Agricultural Bank of China Limited (OTCPK:ACGBY) Q4 2024 Earnings Conference Call March 28, 2025 5:00 AM ET
Company Participants
Wang Wenjing – Vice President
Liu Qing – Board Secretary
Lin Li – Vice President
Liu Hong – Vice President
Unidentified Company Representative
Ladies and gentlemen, good afternoon. Welcome to the Annual Results Announcement of ABC. It’s a great honor to meet our online, on-site, international, domestic investors, analysts, and media friends.
With that, I would like to express my appreciation to your active participation and my thanks go to your long-term support and interest in the development of ABC.
Today, we have with us Mr. Lin Li, Vice President of ABC; Vice President of ABC, Liu Hong; and Vice President of ABC, Mr. Wang Wenjing; and Vice President of ABC, Meng Fanjun; and Mr. Liu Qing, Board Secretary of ABC; and directors — some other directors are joining us online.
Wang Wenjing
I’d like to present some of the [big effects] (ph) on three aspects. First one is operation results. In 2024, ABC implemented the strategies from the government and provided support to the agricultural development as well as real economy, optimized our management strategies, major operating indicators are performing good. First the growth rate in the first half of 2024 turning from negative to positive, and in second half of 2024, we continued to optimize. And the total net profit, RMB222.7 or 4.8%, and operating income RMB711.4 billion or 2.3%, interest income RMB580.7 billion, 1.6%.
And then, second, newly growth loan, RMB2.29 trillion or 10.13%. The growth of corporate and individual loans or personal loans are leading our peers and also the individual loan where the discrepancy is 0.42% and also leading among the peers.
Asset quality was sound. NPL ratio, 1.3%, down by 3 bps from the year-end of last year. Special
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