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Agricultural Bank of China net profit up 12.65 pct

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(Globalpost/GlobalPost)

BEIJING, Aug. 26 (Xinhua) -- The Agricultural Bank of China, the country's third largest lender by assets, reported Tuesday that its net profits rose 12.6 percent year on year to 104 billion yuan (16.9 billion U.S. dollars) in the first half of the year.

Its business revenue amounted to 267 billion yuan, 79 percent of which is attributable to net interest income, according to the report filed to the Shanghai Stock Exchange.

By the end of June, the lender's asset value came in at 16 trillion yuan, an increase of 9.9 percent from the end of last year.

The bank's non-performing loans ratio stood at 1.24 percent, 0.02 percentage point higher than the previous year.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140826/agricultural-bank-china-net-profit-1265-pct