Agricultural Bank of China

Agricultural Bank's net profit rose 5.51% yoy to CNY 60,194 mil in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China made a net profit of CNY 60,194 mil under revenues of CNY 152,803 mil in the second quarter of 2019, up 5....

Agricultural Bank's capital adequacy ratio rose 4.81% yoy to 15.5% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's capital adequacy ratio reached 15.5% at the end of second quarter of 2019, up from 15.3% when compar...

Agricultural Bank's price/earnings (P/E) fell 14.6% yoy to 5.49 in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China stock traded at HKD 2.87 per share at the end second quarter of 2019 implying a market capitalization of USD 128,8...

Profit Statement 2016 2017 2018
Net Interest Income CNY mil 398,104 441,930 477,760
Net Fee Income CNY mil 90,935 72,903 78,141
Other Income CNY mil 25,469 39,129 53,878
Total Revenues CNY mil 514,508 553,962 609,779
Operating Profit CNY mil 315,161 343,933 394,087
Provisions CNY mil 78,928 92,864 130,111
Net Profit CNY mil 183,941 192,962 202,783
Balance Sheet 2016 2017 2018
Interbank Loans CNY mil 1,526,700 1,175,900 1,032,700
Customer Loans CNY mil 9,319,400 10,316,300 11,461,500
Debt Securities CNY mil 5,395,900 6,187,500 6,909,200
Total Assets CNY mil 19,570,100 21,053,400 22,609,500
Shareholders' Equity CNY mil 1,321,600 1,429,400 1,674,800
Interbank Borrowing CNY mil 1,681,400 1,595,700 1,607,000
Customer Deposits CNY mil 15,224,100 16,422,500 17,838,400
Issued Debt Securities CNY mil 493,159 712,780 849,718
Ratios 2016 2017 2018
ROE % 14.5 14.0 13.1
ROA % 0.985 0.950 0.929
Costs (As % Of Assets) % 1.07 1.03 0.988
Costs (As % Of Income) % 38.7 37.9 35.4
Capital Adequacy Ratio % 13.0 13.7 15.1
Net Interest Margin % 2.13 2.18 2.19
Loans (As % Of Deposits) % 61.2 62.8 64.3
NPLs (As % Of Loans) % 2.91 2.32 2.09
Provisions (As % Of NPLs) % 141 162 192
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 128,844 156,035 134,649
Share Price (End Of Period) HKD 3.08 3.75 3.01
Price/Earnings (P/E) 6.06 7.58 5.92
Price/Book Value (P/BV) 0.843 1.02 0.716
Earnings Per Share (EPS) CNY 0.566 0.594 0.579
Book Value Per Share CNY 4.07 4.40 4.79

Get all company financials in excel:

