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SHANGHAI: Agricultural Bank of China (AgBank), the country’s third-largest commercial lender by assets, said net profit grew 5.5 per cent year on year in the first half of 2022. Profit was 128.9 billion yuan (US$18.63 billion) in the six months through to June, compared with 122.3 billion yuan in the same period a year earlier, the bank said in a filing on Monday (Aug 29).
The data implies a second quarter net profit of 58.2 billion yuan, up 3 per cent from a year earlier, Reuters calculations show.
The bank said its net interest margin – a key indicator of bank profitability – was 2.02 per cent at the end of June, compared with 2.09 per cent at the end of March.
It reported a 1.41 per cent non-performing loan ratio at the end of the second quarter, holding steady from the end of the previous quarter.
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