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Agricultural Bank of China 1H net profit up 3.3% on year

Agricultural Bank of China 1H net profit up 3.3% on year

BEIJING: Agricultural Bank of China, said Wednesday its net profit grew 3.3% in the first half of 2017 from a year earlier thanks to higher net interest income and other non-interest income.

Net profit for the six months ended Jun. 30 was 108.59 billion yuan ($16.50 million) compared to 105.15 billion yuan over the same period last year, the lender said in an exchange filing. Net interest income rose 6.2% on-year to 211.32 billion yuan, while other non-interest income more than doubled to 25.53 billion yuan. The state-controlled bank said its non-performing loan ratio declined by 0.18 percentage points to 2.19% at the end of June as compared to the end of the previous year.