Agricultural Bank of China Limited's third-quarter report "leads" major banks, with both revenue and profit increasing, and a decline in the non-performing loan ratio
Agricultural Bank of China Limited released its third-quarter report, with operating income of 540.659 billion yuan, a year-on-year increase of 1.31%; net profit attributable to shareholders was 215.372 billion yuan, a year-on-year increase of over 3.6%. In the third quarter, revenue was 173.519 billion yuan, net profit was 78.48 billion yuan, and net interest income was 437.8 billion yuan, a year-on-year increase of 1%. The total loan amount was 24.69 trillion yuan, with an increase of 2.07 trillion yuan, and customer deposit balance was 35.69 trillion yuan, with an increase of 3.13 trillion yuan. The non-performing loan ratio slightly decreased to 1.32%
On October 30th, Agricultural Bank of China Limited released its third-quarter report, which stands out among major banks.
Financial report disclosure: From January to September this year, this listed bank recorded an operating income of CNY 540.659 billion, a year-on-year increase of 1.31%; the net profit attributable to shareholders was CNY 215.372 billion, a year-on-year increase of over 3.6%, with overall growth rate ranking well among major banks.
In the third quarter, ABC's revenue was CNY 173.519 billion, a year-on-year increase of 3.37%, with growth rate accelerating. In the third quarter, the net profit attributable to shareholders was CNY 78.48 billion, a year-on-year increase of 5.88%.
Net interest income achieves positive growth
Among major banks, it is rare to see both revenue and profit achieve positive growth, and even rarer for net interest income to show positive growth.
ABC's third-quarter report shows: In the first three quarters of this year, Agricultural Bank of China's net interest income was CNY 437.8 billion, a year-on-year increase of 1%.
Additionally, the net interest margin, which has attracted investor attention, was 1.45%, unchanged from the first half of this year.
Personal and corporate loans double growth
The third-quarter report also disclosed that Agricultural Bank of China actively implements counter-cyclical adjustment policies, with total loans amounting to CNY 24.69 trillion in the first three quarters, an increase of CNY 2.07 trillion, with a growth rate of 9.17%.
Let's look at the specific breakdown:
Firstly, the balance of personal loans was CNY 8.75 trillion, with an increase of CNY 691.8 billion.
Secondly, the balance of corporate loans was CNY 14.3 trillion, with an increase of CNY 1.54 trillion.
Customer deposits increase by three trillion
The financial report disclosed: Agricultural Bank of China’s total customer deposit balance was CNY 35.69 trillion, with an increase of CNY 3.13 trillion.
Among them, the average daily balance of domestic personal deposits was CNY 17.6 trillion, with an increase of CNY 1.6 trillion; the average daily balance of domestic corporate customer deposits was CNY 11.6 trillion, with an increase of CNY 0.6 trillion.
Slight decrease in non-performing loan ratio
As of the end of September this year, Agricultural Bank of China's non-performing loan ratio was 1.32%, a decrease of 0.01 percentage points compared to the end of 2023.
Additionally, at the end of the reporting period, the ratio of special mention loans was 1.42%, unchanged from the end of last year. The overdue non-performing loan ratio was 87.61%, with a provision coverage ratio of 302.36%