Di Yi Cai Jing·2025-08-29 15:45Core Viewpoint - The article discusses the pressure on net interest margins faced by major state-owned banks in China, highlighting the performance of Agricultural Bank of China and its strategies to mitigate this pressure [2][3]. Group 1: Financial Performance - Agricultural Bank of China reported a net interest margin of 1.32% and a net profit margin of 1.20% for the first half of the year, with year-on-year declines of 13 basis points and 10 basis points, respectively, indicating a narrowing decline compared to previous periods [2]. - The bank's operating income for the first half of the year was 369.8 billion yuan, a year-on-year increase of 0.72%, while net profit reached 139.9 billion yuan, growing by 2.53% year-on-year [3]. - As of the end of the reporting period, the bank's total assets amounted to 46.9 trillion yuan, maintaining its position as the second-largest among major banks [4]. Group 2: Factors Influencing Net Interest Margin - The decline in net interest margin is attributed to the bank's support for the real economy and the reduction in the Loan Prime Rate (LPR), which has led to a decrease in the yield on interest-earning assets [2]. - The bank's management indicated that the narrowing decline in net interest margin is due to the growth and optimization of interest-earning asset structure, which has helped maintain competitive loan rates [3]. - The bank expects to stabilize its net interest margin in the second half of the year, driven by continued cost reduction on liabilities and the market-driven adjustment of deposit rates [3]. Group 3: Loan and Deposit Growth - Agricultural Bank of China reported a total loan balance of 26.73 trillion yuan, with a growth rate of 7.3%, including personal loans of 9.31 trillion yuan and corporate loans of 15.44 trillion yuan [4]. - The bank's ability to manage customer segmentation has improved, leading to a greater accumulation of low-cost funds, which has contributed to a decrease in overall funding costs [3].