Agricultural Bank of China Limited (OTCPK:ACGBY) Q2 2022 Earnings Conference Call August 29, 2022 5:00 AM ET Company Participants Han Guoqiang - Secretary of the Board of Directors Conference Call Participants Han Guoqiang Ladies and gentlemen, good afternoon. I am Han Guoqiang, Secretary of the Board of Directors of Agricultural Bank of China ABC. So the wind is very core and the sky is very clear in this pictures, early autumn season. We are very pleased to hail the investors, journalists and analysts to ...

Dividends and Shareholder Returns - The bank distributed cash dividends of RMB 0.2068 per share, totaling RMB 72.376 billion to shareholders as of July 14, 2022[1] - The bank did not declare an interim dividend for 2022 and will not convert capital reserves into capital[1] Financial Performance - Net profit for the first half of 2022 was RMB 128,950 million, a 5.5% increase compared to RMB 122,833 million in the same period of 2021[23] - In the first half of 2022, the company achieved a net profit of CNY 128.95 billion, an increase of CNY 6.12 billion or 4.98% year-on-year[28] - The operating income for the first half of 2022 was CNY 387.20 billion, reflecting a growth of CNY 21.66 billion or 5.9% year-on-year[28] - Total operating income for the first half of 2022 reached RMB 387,196 million, a 5.0% increase from RMB 365,537 million in the same period of 2021[55] Assets and Liabilities - Total assets reached RMB 32,426,420 million as of June 30, 2022, up from RMB 29,069,155 million at the end of 2021, representing an increase of 8.4%[23] - The bank's total liabilities reached RMB 29,900,207 million as of June 30, 2022, compared to RMB 26,647,796 million at the end of 2021, indicating an increase of 8.5%[23] - The company's total deposits amounted to RMB 24,119.85 billion, reflecting an increase of RMB 22,127.27 billion or 10.1% from the end of the previous year[74] Loans and Advances - The total amount of loans and advances issued was RMB 18,813,552 million as of June 30, 2022, compared to RMB 17,175,073 million at the end of 2021, reflecting a growth of 9.5%[23] - The net amount of loans and advances increased by RMB 1,581,669 million, representing a growth of 9.6% compared to the previous year[56] - The balance of loans and discounted bills for domestic companies totaled RMB 108,621.15 billion, up by RMB 12,697.54 billion from the end of 2021[84] Risk Management - The report includes a section on risk management and internal controls, detailing the main risks faced by the bank[3] - The bank emphasizes that forward-looking statements in the report are based on current plans and estimates, and actual results may differ significantly due to various factors[3] - The bank's risk management framework has been strengthened, with a focus on monitoring and managing risks in real estate and large group clients[180] Capital Adequacy - The bank's core tier 1 capital adequacy ratio was 11.11% as of June 30, 2022, slightly down from 11.44% at the end of 2021[24] Interest Income and Expenses - Interest income for the first half of 2022 reached CNY 542.77 billion, an increase of CNY 49.30 billion year-on-year, primarily due to an increase in the average balance of interest-earning assets by CNY 2,920.30 billion[33] - Interest expenses totaled CNY 242.55 billion, an increase of CNY 32.44 billion year-on-year, primarily due to an increase in the average balance of interest-bearing liabilities by CNY 2,730.04 billion[39] Non-Performing Loans - The non-performing loan ratio improved to 1.41% as of June 30, 2022, down from 1.43% at the end of 2021[24] - The non-performing loan balance reached RMB 264.46 billion, with a non-performing loan ratio of 1.41%, a slight decrease of 0.02 percentage points from the end of 2021[179] Digital Transformation and Technology - The bank's digital transformation and financial technology applications are focused on enhancing operational quality and efficiency through big data, cloud computing, and artificial intelligence[137] - The bank's core system processed an average daily transaction volume of 1.161 billion transactions, with peak daily transaction volume reaching 1.353 billion transactions, achieving a core system availability rate of 99.99%[140] Customer Base and Services - The total number of personal customers reached 859 million, maintaining industry leadership[91] - The number of active users of the mobile banking app exceeded 164 million by June 30, 2022[117] International Operations - In the first half of 2022, the net profit from overseas branches was $400 million, with international settlement volume amounting to $847.655 billion[122] - The total assets of Agricultural Bank of China (Luxembourg) reached $39 million, with a net profit of $2.18 million in the first half of 2022[124] Environmental Commitment - The report outlines the bank's commitment to green finance, supporting environmental improvement and resource-efficient economic activities[6]

