Agricultural Bank of China (AgBank) on 30 March 2026 reported a 3.18% rise in net profit for 2025 to about 291 billion yuan, the fastest growth among China's five largest state-owned lenders.
The result put AgBank ahead of Bank of China, which reported profit growth of 2.18%. The other three members of the big five posted nearly flat annual profits, while Postal Savings Bank of China reported a 1% increase in net profit to 87.4 billion yuan.
MARGINS AND ASSET QUALITY
AgBank's net interest margin (NIM) narrowed to 1.28% at the end of 2025 from 1.30% at the end of September, while its non-performing loan ratio was flat on the previous quarter. AgBank's and Bank of China's margins were largely in line with the other three big lenders; Bank of China's NIM was flat at the end of December compared with the prior quarter, and its non-performing loan ratio edged up to 1.24%.
"The contraction in NIM should ease in 2026, as we expect it comes to the tail-end of the interest rate-cut cycle," said Elaine Xu, a director at Fitch Ratings.
DEPOSIT REPRICING
A Reuters report on 24 March said the country's largest banks were expecting a boost to profits as nearly $8 trillion in deposits were due to be repriced. In a further Reuters report on 30 March, China's top banks said they expected less margin shrinkage and flagged challenges in their overseas businesses.
AgBank, one of China's big five state-owned lenders, has an extensive network serving rural areas and county economies.