期内，该行实现手续费及佣金净收入467.36亿元，同比减少39.95亿元，下降7.9%。其中，顾问和谘询业务收入增长6.6%，主要是银团贷款服务收入增加；代理业务收入下降28.8%，主要是受“报行合一”政策影响，代理保险收入阶段性减少。Jingu financial newsletter | Agricultural Bank of China (01288) announced that for the six months ended June 30, 2024, the net profit attributable to shareholders was 135.892 billion yuan (RMB, the same below), an increase of 1.99% year-on-year, with a basic earnings per share of 0.37 yuan. Proposed dividend of 1.164 yuan (tax inclusive) per 10 shares.
During the period, the bank's revenue was 367.14 billion yuan, an increase of 0.37% year-on-year.
During the period, the bank achieved a net interest income of 290.848 billion yuan, an increase of 0.427 billion yuan year-on-year, of which the increase in scale led to an increase of 32.223 billion yuan in net interest income, while the interest rate change resulted in a decrease of 31.796 billion yuan in net interest income. In the first half of 2024, the bank's net interest margin was 1.45%, with a net interest spread of 1.30%, a decrease of 21 and 19 basis points year-on-year, respectively. The year-on-year decline in the net interest margin and net interest spread were mainly due to the bank's support for the real economy, LPR reduction, overall downward market interest rates, etc., leading to a decrease in asset yield.
During the period, the bank achieved a net fee and commission income of 46.736 billion yuan, a decrease of 3.995 billion yuan year-on-year, down 7.9%. Among them, advisory and consultancy business income increased by 6.6%, mainly due to an increase in syndicated loan service income; agency business income decreased by 28.8%, mainly affected by the 'separation of banking and insurance' policy, resulting in a temporary reduction in agency insurance income.
As of June 30, 2024, the bank's total assets were 41984.553 billion yuan, an increase of 5.3% from the end of the previous year. Among them, net customer loans and advances increased by 1706.968 billion yuan, a growth of 7.9%; financial investments increased by 1639.796 billion yuan, a growth of 14.6%; cash and deposits with the central bank increased by 115.258 billion yuan, a growth of 3.9%; placements with other banks and funds borrowed decreased by 500.715 billion yuan, a decrease of 31.4%, mainly due to a decrease in cooperative placements with other banks; purchase of resale financial assets decreased by 1069.204 billion yuan, a decrease of 59.1%, mainly due to a decrease in buyback of bonds.
As of June 30, 2024, the bank's non-performing loan balance was 320.429 billion yuan, an increase of 19.669 billion yuan from the end of the previous year; the non-performing loan ratio was 1.32%, a decrease of 0.01 percentage points from the end of the previous year. The balance of special mention loans was 345.863 billion yuan, an increase of 25.746 billion yuan from the end of the previous year; the special mention loan ratio was 1.42%, the same as the end of the previous year.
As of June 30, 2024, the core Tier 1 capital adequacy ratio was 11.13%; Tier 1 capital adequacy ratio was 13.76%; capital adequacy ratio was 18.45%.