Agricultural Bank of China 1st Half Net Profit Up 3.3%

Features Dow Jones Newswires

Agricultural Bank of China Ltd. (1288.HK) said on Wednesday that its first-half net profit rose 3.3% from a year earlier, thanks to higher interest income.

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Net profit for the three months ended June 30 rose to 108.6 billion yuan ($16.5 billion) from 105.15 billion yuan a year earlier, China's third-largest lender by assets said.

Net interest income rose 6.2% to 211.32 billion yuan and net fee and commission income dropped 16.9% to 42.47 billion yuan.

Outstanding bad loans totaled 228.4 billion yuan at the end of June, down from 230.8 billion yuan at the end of 2016. The bank's nonperforming loan ratio also fell to 2.19% from 2.37% at the end of March.

Write to Grace Zhu at grace.zhu@wsj.com

(END) Dow Jones Newswires

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August 30, 2017 05:06 ET (09:06 GMT)