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]
农业银行(01288) - 2021 - 年度财报