Guan Cha Zhe Wang·2025-09-04 09:11Core Viewpoint - On September 4, Agricultural Bank of China (ABC) briefly surpassed Industrial and Commercial Bank of China (ICBC) in total market capitalization, reaching approximately 2.45 trillion yuan, marking a significant recognition of its stable operational strategy and focus on rural financial services [1][12]. Market Performance - On the same day, ABC's stock price surged over 5%, hitting a historical high of 7.55 yuan per share, reflecting strong market performance [2]. - As of the latest update, ABC's A-shares were priced at 7.52 yuan, with a total market capitalization of about 2.63 trillion yuan, while ICBC's A-shares were at 7.54 yuan, with a market cap of approximately 2.69 trillion yuan [3][4][5]. Financial Metrics - ABC's total share capital is approximately 350 billion shares, with A-shares accounting for about 91.22% of its total capital structure, which enhances the impact of A-share price movements on its market capitalization [5]. - Year-to-date, ABC's A-shares have increased by over 44%, significantly outperforming ICBC's A-share growth of 13% [5]. Strategic Focus - ABC's market capitalization growth is attributed to its long-term commitment to serving the rural economy, with county-level loans reaching 10.77 trillion yuan, representing 40.9% of domestic loan balances [6]. - The "Huinong e-loan" product, designed for farmers, has a balance of 1.79 trillion yuan, with a growth rate of 19.9%, enhancing accessibility to rural financial services [6]. Loan Growth in Key Areas - Loans related to food security and essential agricultural products reached 1.24 trillion yuan, with a growth rate of 23.7% [8]. - Financing for rural industries and construction has also seen significant growth, with loan balances of 2.70 trillion yuan and 2.44 trillion yuan, respectively, both exceeding the average growth rate of the bank's loans [8]. Performance Metrics - For the first half of the year, ABC reported a net profit of 139.51 billion yuan, a year-on-year increase of 2.66%, and operating income of 369.94 billion yuan, up 0.85% [9]. - In contrast, ICBC's net profit decreased by 1.39% to 168.10 billion yuan, despite a revenue increase of 1.6% [9]. Future Outlook - The capital market's recognition of ABC is based on its sustainable growth potential stemming from its commitment to rural service strategies, which are expected to yield greater returns as national policies continue to emphasize rural development [13].