Financial Performance - The total operating income for the first quarter was RMB 205,949 million, representing a year-on-year increase of 5.91%[5] - The net profit attributable to shareholders of the parent company reached RMB 70,750 million, with a year-on-year growth of 7.42%[5] - The basic earnings per share were RMB 0.20, indicating an increase of 11.11% year-on-year[5] - The group achieved a net profit of RMB 70.636 billion for the three months ending March 31, 2022, representing a year-on-year increase of 6.72%[13] - Net interest income was RMB 150.968 billion, reflecting a year-on-year growth of 7.75%[14] - The net profit attributable to shareholders for the first quarter of 2022 was RMB 70,750 million, compared to RMB 65,861 million in the first quarter of 2021, indicating a growth of 8.9%[34] - The bank's basic and diluted earnings per share for the first quarter of 2022 were RMB 0.20, up from RMB 0.18 in the same quarter of 2021[34] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 30,888,302 million, reflecting a growth of 6.26% from the end of the previous year[5] - The total liabilities increased to RMB 28,354.073 billion, a growth of 6.40% from the end of the previous year[15] - The total amount of loans and advances was RMB 18,151.723 billion, up RMB 97.665 billion or 5.69% from the end of the previous year[15] - The total assets reached RMB 30,888,302 million as of March 31, 2022, compared to RMB 29,069,155 million at the end of 2021, marking an increase of 6.3%[32] - As of March 31, 2022, total liabilities amounted to RMB 28,354,073 million, an increase from RMB 26,647,796 million as of December 31, 2021, representing a growth of 6.4%[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 470,995, with the top ten shareholders holding significant stakes[8] - Central Huijin Investment Ltd. and the Ministry of Finance were the largest shareholders, holding 40.03% and 35.29% of shares, respectively[8] - The top 10 shareholders of the company hold a total of 141,342,881,051 shares, representing 40.39% of the total shares outstanding[9] - The largest shareholder, Huijin Company, holds 130,005,103,782 shares, accounting for 36.78% of the total shares[9] - The second-largest shareholder, the Ministry of Finance, holds 113,637,855,266 shares, representing 32.56% of the total shares[9] - The company maintains a stable shareholder structure with no reported pledges or freezes on shares among the top shareholders[10] Cash Flow and Investments - The net cash flow from operating activities was RMB 367,281 million, showing a decrease of 4.05% compared to the previous year[5] - The total cash inflow from investment activities was RMB 475,734 million, compared to RMB 384,499 million in the previous year, reflecting an increase of approximately 23.7%[36] - The net cash outflow from investment activities was RMB 203,513 million, significantly higher than the outflow of RMB 19,182 million in the same period last year[36] - The cash flow from operating activities for the bank was RMB 364,971 million, compared to RMB 355,610 million in the same period last year, showing a slight increase of approximately 2.0%[35] - The cash received from the issuance of debt securities was RMB 352,148 million, compared to RMB 453,308 million in the same period last year, indicating a decrease of approximately 22.3%[36] Capital and Ratios - The capital adequacy ratio stood at 17.18%, compared to 17.13% at the end of the previous year[24] - The Tier 1 capital net amount was RMB 2,509,511 million, up from RMB 2,402,361 million as of December 31, 2021[30] - The leverage ratio was 7.67%, exceeding regulatory requirements[29] - The average liquidity coverage ratio for the first quarter of 2022 was 125.6%, an increase of 4.5 percentage points from the previous quarter[27] Other Information - Non-recurring gains and losses amounted to a net loss of RMB 51 million, with the impact on the net profit attributable to shareholders of the parent company being a loss of RMB 52 million[7] - The company has not disclosed any significant new product developments or market expansions during the reporting period[9] - There are no indications of mergers or acquisitions in the recent financial disclosures[9] - The bank's total equity increased to RMB 2,509,511 million as of March 31, 2022, reflecting a strong capital position[30] - The bank's total operating expenses for the first quarter of 2022 were RMB 120,073 million, up from RMB 113,612 million in the first quarter of 2021, indicating an increase of 5.7%[33]

