RETAIL BANKING | Cesar Tordesillas, China

Agricultural Bank of China ups net profit by 19.2%

A net profit of US$19.06 billion.

This figure for the first three quarters, which is equivalent to 120.12 billion yuan, translates to a 19.2 percent year-on-year rise for Agricultural Bank of China.

Aside from a robust net profit, the bank also saw its total assets amounted to 13.06 trillion yuan as of the end of the first three quarters, up 11.85 percent from the end of the previous year.

Another bright spot for the bank is its net interest income. Its 253.24 billion yuan during the January-September period, is a 13.37 percent rise from the corresponding period last year. Its income from commission charges grew 58.11 billion yuan, up 5.99 percent year on year.

According to the report, the bank's core capital adequacy ratio stood at 9.76 percent, 0.26 percent higher than that of the end of last year, while its capital adequacy ratio climbed to 12.07 percent, up 0.13 percent compared to the end of the previous year.

The bank's non-performing loan ratio stood at 1.34 percent as of the end of September, down 0.21 percent from the end of 2011, while its non-performing loans outstanding shrank to 83.95 billion yuan, 3.41 billion yuan less than that of the end of last year, the report said.

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