Core Viewpoint - The core challenge facing the banking industry is the decline in net interest income amid falling asset yields and weak market demand, with Agricultural Bank of China (ABC) being the only major bank to report a positive growth in net interest income in 2024 [1][2][3]. Group 1: Financial Performance - In 2024, ABC's net interest income increased by 89.42 billion yuan to 580.7 billion yuan, marking a growth rate of 1.6%, while other major banks experienced declines [1][3][4]. - ABC's operating revenue and net profit growth rates were 2.3% and 4.8%, respectively, both leading among the four major banks [2][4]. - The bank's non-performing loan (NPL) ratio decreased by 3 basis points to 1.30%, the lowest among its peers [2][9]. Group 2: Loan Growth and Strategy - ABC's loan growth was driven by a significant increase in demand for credit, with total assets reaching 43.2 trillion yuan and a loan growth rate of 10.13%, the highest among the six major banks [5][6]. - The bank's focus on key sectors such as agriculture, strategic emerging industries, and green finance contributed to a loan growth rate exceeding 20% in these areas [7][13]. - ABC's personal loan balance reached 8.8 trillion yuan, with continuous growth in both volume and percentage, maintaining a leading position in the industry [14][15]. Group 3: Risk Management - ABC has successfully reduced its NPL ratio in corporate loans to 1.58%, continuing a four-year downward trend [11]. - The bank's proactive risk management strategies include targeted measures for real estate and local government debt, ensuring a balanced approach to growth and risk [10][11]. - The bank's provision coverage ratio stands at 299.61%, indicating strong risk mitigation capabilities [12]. Group 4: Customer Base and Market Position - ABC has over 880 million personal customers, leading the industry, with personal deposits totaling 18.7 trillion yuan, reflecting robust customer engagement [14][15]. - The bank's alignment with national policies to boost domestic demand and support the private sector has positioned it as a key player in the financial landscape [13][16]. - ABC aims to enhance its service capabilities and maintain its leading position in providing loans to private enterprises and inclusive finance [16].