Financial Performance - The operating income for the first quarter of 2022 was RMB 205,857 million, representing a year-on-year increase of 5.84%[3] - The net profit attributable to shareholders of the parent company was RMB 70,750 million, reflecting a growth of 7.42% compared to the same period last year[3] - The group achieved a net profit of RMB 70.636 billion for the three months ending March 31, 2022, representing a year-on-year increase of 6.72%[13] - Operating revenue reached RMB 205.857 billion, an increase of 5.84% year-on-year, with net interest income growing by 7.75% to RMB 150.968 billion[13] - Basic earnings per share increased to RMB 0.20, up RMB 0.02 year-on-year[13] - The bank's net profit and shareholders' equity showed no discrepancies between the consolidated financial statements prepared under international financial reporting standards and those prepared under Chinese accounting standards[20] - For the three months ended March 31, 2022, the pre-tax profit from operating activities was RMB 85,812 million, an increase from RMB 80,830 million in the same period of 2021, representing a growth of 3.6%[34] Assets and Liabilities - The total assets at the end of the reporting period reached RMB 30,888,302 million, marking a 6.26% increase from the end of the previous year[4] - Total assets amounted to RMB 3,088.8302 billion, an increase of RMB 181.9147 billion or 6.26% compared to the end of the previous year[14] - Customer loans and advances totaled RMB 1,815.1723 billion, up RMB 97.665 billion or 5.69% from the end of the previous year[14] - Total liabilities increased by RMB 170.6277 billion to RMB 2,835.4073 billion, reflecting a growth of 6.40%[14] - The bank's total liabilities as of March 31, 2022, were RMB 28,354,073 million, an increase from RMB 26,647,796 million at the end of 2021, reflecting a growth of 6.4%[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 470,995, with the top ten shareholders holding 40.03% of the shares[5] - The combined shareholding of Huijin Company and its subsidiary was 141,342,881,051 shares, accounting for 40.39% of the total shares[7] - The total number of shares held by the National Social Security Fund Council was 23,520,968,297, representing 6.72% of the total shares[5] Capital Adequacy and Ratios - As of March 31, 2022, the core tier 1 capital adequacy ratio was 11.36%, while the total capital adequacy ratio was 17.18%[23] - The average liquidity coverage ratio for the first quarter of 2022 was 125.6%, an increase of 4.5 percentage points from the previous quarter[26] - The leverage ratio as of March 31, 2022, was 7.67%, which is above the regulatory requirement[28] - The bank's risk-weighted assets amounted to RMB 18,482.48 billion as of March 31, 2022[23] Cash Flow and Investment Activities - The net cash flow from operating activities was RMB 367,281 million, showing a decrease of 4.05% year-on-year[3] - Cash flow from investment activities showed a net outflow of RMB 203,513 million, compared to a smaller outflow of RMB 19,182 million in the same period last year, reflecting a significant increase in investment expenditures[35] - The cash and cash equivalents balance as of March 31, 2022, was RMB 1,284,624 million, down from RMB 1,517,269 million at the end of the previous year, indicating a decrease of 15.3%[35] - The net cash flow from financing activities was RMB 50,000 million, a significant decrease from RMB 453,308 million in the same period last year, reflecting reduced capital raising activities[35] Loan and Deposit Information - As of March 31, 2022, the total amount of loans and advances to county customers reached RMB 6,656.52 billion, an increase of RMB 438.21 billion, representing a growth of 7.05% compared to the end of the previous year[17] - Total deposits absorbed in county areas amounted to RMB 10,130.47 billion, an increase of RMB 717.02 billion, reflecting a growth of 7.62% from the end of the previous year[17] Non-Performing Loans - The non-performing loan balance was RMB 254.449 billion, with a non-performing loan ratio of 1.41%, a decrease of 0.02 percentage points from the end of the previous year[16] - The non-performing loan ratio for county areas was 1.38%, a decrease of 0.04 percentage points from the end of the previous year; the provision coverage ratio increased by 5.87 percentage points to 337.97%[17] - The provision coverage ratio improved to 307.50%, an increase of 7.77 percentage points compared to the end of the previous year[16] Earnings and Income - The basic and diluted earnings per share were both RMB 0.20, an increase of 11.11% from the previous year[3] - The bank's net fee and commission income for the first quarter of 2022 was RMB 31,669 million, up from RMB 30,371 million in the same period last year, showing a growth of 4.3%[30] - The bank's investment income from associates and joint ventures increased to RMB 343 million in the first quarter of 2022, compared to RMB 210 million in the same period of 2021, reflecting a growth of 63.3%[30]

