AgBank's net rises
Source: Bloomberg News |
July 13, 2011, Wednesday
|
Print Edition
Print Edition
THE Agricultural Bank of China Ltd, the nation's third-largest lender, yesterday said first-half net profit rose more than 45 percent from a year ago on "significant growth" in interest and fees.
"Various businesses of the bank have been developing well, and the net interest margin has continued to increase," the bank said in a preliminary earnings report.
AgBank's first-half net income in 2010 was 45.8 billion yuan (US$7.1 billion).
Average net interest margin, a measure of profitability, rose to 2.6 percent in the first quarter from 2.5 percent in the fourth quarter of last year, the China Banking Regulatory Commission said.
"Various businesses of the bank have been developing well, and the net interest margin has continued to increase," the bank said in a preliminary earnings report.
AgBank's first-half net income in 2010 was 45.8 billion yuan (US$7.1 billion).
Average net interest margin, a measure of profitability, rose to 2.6 percent in the first quarter from 2.5 percent in the fourth quarter of last year, the China Banking Regulatory Commission said.
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