AgBank's first-half profit is expected to increase 40% over 46 billion

Securities Times reporter Jia Gong the Agricultural Bank of Agriculture today released a summary of the 2009 Annual report, as at the end of 2009, the total assets of the Agricultural Bank of 8.88 trillion yuan, various deposits of 7.5 trillion yuan, various loans of 4.14 trillion yuan, capital adequacy ratio of 10.07%, non-performing loan rate of 2.91%,　　Achieve a net profit of 65.002 billion yuan a year. It is also understood that agricultural Bank of the first half of the year the business growth situation exceeded expectations, the first half to achieve net profit is expected to exceed 46 billion yuan, an increase of about 40%. Agricultural Bank of the first half of the savings deposit increase close to 440 billion yuan, the top four rows.　　The increase in public deposits is only lower than ICBC, ranked second. AgBank had previously applied to the CBRC and was allowed to delay the disclosure of the 2009 Annual report, as AgBank was in the market for initial public offerings inside and outside the country to ensure consistency with the disclosure of the 2009 Annual report and the IPO prospectus.　　The release of the 2009 annual report adds to the disclosure of information that occurred after the first Board's tenth meeting and that agbank deemed it necessary to disclose important matters. In 2009, AgBank realized a net profit of 65.002 billion yuan, an increase of 13.549 billion yuan and a growth of 26.3%, which included three factors: first, the net increase in fees and commissions and other non-interest income increases;　　But partly offset by a decrease in net interest income and an increase in income tax costs. ABC last year achieved 35.64 billion yuan in fees and commissions net income, an increase of 11.842 billion yuan to 49.8%. Fees and commissions net income accounted for 16% of revenues, up 4.77% from the previous year. Fee and commission net income rapid growth is mainly due to: Agricultural Bank to play the network and customer base, and constantly improve the intermediary business products and services, increase marketing efforts; active research and development and marketing of new products and services such as consultancy and consultancy, electronic banking, etc.　　In 2009, the agency of the Ministry of Finance to dispose of the commission of Non-performing assets generated by the handling fee income, resulting in a substantial increase in agency business fees. 2009, Agricultural Bank to play a network, systems, products and professional advantages, and further strengthen the county area of business and customer infiltration, three rural finance business has achieved a faster growth. As of December 31, 2009, the total assets of the three agricultural and financial operations were 3.235 trillion yuan, up 19.1% from the end of last year.