Financial Performance - The bank achieved a net profit of RMB 241.936 billion for the year 2021, reflecting its strong financial performance[2] - Net profit for 2021 was RMB 241,936 million, reflecting a growth of 11.8% compared to RMB 216,400 million in 2020[11] - The company's operating income for 2021 was RMB 721.7 billion, representing a year-on-year growth of 9.5%, while net profit reached RMB 241.9 billion, up 11.8% from the previous year[26] - The company reported a tax expense of RMB 53.94 billion, an increase of RMB 5.29 billion or 10.9%, with an effective tax rate of 18.23%[76] - In 2021, the company achieved a net profit of RMB 241.94 billion, an increase of RMB 25.54 billion, representing a growth of 11.8% compared to the previous year[50] Asset and Loan Growth - As of the end of 2021, Agricultural Bank of China's total assets reached RMB 29,069.155 billion, with total customer loans and advances amounting to RMB 17,175.073 billion and total deposits of RMB 21,907.127 billion[2] - Total assets reached RMB 29,069,155 million in 2021, up from RMB 27,205,047 million in 2020, representing a growth of 6.8%[10] - Customer loans and advances totaled RMB 21,907,127 million in 2021, an increase of 7.6% from RMB 20,372,901 million in 2020[11] - Total deposits reached RMB 17,175,073 million in 2021, a rise of 13.2% from RMB 15,170,442 million in 2020[14] - As of the end of 2021, the total assets of the company exceeded RMB 29 trillion, with a loan balance of RMB 17.2 trillion, an increase of RMB 2 trillion from the previous year[26] Risk Management and Credit Quality - The non-performing loan ratio improved to 1.40% in 2021 from 1.57% in 2020[13] - Provision coverage ratio increased to 299.73% in 2021, up from 266.20% in 2020, indicating stronger risk management[13] - The non-performing loan ratio improved to 1.43%, a decrease of 0.14 percentage points compared to the end of the previous year, with a provision coverage ratio of 299.73%, an increase of 33.53 percentage points[26] - The bank aims to enhance risk management and compliance, focusing on key areas such as large group clients and the real estate sector[16] Capital Adequacy and Financial Stability - The capital adequacy ratio stood at 17.13% as of the end of 2021, indicating a solid capital position[2] - The capital adequacy ratio improved to 17.13%, an increase of 54 basis points from the end of the previous year[34] - The bank's credit ratings are stable, with S&P rating at A/A-1, Moody's at A1/P-1, and Fitch at A/F1+[3] Digital Transformation and Innovation - The bank emphasizes digital operations and innovation in financial services to enhance customer experience and operational efficiency[2] - Ongoing research and development efforts focus on new financial technologies to improve customer experience and operational efficiency[9] - The digital transformation initiatives have shown phased results, further improving the company's digital operational capabilities[49] - The number of registered mobile banking customers exceeded 400 million, with monthly active users surpassing 150 million, leading the industry[30] Strategic Focus and Future Plans - The bank is focused on three major strategies: serving rural revitalization, supporting the real economy, and promoting green finance[2] - The bank plans to expand its market presence and enhance digital banking services in the upcoming year[9] - The bank's strategic plan for the "14th Five-Year Plan" period focuses on high-quality development and aims to improve comprehensive competitiveness[46] - The bank will continue to promote digital transformation and optimize business processes to enhance operational vitality[45] Subsidiaries and Market Presence - Agricultural Bank of China has been included in the list of global systemically important banks for eight consecutive years since 2014, highlighting its significance in the financial market[3] - The bank has 16 major subsidiaries, with 11 located domestically and 5 overseas, diversifying its business operations[2] - The bank operates a vast distribution network with 22,807 domestic branches and 13 overseas branches, enhancing its market presence[2] Green Finance and Social Responsibility - Green credit balance reached CNY 1.98 trillion, with a growth rate of 30.6% year-on-year, while green bond investments totaled CNY 88.3 billion, increasing by 35.0%[30] - The company has promoted the "惠农e贷" online loan service, with a balance of RMB 544.7 billion, growing by 54.1% and serving 3.68 million farmers[27] - The bank plans to strengthen financial support for rural revitalization, emphasizing credit investment in food security and rural construction[45] Employee and Operational Insights - As of the end of 2021, the total number of employees was 455,174, with 25.9% located in the western region of China[180][182] - The employee age structure shows that 30.7% are over 51 years old, while 19.3% are under 30[185] - The employee gender distribution is 55.1% male and 44.9% female[186]

Agricultural Bank of China, Limited (OTCPK:ACGBY) Q4 2021 Earnings Conference Call March 30, 2022 5:00 AM ET Company Participants Han Guoqiang - Secretary of the Board of Directors Zhang Qingsong - Vice Chairman, Executive Director and President Zhang Xuguang - Executive Director and Vice President Lin Li - Executive Director and Vice President Cui Yong - Vice President Xu Han - Vice President Zhang Yi - Vice President Wang Xinxin - Independent Director Conference Call Participants Zhang Shuaishuai - CICC W ...

