- AgBank, BoC after reading H1
- NPL indicators are stable
BEIJING / Shanghai, Aug 30 (Reuters) – Agricultural Bank of China (AgBank) (601288.SS) and Bank of China Ltd (BoC) (601988.SS) both companies posted a steady half of their net income on Monday as NPLs remain stable.
AgBank’s first-half profit rose 12.4%, while Bank of Canada posted 11.8% growth in the same period, the biggest jump since 2014 and 2013, respectively, as business activity rebounded from the COVID pandemic. 19.
The results are similar to those published by the Industrial and Commercial Bank of China. (601398.SS), Bank of Communications Co Ltd (601328.SS) and China Construction Bank Corp. (601939.SS)all of them showed more than 9% growth in net income for the first half on Friday.
Both AgBank and BoC reported stable growth in problem loans.
The Bank of Canada recorded the same NPL ratio of 1.3% at the end of June, which is in line with the end of the first quarter, while AgBank’s NPL ratio fell slightly from 1.53% to 1.5% over the same period. …
At Bank of China, net interest margin (NIM) – a key measure of profitability for banks – fell slightly at the end of June to 1.76% from 1.8% at the end of the previous quarter. AgBank did not disclose its net interest margin.
Reporting by Cheng Leung, Zhang Yan and Engen Tam; Editing by Toby Chopra and Louise Havens
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