sgusers7的部落格

Agricultural Bank of China (1288), China's third-largest state-owned lender, surprised the market with a decreasing bad-loans ratio in the first half, during which it earned 92.self storage4 billion yuan (HK$116 billion), meeting upper estimates. Net profit rose 22 percent from the first six months of 2012. But it slipped 4 percent to 45.3 billion yuan in the April- June period from the previous quarter, though still above expectations. Earnings per share hit 28 fens. No interim dividend was proposed. Total net interest income hit 180 billion yuan in the first six months, up 7.2 percent. But the net interest margin retreated by 11 basis points to 2.74 percent as a result of two central bank interest rate cuts in 2012. The lender, which focuses on rural and underdeveloped regions in the country, said its non-performing loans ratio fell 0.08 percentage point to 1.25 percent as of June 30 from a 迷你倉ear ago. China's western area was a major contributor to AgBank's bad loans, followed by Yangtze River Delta. The lender also had 94.5 billion yuan overdue loans, up 7.5 percent year on year. ``We expect the amount of NPLs to stabilize in the second half and the ratio will go down further,'' said Song Xianping, head of risk management, via a video link from the bank's Beijing headquarters. President Zhang Yun expects China's ongoing interest rate liberalization to hurt the net interest margin. ``We will try to maintain our NIM by reducing costs and adjusting structure,'' he said. Profit growth was expected to slow due to asset quality deterioration and rising funding costs. The capital adequacy ratio declined 0.8 percentage point to 11.81 percent as of June 30. AgBank shares fell 1.5 percent to HK$3.29. The results came out after the market had closed. grace.cao@singtaonewscorp.com 文件倉