Financial Performance - Total assets reached RMB 29,069.155 billion, with total loans and advances of RMB 17,175.073 billion and total deposits of RMB 21,907.127 billion[2] - Net profit for the year amounted to RMB 241.936 billion[2] - Total assets reached RMB 29,069,155 million in 2021, up from RMB 27,205,047 million in 2020[12] - Total loans and advances increased to RMB 17,175,073 million in 2021, compared to RMB 15,170,442 million in 2020[13] - Total deposits grew to RMB 21,907,127 million in 2021, up from RMB 20,372,901 million in 2020[14] - Net profit for 2021 was RMB 216,400 million, down from RMB 241,936 million in 2020[16] - Net interest margin stood at 2.20% in 2021, slightly lower than 2.23% in 2020[19] - Cost-to-income ratio improved to 29.23% in 2021 from 30.49% in 2020[20] - Non-performing loan ratio decreased to 1.40% in 2021, down from 1.43% in 2020[21] - Total assets increased to RMB 29,069,155 million in 2021, up from RMB 27,205,047 million in 2020[22] - Net profit attributable to parent company shareholders reached RMB 241,183 million in 2021, compared to RMB 215,925 million in 2020[22] - Non-performing loan ratio improved to 1.43% in 2021 from 1.57% in 2020[23] - Provision coverage ratio increased to 299.73% in 2021 from 266.20% in 2020[23] - Core tier 1 capital adequacy ratio rose to 11.44% in 2021 from 11.04% in 2020[23] - Net interest income grew to RMB 577,987 million in 2021 from RMB 545,079 million in 2020[22] - Total deposits increased to RMB 21,907,127 million in 2021, up from RMB 20,372,901 million in 2020[22] - Operating income reached RMB 719,915 million in 2021, compared to RMB 657,961 million in 2020[22] - Risk-weighted assets grew to RMB 17,849,566 million in 2021 from RMB 16,989,668 million in 2020[22] - Net cash flow from operating activities was RMB 239,615 million in 2021, a significant improvement from negative RMB 60,936 million in 2020[22] - Total assets reached 29.1 trillion yuan, a year-on-year increase of 6.9%[34] - Loan balance increased to 17.2 trillion yuan, up 13.2% year-on-year[34] - Customer deposits grew to 21.9 trillion yuan, an increase of 7.5% year-on-year[34] - Net profit rose to 241.9 billion yuan, up 11.8% year-on-year[34] - Non-performing loan ratio decreased to 1.43%, down 0.14 percentage points year-on-year[34] - Net profit in 2021 reached RMB 241.936 billion, an increase of RMB 25.536 billion, or 11.8%, compared to the previous year[50] - Interest income accounted for 80.29% of total operating income in 2021, with net interest income reaching RMB 577.987 billion, an increase of RMB 32.908 billion, or 6.0%, year-over-year[51] - Net interest margin (NIM) decreased by 8 basis points to 2.12%, and net interest spread declined by 8 basis points to 1.96% in 2021, primarily due to lower loan yields and higher deposit costs[51][52] - Total interest-earning assets averaged RMB 27.238 trillion in 2021, with an average yield of 3.70%, down 5 basis points from 2020[52] - Total interest-bearing liabilities averaged RMB 24.677 trillion in 2021, with an average cost of 1.74%, up 3 basis points from 2020[52] - Loans and advances averaged RMB 16.397 trillion in 2021, with an average yield of 4.23%, down 15 basis points from 2020[52] - Customer deposits averaged RMB 20.482 trillion in 2021, with an average cost of 1.61%, up 8 basis points from 2020[52] - Interest income from loans and advances increased by RMB 62.256 billion (9.9%) to RMB 694.009 billion, driven by an increase in the scale of loans and advances[55] - Bond investment interest income rose by RMB 13.809 billion to RMB 252.804 billion, primarily due to an increase in the scale of bond investments[58] - Interest expense increased by RMB 44.174 billion to RMB 430.027 billion, mainly due to a rise in the average balance of interest-bearing liabilities[59] - Net fee and commission income grew by RMB 5.784 billion (7.8%) to RMB 80.329 billion, with electronic banking revenue increasing by 16.5%[62][65] - Other non-interest income surged by RMB 23.262 billion to RMB 61.599 billion, driven by a RMB 23.637 billion increase in investment gains[66] - Business and management expenses increased by RMB 26.960 billion (14.0%) to RMB 219.308 billion, with employee compensation and benefits rising by 11.8%[67][68] - Credit impairment losses amounted to RMB 165.886 billion, with loan impairment losses increasing by RMB 30.011 billion to RMB 168.999 billion[68] - Income tax expense rose by RMB 5.294 billion (10.9%) to RMB 53.944 billion, with an effective tax rate of 18.23%[69] - Total revenue for 2021 reached RMB 719.915 billion, with personal banking contributing RMB 317.456 billion (44.1%) and corporate banking contributing RMB 268.929 billion (37.4%)[71] - The Yangtze River Delta region generated RMB 144.341 billion in revenue, accounting for 20.1% of total revenue, while the Western region contributed RMB 152.886 billion (21.2%)[74] - County-level financial business revenue increased to RMB 293.744 billion, representing 40.8% of total revenue, up from 39.6% in 2020[75] - Total assets grew by 6.9% to RMB 29,069.155 billion, with net loans and advances increasing by 13.1% to