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Agricultural Bank of China reports net profit decline

Published on: 7:56 pm - Monday | September 7, 2020

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The Agricultural Bank of China, one of the country’s largest commercial lenders, saw its net profit slide 10.8 percent year on year in the first half of this year (H1).

The bank raked in 109.19 billion yuan (about 15.97 billion U.S. dollars) in net profit in the first six months of 2020, down 13.18 billion yuan from the same period last year, its H1 report showed.

During the period, the operating income of the bank amounted to 339.17 billion yuan, up 1.6 billion yuan from a year earlier, according to the report.

As of the end of June, its outstanding non-performing loans stood at 207.75 billion yuan, with the non-performing loan ratio at 1.43 percent, an increase of 0.03 percentage points from the previous year-end.

Meanwhile, the newly-added loans for the real economy came in at 1.17 trillion yuan in H1, 225.9 billion yuan more than the same period last year.

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