Agricultural Bank of China : First-Half Net Profit Fell 10%

By Yi Wei Wong

Agricultural Bank of China Ltd.'s net profit fell 10% in the first half as the impact of Covid-19 weighed on its business operations.

Net profit fell to 108.83 billion yuan ($15.85 billion) from the CNY121.45 billion in the same period a year earlier, the lender said Sunday.

Net interest income rose to CNY258.90 billion from CNY237.63 billion in the same period last year, it said.

The lender's non-performing loan ratio fell to 1.48% in the first half, slightly lower than the 1.58% recorded in the same period a year earlier, it said.

The bank will focus on implementing zero-contact and digital financial services for its retail banking operations in the second half, it said.

Write to Yi Wei Wong at [e-mail]