RMB 16,454.503 billion[76] - Corporate loans accounted for 53.5% of total loans, with medium and long-term corporate loans making up 71.5% of corporate lending[80] - The top five industries for corporate loans (transportation, manufacturing, leasing, utilities, and real estate) accounted for 75.6% of total corporate loans, a slight decrease of 0.2 percentage points from the previous year[82] - Personal loans grew by 14.8% to RMB 7,117.212 billion, with personal housing loans increasing by 12.4% and personal business loans surging by 23.5%[82] - Financial investments increased by 5.2% to RMB 8,230.043 billion, while cash and deposits with central banks decreased by 4.8% to RMB 2,321.406 billion[77] - Total loans increased to RMB 7,117,212 million in 2021, up from RMB 6,198,743 million in 2020, with personal housing loans accounting for 73.6% of the total[83] - Financial investments grew by 5.2% to RMB 8,230,043 million in 2021, driven by a RMB 4,264,010 million increase in non-restructured bond investments[85] - Non-restructured bond investments reached RMB 7,500,443 million, with government bonds making up 63.4% of the total[86] - Loans in the Yangtze River Delta region accounted for 23.8% of total loans, amounting to RMB 4,088,464 million in 2021[84] - Financial bonds held by the company totaled RMB 2,268,113 million, with policy bank bonds comprising RMB 1,557,354 million[91] - Loans with a remaining maturity of over 5 years increased to 45.2% of total non-restructured bond investments, up from 37.9% in 2020[88] - RMB-denominated non-restructured bond investments accounted for 95.9% of the total, amounting to RMB 7,190,104 million[89] - Loans in the western region represented 21.8% of total loans, totaling RMB 3,749,092 million in 2021[84] - Financial investments measured at amortized cost increased to RMB 6,249,598 million, representing 77.2% of total financial investments[90] - Policy bank bonds held by the company had an average annual interest rate of 3.52% to 4.39%, with maturities ranging from 2024 to 2031[92] - Total liabilities increased by 6.6% to RMB 26,647.796 billion, with customer deposits growing by 7.5% to RMB 21,907.127 billion[93] - Personal deposits accounted for 59.9% of total deposits, up 0.6 percentage points, while demand deposits decreased by 2.8 percentage points to 52.4%[94] - Deposits in the Yangtze River Delta region increased to RMB 5,228.107 billion, accounting for 24.2% of total deposits[96] - Deposits in the Pearl River Delta region reached RMB 3,023.021 billion, representing 14.0% of total deposits[96] - Deposits in the Bohai Rim region grew to RMB 3,787.784 billion, making up 17.5% of total deposits[96] - Deposits in the central region increased to RMB 3,676.925 billion, accounting for 17.0% of total deposits[96] - Deposits in the western region rose to RMB 4,569.603 billion, representing 21.2% of total deposits[97] - Total equity increased by 9.5% to RMB 2,421.359 billion, with undivided profits growing to RMB 925.955 billion, accounting for 38.2% of total equity[101] - The company's net stable funding ratio, liquidity coverage ratio, and net interest margin are detailed in relevant sections[99] - Total credit commitments amounted to RMB 2,088,305 million, with credit card commitments accounting for 35.6% (RMB 743,594 million)[103] - Domestic corporate deposits reached RMB 8,037.929 billion, an increase of RMB 419.338 billion from the previous year[106] - Corporate loans and bill discounts totaled RMB 9,592.361 billion, up by RMB 1,068.399 billion year-on-year[106] - The number of corporate banking clients with loan balances increased by 32,700 to 360,600[106] - Strategic emerging industries loan balance exceeded RMB 850 billion[107] - Private enterprise loan balance reached RMB 2,467.651 billion, an increase of RMB 436.238 billion[107] - Corporate internet high-frequency scenarios grew by 85.7% to 50,000[108] - Personal customer base reached 878 million, with personal housing loan balance increasing by RMB 580.169 billion to RMB 5.24 trillion[114][116] - Online consumer loan balance surpassed RMB 100 billion, and personal business loan balance exceeded RMB 400 billion[117] - Personal deposits reached 12,934.171 billion yuan, an increase of 1,008.131 billion yuan compared to the previous year, maintaining a leading position in the industry[118] - Debit card issuance totaled 1.125 billion cards, an increase of 26.9792 million cards compared to the previous year[119] - Credit card consumption amounted to 2,276.29 billion yuan for the year[119] - Private banking clients numbered 170,000, with managed assets totaling 1,846.5 billion yuan[121] - RMB financing transaction volume reached 53,038.597 billion yuan, with funds lent out amounting to 52,400.03 billion yuan and funds borrowed amounting to 6.38567 billion yuan[123] - Financial investments totaled 8,230.043 billion yuan, an increase of 407.384 billion yuan, a growth of 5.2% compared to the previous year[124] - The balance of wealth management products was 2,072.533 billion yuan, with the bank's own products accounting for 249.322 billion yuan and ABC Wealth Management products