Download Sample   $19.99

summary Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                    
Net Interest Income CNY mil                       341,879 376,202 429,891 436,140 398,104    
Total Revenues CNY mil                       429,214 471,602 530,367 546,708 514,508    
Operating Profit CNY mil                       246,395 272,213 304,664 321,057 315,161    
Net Profit CNY mil                       145,094 166,315 179,461 180,582 183,941    
balance sheet                                    
Interbank Loans CNY mil                       1,300,200 1,443,400 1,489,300 1,674,000 1,526,700    
Customer Loans CNY mil                       6,153,400 6,902,500 7,740,000 8,506,700 9,319,400    
Debt Securities CNY mil                       2,851,400 3,242,600 3,598,700 4,556,000 5,395,900    
Total Assets CNY mil                       13,244,300 14,562,100 15,974,200 17,791,400 19,570,100    
Shareholders' Equity CNY mil                       751,354 844,537 1,032,600 1,211,900 1,321,600    
Interbank Borrowing CNY mil                       945,378 951,309 1,212,300 1,650,500 1,681,400    
Customer Deposits CNY mil                       10,904,700 11,921,400 12,666,600 13,722,600 15,224,100    
Issued Debt Securities CNY mil                       150,951 156,404 272,115 259,075 493,159    
ratios                                    
ROE %                       20.7 20.8 19.1 16.1 14.5    
ROA %                       1.16 1.20 1.18 1.07 0.985    
Costs (As % Of Assets) %                       1.47 1.43 1.48 1.34 1.07    
Costs (As % Of Income) %                       42.6 42.3 42.6 41.3 38.7    
Capital Adequacy Ratio % ... ... ... ... ... ... ...         12.6 11.9 12.8 13.4 13.0    
Net Interest Margin %                       2.74 2.71 2.82 2.58 2.13    
Interest Income (As % Of Revenues) %                       79.7 79.8 81.1 79.8 77.4    
Fee Income (As % Of Revenues) %                       17.4 17.6 15.1 15.1 17.7    
Equity (As % Of Assets) %                       5.67 5.80 6.46 6.81 6.75    
Loans (As % Of Deposits) %                       56.4 57.9 61.1 62.0 61.2    
Loans (As % Assets) %                       46.5 47.4 48.5 47.8 47.6    
NPLs (As % Of Loans) % ... ...     ... ...           1.51 1.36 1.87 2.70 2.91    
Provisions (As % Of NPLs) % ... ...     ... ...           287 328 237 167 141    
valuation                                    
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... ... ... ... ...     103,874 105,841 153,136 133,075 128,844    
Number Of Shares (Average) mil ... ... ... ... ...             324,794 324,794 324,794 324,794 324,794    
Share Price (End Of Period) HKD ... ... ... ... ... ... ... ... ...     2.48 2.53 3.66 3.18 3.08    
Earnings Per Share (EPS) CNY ... ... ... ... ...             0.447 0.512 0.553 0.556 0.566    
Book Value Per Share CNY ... ... ... ... ...             2.31 2.60 3.18 3.73 4.07    
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ...     6.90 6.32 8.27 6.82 6.06    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ...     1.33 1.24 1.44 1.02 0.843    
Earnings Per Share Growth % ... ... ... ... ... ...           19.0 14.6 7.90 0.625 1.86    
Book Value Per Share Growth % ... ... ... ... ... ...           15.6 12.4 22.3 17.4 9.05    
income statement Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                    
Interest Income CNY mil                       566,063 613,384 699,289 725,793 657,190    
Interest Cost CNY mil                       224,184 237,182 269,398 289,653 259,086    
Net Interest Income CNY mil                       341,879 376,202 429,891 436,140 398,104    
Net Fee Income CNY mil                       74,844 83,171 80,123 82,549 90,935    
Other Income CNY mil                       12,491 12,229 20,353 28,019 25,469    
Total Revenues CNY mil                       429,214 471,602 530,367 546,708 514,508    
Operating Cost CNY mil                       182,819 199,389 225,703 225,651 199,347    
Operating Profit CNY mil                       246,395 272,213 304,664 321,057 315,161    
Provisions CNY mil                       54,628 52,126 65,063 81,897 78,928    
Extra and Other Cost CNY mil                       3,840 5,913 7,344 8,303 9,609    
Pre-Tax Profit CNY mil                       187,927 214,174 232,257 230,857 226,624    
Tax CNY mil                       42,796 47,963 52,747 50,083 42,564    
Minorities CNY mil                       37.0 -104 49.0 192 119    
Net Profit CNY mil                       145,094 166,315 179,461 180,582 183,941    
growth rates                                    
Net Interest Income Growth % ...                     11.3 10.0 14.3 1.45 -8.72    
Net Fee Income Growth % ...                     8.86 11.1 -3.66 3.03 10.2    
Total Revenue Growth % ...                     12.7 9.88 12.5 3.08 -5.89    
Operating Cost Growth % ...                     16.1 9.06 13.2 -0.023 -11.7    
Operating Profit Growth % ...                     10.2 10.5 11.9 5.38 -1.84    
Pre-Tax Profit Growth % ...                     18.8 14.0 8.44 -0.603 -1.83    
Net Profit Growth % ...                     19.0 14.6 7.90 0.625 1.86    
market share                                    
Market Share in Revenues % ... ... ... ... ... ... ... ... ...     13.6 13.2 12.6 11.8 11.0   ...
