Agricultural Bank of China (ABC) reported net profit attributable to shareholders of RMB 282.08 billion for 2024, up 4.72 per cent from RMB 269.36 billion in 2023, according to annual results approved by its board on 28 March 2025.
Operating income rose 2.3 per cent to RMB 710.56 billion. Net interest income increased 1.6 per cent to RMB 580.69 billion, while net fee and commission income fell to RMB 75.57 billion from RMB 80.09 billion. The net interest margin narrowed to 1.42 per cent from 1.60 per cent a year earlier. Basic earnings per share were RMB 0.75, compared with RMB 0.72 in 2023, and the weighted average return on equity was 10.46 per cent, down from 10.91 per cent. The cost-to-income ratio was 34.40 per cent.
ASSET QUALITY AND CAPITAL
The non-performing loan ratio fell by three basis points to 1.30 per cent at the end of 2024 from 1.33 per cent a year earlier, while the provision coverage ratio stood at 299.61 per cent, compared with 303.87 per cent. Total assets reached RMB 43.24 trillion, with gross loans and advances of RMB 24.91 trillion and deposits of RMB 30.31 trillion.
The common equity tier 1 capital ratio rose to 11.42 per cent from 10.72 per cent, and the total capital adequacy ratio increased to 18.19 per cent from 17.14 per cent.
DIVIDEND PROPOSAL
The board proposed a final dividend of RMB 1.255 per 10 shares, including tax, totalling RMB 43.92 billion. Together with the interim dividend already paid, the full-year dividend amounts to RMB 2.419 per 10 shares, or RMB 84.66 billion in total, subject to approval at the annual general meeting. ABC has been included in the Financial Stability Board's list of global systemically important banks every year since 2014.