accounting for 1,823.211 billion yuan[126] - The balance of non-guaranteed wealth management products was 249.322 billion yuan, a decrease of 756.278 billion yuan compared to the previous year[126] - The scale of custody assets reached 12,454.663 billion yuan, an increase of 23.3% compared to the previous year, with pension custody scale reaching 941.572 billion yuan, an increase of 37.2%[133] - Custody and other entrusted business income amounted to 3.832 billion yuan[133] - Pension fund management scale reached 170.897 billion yuan, an increase of 53.374 billion yuan, up 45.4% year-on-year[134] - Gold trading volume reached 4,454.7 tons, and silver trading volume reached 51,980.01 tons in 2021[135] - Client foreign exchange trading volume reached 476.9 billion USD, up 21.3% year-on-year[136] - Bond Connect trading volume exceeded 600 billion yuan in 2021[137] - Insurance agency premiums reached 115.2 billion yuan, with a 11.0% year-on-year growth in regular premium business[138] - Fund sales reached 344.448 billion yuan, with 2,330 funds sold in 2021[139] - Monthly active users (MAU) of mobile banking exceeded 150 million by the end of 2021[142] - Overseas branches and subsidiaries' total assets reached 152.67 billion USD, with a net profit of 770 million USD in 2021[148] - Cross-border RMB business volume reached 2.11 trillion yuan in 2021[150] - Digital RMB pilot scenarios and merchant numbers ranked among the top in the industry[147] - Agricultural Bank of China (Luxembourg) Co., Ltd. had total assets of $47 million and net assets of $25 million, achieving a net profit of $1.39 million in 2021[151] - Agricultural Bank of China (Moscow) Co., Ltd. had total assets of $157 million and net assets of $112 million at the end of 2021[151] - ABC-CA Fund Management Co., Ltd. achieved a net profit of RMB 648 million in 2021, with total assets of RMB 4.438 billion and net assets of RMB 4.043 billion[153] - ABC-CA Fund Management Co., Ltd. had 66 public funds and 92 private fund products, with public fund assets under management reaching RMB 205.6 billion, a 54% increase in equity funds[153] - ABC International Holdings Limited achieved a net profit of HKD 1.023 billion in 2021, with total assets of HKD 46.075 billion and net assets of HKD 11.113 billion[154] - ABC Financial Leasing Co., Ltd. had total assets of RMB 76.742 billion and net assets of RMB 10.424 billion, achieving a net profit of RMB 464 million in 2021[156] - ABC Life Insurance Co., Ltd. achieved a net profit of RMB 884 million in 2021, with total assets of RMB 125.579 billion and net assets of RMB 8.735 billion[157] - ABC Financial Asset Investment Co., Ltd. achieved a net profit of RMB 2.805 billion in 2021, with total assets of RMB 120.185 billion and net assets of RMB 24.719 billion[158] - ABC Wealth Management Co., Ltd. achieved a net profit of RMB 1.721 billion in 2021, with total assets of RMB 15.238 billion and net assets of RMB 15.061 billion[159] - The company invested a total of RMB 20.532 billion in information technology in 2021[161] - The total data volume exceeded 19PB by the end of 2021, with the big data platform providing one-stop exclusive data services[162] - The cloud platform reached 11,000 physical nodes, with a cloudification rate of 88% and 100% self-service rate for development and testing resources[162] - The distributed core system handled 62% of the peak daily transaction volume[162] - The core system's average daily transaction volume reached 1.02 billion, a 22.0% year-on-year increase, with a peak daily transaction volume of 1.278 billion[165] - The core system's main business hours availability rate reached 99.99%[165] - The company reduced the number of basic software and hardware vulnerabilities by 58%, achieving 100% governance in service and channel domains[166] - The company had 455,174 employees by the end of 2021, with 726 in overseas branches and representative offices, and 8,945 in comprehensive subsidiaries and village banks[170] - The company's employee distribution showed 25.9% in the western region, 20.6% in the central region, and 14.2% in the Bohai Rim region[171] - The company's employee education structure included 55.2% with bachelor's degrees and 7.6% with master's degrees[172] - The company's employee age structure showed 30.7% aged 51 and above, 26.8% aged 41-50, and 23.2% aged 31-40[174] - The company has a total of 22,807 domestic branches as of the end of 2021, including 13 overseas branches and 4 overseas representative offices[176] - The Yangtze River Delta region accounts for 13.2% of the total domestic branches, with 3,010 branches[177

恭喜今天业绩发布会的管理层代表他们是中国农业银行副董事长执行董事行长张青松先生执行董事副行长张旭光先生执行董事副行长林立先生副行长崔永先生副行长徐翰先生 副行长张毅先生另外我们还邀请到独立董事王欣欣先生电话介入参加今天业绩发布会王董你好韩董你好大家好谢谢王董2021年面对复杂多变的境内外经济金融形势 农业银行认真贯彻落实党中央国务院决策部署坚定不移走高质量发展之路积极有效服务三农和实体经济做优做强民生金融服务加快重点领域改革和数字化转型步伐持续强化风险防控业务经营取得了理想成效向投资者交出了合格满意答卷 首先有请中国农业银行行长张青松先生介绍2021年我行经营业绩之后欢迎大家提问有请张行长谢谢韩董女士们先生们大家下午好热烈欢迎大家参加农行2021年度业绩发布会在此我已经代表农业银行 向长期以来给予我们关心和支持的各位新闻朋友投资者和分析师朋友致以诚挚的谢意2021年农业银行认真贯彻党中央国务院决策部署着力强化三农和实体经济金融服务持续深化体制机制改革 乘着应对各类风险挑战业务经营迈上一个新的台阶一是实现高质量发展规模质量效益同步提升截至2021年末资产总额29.1万亿元增速6.9%贷款总额17.2万亿元 增速 ...

