Financial Performance - For the fiscal year 2024, Agricultural Bank of China achieved a net profit of RMB 282.671 billion[5]. - Net profit for 2024 is projected to be RMB 30,305,357 million, an increase from RMB 28,898,468 million in 2023, indicating a growth of about 4.5%[17]. - Net profit attributable to shareholders was RMB 282,083 million in 2024, compared to RMB 269,356 million in 2023, reflecting a growth of 4.7%[25]. - In 2024, the company achieved a net profit of 282.7 billion yuan, representing a year-on-year growth of 4.8%[29]. - The bank's operating income for 2024 was RMB 711,416 million, a marginal increase from RMB 695,468 million in 2023[25]. - The total operating income reached 711.4 billion yuan, with a year-on-year increase of 2.3%, and net interest income was 580.7 billion yuan, up by 1.6%[29]. - The bank's total operating income for the year was RMB 920.4 billion, representing a 64.1% share of total income[106]. - The bank's operating income for 2024 was CNY 711.42 billion, reflecting a growth of CNY 15.95 billion or 2.3% from the previous year[54]. Asset and Loan Growth - As of the end of 2024, the total assets of Agricultural Bank of China amounted to RMB 43,238.135 billion, with total customer loans and advances reaching RMB 24,906.187 billion[5]. - Total assets reached RMB 43,238,135 million in 2024, up from RMB 39,872,989 million in 2023, representing a growth of approximately 9.1%[16]. - The total amount of customer loans and advances is expected to rise to RMB 24,906,187 million in 2024, compared to RMB 22,614,621 million in 2023, reflecting an increase of approximately 10.1%[20]. - Customer loans and advances reached RMB 24,906,187 million, a rise of 10.1% from RMB 22,614,621 million in 2023[24]. - The balance of loans in rural areas reached 9.85 trillion yuan, with loans related to food security exceeding 1 trillion yuan[31]. - The balance of personal loans was 8.81 trillion yuan, with an annual increase of 754.3 billion yuan, leading the industry in both growth and increment[31]. - The balance of loans to private enterprises reached 6.53 trillion yuan, with an annual increase of 1.08 trillion yuan, serving 7.46 million borrowers[31]. - The balance of inclusive finance loans reached CNY 4.66 trillion, growing by 30.1% year-on-year, while loans to inclusive small and micro enterprises amounted to CNY 3.23 trillion, up 31.3%[49]. Capital and Asset Quality - The bank's total deposits stood at RMB 30,305.357 billion, resulting in a capital adequacy ratio of 18.19%[5]. - The capital adequacy ratio is expected to remain stable at 17.13% in 2024, slightly down from 17.14% in 2023, ensuring compliance with regulatory requirements[22]. - The non-performing loan ratio is projected to decrease to 1.30% in 2024, down from 1.33% in 2023, indicating improved asset quality[19]. - The non-performing loan ratio improved to 1.30% in 2024 from 1.33% in 2023, indicating enhanced asset quality[26]. - The capital adequacy ratio stood at 18.19% in 2024, up from 17.14% in 2023, demonstrating a stronger capital position[26]. - The credit impairment losses decreased by 3.6% to CNY 130.84 billion, indicating improved asset quality[54]. Strategic Focus and Initiatives - The bank emphasizes its role as a leading bank in serving rural revitalization and the real economy[5]. - The bank's strategic focus includes inclusive finance, green finance, and digital operations[5]. - The bank aims to enhance its green finance initiatives, focusing on projects related to environmental improvement and resource efficiency[12]. - The bank plans to expand its market presence through strategic partnerships and potential acquisitions in key regions[12]. - The bank aims to enhance financial support for rural areas and agriculture, ensuring a steady increase in the proportion of loans allocated to these sectors[44]. - The bank is committed to deepening reforms and innovations in key areas, focusing on technology finance and green finance to support high-quality development[45]. - The bank aims to provide over CNY 410 billion in financing for green industries and clients in 2024, focusing on clean energy and pollution prevention[176]. Technology and Digital Transformation - The bank's strategy includes leveraging technology to improve service delivery and operational efficiency across its branches[12]. - The company achieved a loan balance of 4.66 trillion yuan in inclusive finance, ranking first among peers[31]. - The bank plans to deepen digital transformation and improve customer service experience through technology and data-driven operations[38]. - The monthly active users (MAU) of the mobile banking app reached over 250 million by the end of 2024, an increase of 37.21 million users from the previous year[178]. - The bank's rural version of the mobile banking app had over 48 million monthly active users by the end of 2024[180]. Customer Service and Consumer Rights - The bank handled a total of 279,000 consumer complaints in 2024, with a 100% resolution rate[191]. - The bank's consumer rights protection initiatives included 20,600 educational activities reaching over 2.2 billion consumers in 2024[191]. - The bank has established a consumer rights protection management mechanism, ensuring fair treatment of consumers throughout business operations[188]. International Operations and Cross-Border Services - Agricultural Bank of China (Luxembourg) achieved total assets of 710,000 for the year 2024[185]. - Cross-border financial services related to the Belt and Road Initiative amounted to 244.8 billion[186]. - The bank's cross-border RMB settlement volume reached 3.51 trillion yuan in 2024, with a 6% increase in direct investment-related settlements[186]. - Agricultural Bank of China (Moscow) reported total assets of 14.99 million for the year 2024[187]. Awards and Recognition - The bank has been recognized with multiple awards for its green banking initiatives, including the "Advanced Unit in Green Banking Evaluation" by the China Banking Association in 2024[176].
农业银行(01288) - 2024 - 年度业绩