.16 percentage point lower than at the beginning of the year.
The capital adequacy ratio was 12.02 percent, 0.08 percentage point higher than that of January.
Revenues from commission charges rose 4.8 percent year on year to 38.9 billion yuan with brokerage businesses, including credit cards, insurance agents and other financial agent businesses, posting robust expansions.
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