Financial Performance - The total operating income for the third quarter was RMB 179,360 million, representing a year-on-year increase of 12.75%[7] - The net profit attributable to shareholders of the parent company reached RMB 64,431 million, up 14.04% compared to the same period last year[7] - The basic earnings per share for the quarter was RMB 0.16, reflecting a 6.67% increase year-on-year[7] - The company reported a year-to-date net profit of RMB 186,709 million, which is a 12.93% increase compared to the same period last year[7] - The group achieved a net profit of CNY 187.37 billion for the nine months ended September 30, 2021, representing a year-on-year increase of 12.93%[19] - The total operating income reached CNY 544.90 billion, a year-on-year growth of 9.36%[19] - The net profit attributable to shareholders of the parent company was RMB 186,709 million, representing a 12.9% increase from RMB 165,335 million in the previous year[39] - The bank's total comprehensive income for the period was RMB 192,857 million, an increase from RMB 156,732 million in the previous year[41] - For the nine months ended September 30, 2021, the total comprehensive income amounted to RMB 196,181 million, an increase of 28.2% compared to RMB 152,956 million for the same period in 2020[43] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 28,988,663 million, an increase of 6.56% from the previous year[7] - Total assets reached CNY 289,886.63 billion, an increase of CNY 17,836.16 billion or 6.56% from the end of the previous year[20] - The bank's total assets increased to RMB 29.5 trillion, a year-on-year growth of 8.5%[41] - The total liabilities reached CNY 266,615.13 billion, an increase of CNY 16,672.12 billion or 6.67% year-on-year[20] - The total liabilities were RMB 26,661,513 million as of September 30, 2021, compared to RMB 24,994,301 million as of December 31, 2020[38] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 485,761, including 21,561 H-share shareholders[12] - The top two shareholders, Central Huijin Investment Ltd. and the Ministry of Finance of the People's Republic of China, held 40.03% and 35.29% of shares, respectively[12] Cash Flow - The net cash flow from operating activities for the year-to-date was RMB 152,556 million, a significant improvement from a negative cash flow of RMB 289,805 million in the same period last year[10] - The net cash inflow from operating activities for the nine months ended September 30, 2021, was RMB 128,377 million, a significant improvement from a net outflow of RMB 128,692 million in the same period of 2020[44] - The cash inflow from investment activities totaled RMB 1,420,010 million, while cash outflow was RMB 1,544,529 million, resulting in a net cash flow of RMB (124,519) million for the nine months ended September 30, 2021[46] - The cash inflow from financing activities was RMB 1,321,385 million, an increase from RMB 1,261,700 million in the same period of 2020[46] Capital and Ratios - The return on equity (annualized) for the quarter was 12.74%, an increase of 0.62 percentage points compared to the previous year[7] - The annualized average return on total assets was 0.89%, up by 0.04 percentage points year-on-year[19] - The annualized weighted average return on equity was 12.17%, an increase of 0.36 percentage points year-on-year[19] - Core Tier 1 capital adequacy ratio stood at 11.18% as of September 30, 2021, compared to 11.04% at the end of the previous year[28] - The bank's leverage ratio was 7.46%, exceeding regulatory requirements[33] Loans and Advances - Total loans and advances amounted to CNY 169,115.40 billion, up CNY 17,410.98 billion or 11.48% year-on-year[20] - Non-performing loan balance was CNY 2,501.63 billion, increasing by CNY 130.50 billion, with a non-performing loan ratio of 1.48%, down 0.09 percentage points from the previous year[21] - Loans and advances in county-level financial business totaled CNY 61,003.46 billion, a growth of CNY 7,950.41 billion or 14.99%[22] Investment and Income - Net interest income was CNY 429.72 billion, reflecting a year-on-year increase of 5.86%[19] - Net commission and fee income was CNY 65.48 billion, growing by 6.53% year-on-year[19] - The bank's fee and commission income was RMB 79,229 million, up 8.5% from RMB 72,935 million in the same period last year[39] - The bank reported a significant increase in investment income, reaching RMB 20,984 million compared to RMB 570 million in the previous year[39] Digital Transformation - The bank plans to expand its digital banking services and enhance its technology infrastructure to improve customer experience and operational efficiency[41]