Market Share in Net Profit % ... ... ... ... ... ...           9.60 ... ... ... ... ... ...
Market Share in Employees % ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ...
balance sheet Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                    
Cash CNY mil                       2,613,100 2,603,800 2,743,100 2,587,100 2,811,700    
Interbank Loans CNY mil                       1,300,200 1,443,400 1,489,300 1,674,000 1,526,700    
Customer Loans CNY mil                       6,153,400 6,902,500 7,740,000 8,506,700 9,319,400    
Retail Loans CNY mil ... ... ... ... ... ...           1,708,000 2,095,600 2,401,000 2,734,600 3,346,400    
Mortgage Loans CNY mil ... ... ... ... ... ... ... ...       1,051,000 1,292,000 1,550,700 1,927,000 2,560,000    
Corporate Loans CNY mil ... ... ... ... ... ...           4,725,400 5,129,100 5,697,100 6,175,300 6,373,200    
Debt Securities CNY mil                       2,851,400 3,242,600 3,598,700 4,556,000 5,395,900    
Fixed Assets CNY mil                       169,469 178,724 182,448 183,335 185,316    
Total Assets CNY mil                       13,244,300 14,562,100 15,974,200 17,791,400 19,570,100    
Shareholders' Equity CNY mil                       751,354 844,537 1,032,600 1,211,900 1,321,600    
Of Which Minority Interest CNY mil           ... ...         1,539 1,429 1,553 1,794 3,398    
Liabilities CNY mil                       12,492,900 13,717,600 14,941,600 16,579,500 18,248,500    
Interbank Borrowing CNY mil                       945,378 951,309 1,212,300 1,650,500 1,681,400    
Customer Deposits CNY mil                       10,904,700 11,921,400 12,666,600 13,722,600 15,224,100    
Sight Deposits CNY mil ... ... ... ...               5,928,400 6,452,500 6,559,100 7,128,500 8,439,100    
Term Deposits CNY mil ... ... ... ...               4,976,300 5,468,900 6,107,500 6,594,100 6,785,000    
Issued Debt Securities CNY mil                       150,951 156,404 272,115 259,075 493,159    
Other Liabilities CNY mil                       491,917 688,450 790,585 947,325 849,841    
asset quality                                    
Non-Performing Loans CNY mil ... ...     ... ...           97,440 98,157 151,373 240,786 283,325    
Gross Loans CNY mil                       6,433,400 7,224,700 8,098,100 8,909,900 9,719,600    
Total Provisions CNY mil                       279,988 322,191 358,071 403,243 400,275    
growth rates                                    
Customer Loan Growth % ...                     14.0 12.2 12.1 9.91 9.55    
Retail Loan Growth % ... ... ... ... ... ... ...         19.4 22.7 14.6 13.9 22.4    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ...     17.9 22.9 20.0 24.3 32.8    
Corporate Loan Growth % ... ... ... ... ... ... ...         12.6 8.54 11.1 8.39 3.20    
Total Asset Growth % ...                     13.4 9.95 9.70 11.4 10.00    
Shareholders' Equity Growth % ...                     15.6 12.4 22.3 17.4 9.05    
Customer Deposit Growth % ...                     13.1 9.32 6.25 8.34 10.9    
market share                                    
Market Share in Customer Loans % ... ...                   9.14 8.67 8.58 8.09 7.99    
Market Share in Total Assets % ... ...                   9.91 9.55 9.28 8.93 8.49    
Market Share in Customer Deposits % ... ...                   11.6 28.6 28.0 24.1 21.4    
ratios Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                    
ROE %                       20.7 20.8 19.1 16.1 14.5    
ROA %                       1.16 1.20 1.18 1.07 0.985    
Costs (As % Of Assets) %                       1.47 1.43 1.48 1.34 1.07    
Costs (As % Of Income) %                       42.6 42.3 42.6 41.3 38.7    
Capital Adequacy Ratio % ... ... ... ... ... ... ...         12.6 11.9 12.8 13.4 13.0    
Tier 1 Ratio % ... ... ... ... ... ... ...         9.67 9.25 9.46 11.0 11.1    
Net Interest Margin %                       2.74 2.71 2.82 2.58 2.13    
Interest Spread % ...                     2.64 2.60 2.70 2.46 2.03    
Asset Yield %                       4.54 4.41 4.58 4.30 3.52    
Cost Of Liabilities % ...                     1.91 1.81 1.88 1.84 1.49    
Interest Income (As % Of Revenues) %                       79.7 79.8 81.1 79.8 77.4    
Fee Income (As % Of Revenues) %                       17.4 17.6 15.1 15.1 17.7    
Other Income (As % Of Revenues) %                       2.91 2.59 3.84 5.13 4.95    
Equity (As % Of Assets) %                       5.67 5.80 6.46 6.81 6.75    
Loans (As % Of Deposits) %                       56.4 57.9 61.1 62.0 61.2    
Loans (As % Assets) %                       46.5 47.4 48.5 47.8 47.6    
NPLs (As % Of Loans) % ... ...     ... ...           1.51 1.36 1.87 2.70 2.91    
Provisions (As % Of NPLs) % ... ...     ... ...           287 328 237 167 141    
Provisions (As % Of Loans) %                       4.55 4.67 4.63 4.74 4.30    
Cost of Provisions (As % Of Loans) %                       0.946 0.799 0.889 1.01 0.886    
other data Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                    
Employees ...                     461,100 478,980 493,583 503,082 496,698    
Sight (As % Of Customer Deposits) % ... ... ... ...               54.4 54.1 51.8 51.9 55.4    
On-balance Sheet Loans RMB mil ... ... ... ... ... ... ... ... ... ... ... ... 6,902,500 7,740,000 8,506,700 9,319,400    

