2019-03-29 16:00Financial Performance - The bank achieved a net profit of RMB 202.631 billion for the year 2018, reflecting its strong financial performance[1]. - Net profit for 2018 was RMB 202,631 million, a 4.3% increase from RMB 193,133 million in 2017[26]. - The bank achieved a net profit of RMB 202.63 billion in 2018, an increase of 4.9% compared to the previous year[51]. - Total operating income reached RMB 598.59 billion, reflecting an 11.5% growth year-on-year[52]. - The bank's net interest income was RMB 477.76 billion, up 8.1% from RMB 441.93 billion in 2017[52]. - Fee and commission income increased to RMB 78.14 billion, a growth of 7.2% compared to RMB 72.90 billion in 2017[52]. - The bank's cost-to-income ratio was 31.27%, down 1.69 percentage points from the previous year, marking two consecutive years of decline[47]. Assets and Liabilities - As of the end of 2018, the total assets of Agricultural Bank of China amounted to RMB 22,609.471 billion, with loans and advances issued totaling RMB 11,940.685 billion and deposits absorbed reaching RMB 17,346.290 billion[1]. - Total assets reached RMB 22,609,471 million as of December 31, 2018, up from RMB 21,053,382 million in 2017, representing an increase of 7.4%[26]. - The bank's total liabilities were RMB 20,934,684 million at the end of 2018, an increase from RMB 19,623,985 million in 2017[26]. - The bank's total equity amounted to RMB 1,674.79 billion, with a net asset value per share of RMB 4.54, an increase of RMB 0.39 from the previous year[109]. Capital and Ratios - The capital adequacy ratio stood at 15.12%, indicating a solid capital position[1]. - The bank's core tier 1 capital net amount was RMB 1,583,927 million as of December 31, 2018, up from RMB 1,339,953 million in 2017[26]. - The bank's liquidity ratio was 101.77%, well above the regulatory standard of 25%[28]. - The non-performing loan ratio was 1.81% in 2018, a slight decrease from 1.59% in 2017[21]. - The bank's provision coverage ratio improved to 252.18%, an increase of 43.81 percentage points year-on-year[48]. Branch Network and Market Presence - The bank operates a vast network with 23,381 domestic branches and 13 overseas branches, enhancing its market presence[2]. - Agricultural Bank of China ranked 40th in the Fortune Global 500 and 4th in the Banker Magazine's Global Banking 1000 based on Tier 1 capital[2]. - The bank has been included in the list of global systemically important banks for five consecutive years since 2014, highlighting its significance in the global financial system[2]. Risk Management - The bank emphasizes risk management and internal control measures to mitigate potential operational risks[5]. - The company will focus on risk prevention and maintaining the quality of credit assets while enhancing service capabilities[42]. Digital Transformation and Innovation - The company plans to fully advance digital transformation, establishing a new competitive advantage in the digital banking space[35]. - The company will implement a digital transformation strategy driven by financial technology and business innovation, focusing on comprehensive digitalization across various operations[42]. - The company launched a new generation of smart mobile banking, featuring voice transfer, intelligent registration, and online account opening capabilities[160]. - The AI platform "Financial Brain" was successfully put into production, providing biometric recognition capabilities such as facial and voice recognition[160]. Rural Finance and Poverty Alleviation - The bank aims to enhance financial services for rural revitalization and poverty alleviation[31]. - The bank's financial services in rural areas have been enhanced through the integration of mobile internet, blockchain, and big data technologies[196]. - A total of 373.9 billion yuan in loans was disbursed in 832 key poverty alleviation counties, with a year-end loan balance of 923.9 billion yuan, an increase of 108.8 billion yuan, representing a growth rate of 13.3%[199]. - Cumulative precision poverty alleviation loans reached 173.8 billion yuan, benefiting 2.71 million registered poor individuals, with a year-end balance of 341.5 billion yuan, an increase of 53.8 billion yuan, representing an 18.7% growth[200]. Financial Products and Services - The bank's credit card issuance surpassed 100 million cards, and active users of its mobile banking platform exceeded 100 million[45]. - The bank's mobile banking monthly active users grew by 63% year-on-year, enhancing customer engagement[143]. - The bank's payment merchants reached 38,945, a growth of 285% year-on-year, with total transaction volume reaching CNY 85.9 billion, up 237.3%[143]. - The bank's wealth management product balance reached CNY 1,660.125 billion, with personal wealth management products accounting for CNY 1,375.364 billion (82.8%) and corporate wealth management products at CNY 284.761 billion (17.2%)[133]. International Operations - The bank operates 13 overseas branches and 4 representative offices in key global financial centers[174]. - The bank's overseas branches and holding institutions had total assets of $132.97 billion by the end of 2018, generating a net profit of $660 million for the year[153].