Get all company financials in excel:

Download Sample   $19.99

Agricultural Bank's corporate loans rose 13.5% yoy to CNY 7,859,900 mil in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's loans reached CNY 12,991,700 mil in the second quarter of 2019, up from CNY 12,634,100 mil when compared to the previous quarter and up from CNY 11,463,100 mil when compared to the same period of last year. Historically, t...

Agricultural Bank's npls (as % of loans) fell 12.5% yoy to 1.85% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's non-performing loans reached 1.85% of total loans at the end of 2019-06-30, down from 2.11% compared to the previous year. Historically, the NPL ratio hit an all time high of 2.91% in 2016-12-31 and an all time low of 1.22% in 2014-03...

Agricultural Bank's net interest margin fell 6.85% yoy to 1.99% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's net interest margin amounted to 1.99% in the second quarter of 2019, down from 2.06% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 3.99% in 4Q2015 and an all time ...

Agricultural Bank's market capitalisation (end of period) fell 21.4% to USD 128,822 mil in 2Q2019

By Helgi Analytics - October 23, 2019

Agricultural Bank of China stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. Over the last five years, the stock has depreciated by 36.4 implying an annual average growth of -8.65% ...

Agricultural Bank's share price (end of period) fell 13.9% yoy to HKD 2.87 in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China stock traded at HKD 2.87 per share at the end of second quarter of 2019 implying a market capitalization of USD 128,822 mil. Over the last five years, the stock has appreciated by 5.00 % implying an annual average growth of 0.981 %. In absol...

Agricultural Bank's equity (as % of assets) rose 1.24% yoy to 7.25% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's Equity reached 7.25% of total assets in the 2Q2019, up from 7.16% for the previous year. As a share of net customer loans, the ratio amounted to 13.9% at the end of the second quarter of 2019. ...

Agricultural Bank's customer loan growth rose 33.3% yoy to 13.4% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's customer loan growth reached 13.4% in 2019-06-30, up from 10.1% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 16.7% in 2011-03-31 and an all time low of 7.78% in 2016-06-30. I...

Agricultural Bank's retail loan growth fell 3.23% yoy to 17.4% in 2Q2019

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's retail loans reached CNY 5,102,400 mil at the end of 2019-06-30, up 3.85% compared to the previous year. In the last decade, the average annual loan growth amounted to 0%. Overall, retail loans accounted for 40.9% of the bank's ...

Agricultural Bank's capital adequacy ratio rose 10.0% to 15.1% in 2018

By Helgi Analytics - October 10, 2019

Agricultural Bank of China's capital adequacy ratio reached 15.1% at the end of 2018, up from 13.7% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 15.1% in 2018 and an all time low of 9.41% in 2008. The Tier 1 ra...

Agricultural Bank's net profit rose 5.09% to CNY 202,783 mil in 2018

By Helgi Analytics - October 10, 2019

Agricultural Bank of China made a net profit of CNY 202,783 mil under revenues of CNY 609,779 mil in 2018, up 5.09% and 10.1% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of CNY 202,783 mil in 2018 and an all ti...

More News

Agricultural Bank of China Logo

Finance

Agricultural Bank of China has been growing its revenues and asset by 11.0% and 12.4% a year on average in the last 10 years. Its loans and deposits have grown by 14.3% and 11.3% a year during that time and loans to deposits ratio reached 64.3% at the end of 2018. The company achieved an average return on equity of 18.1% in the last decade with net profit growing 14.7% a year on average. In terms of operating efficiency, its cost to income ratio reached 35.4% in 2018, compared to 41.3% average in the last decade.

Equity represented 7.41% of total assets or 14.6% of loans at the end of 2018. Agricultural Bank of China's non-performing loans were 2.09% of total loans while provisions covered some 192% of NPLs at the end of 2018.

Valuation

Agricultural Bank of China stock traded at HKD 3.01 per share at the end of 2018 resulting in a market capitalization of USD 134,649 mil. Over the previous five years, stock price rose by 19.2% or 3.58% a year on average. That’s compared to an average ROE of 15.4% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 5.92x and price to book value (PBV) of 0.716x in 2018.