"One year low" achievement Agricultural Bank net earns 45.8 billion

Just picked up the "world's largest IPO" of the Agricultural Bank (601288.　　SH,01288.HK, hereinafter referred to as "ABC", unveiled its first performance statement last weekend.　　In the first half of the year, AgBank realized a net profit of 45.863 billion yuan, an increase of 40.2% per cent, while the bad implementation of "double drop", as at the end of June, the Agricultural bank non-performing loans balance of 107.086 billion yuan, a decline of 13.155 billion yuan, the bad rate of 2.32%, compared to the end of the last　　ABC's reserve coverage increased by 30.74% to 136.11% from the end of last year.　　A person close to the top of AgBank said AgBank's net interest rate was 2.47%, up 26 points higher than a year earlier, thanks to the cost advantage of the debt and the rise in the bargaining power of the loan.　　In the first half of the year, higher interest income and increased bargaining power, combined with lower debt costs, have achieved the highest net interest rate in AgBank's peers. The highest net interest rate of achievement in the first half of 2010, the net interest rate of AgBank was 2.47%, up 26 points from a year earlier, which is a higher level in the same trade.　　The net profit margin was 2.41%, up 28 basis points over a year earlier.　　Those close to the top of the bank believe that the highest net interest rate in the industry stems from AgBank's "one and a low". "Gao" refers to the higher interest income and the increase of the bargaining power of the loan. Half year report, the first half, ABC interest income of 111.708 billion yuan, an increase of 33.2%, accounting for the first half of the operating income of 82.3%.　　Among them, interest rate changes resulted in an increase in net interest income of 7.332 billion yuan, which led to an increase in net interest income of 20.48 billion yuan. These people believe that the increase in the bargaining power of the loan is due to the bank's continued adjustment of credit asset structure, higher yield of real loans accounted for a rise in the level of loan income gradually increased.　　For example, AgBank has a strong bargaining power in the county market with advantages, "three rural" financial business net profit margin is higher than the full line, the pre-tax profit was also increased by 81.9% over the same period last year. "Low" means lower liability costs. Semi-annual reports showed ABC's average coupon rate fell from 1.62% in the first half of 2009 to 1.28% in the first half of 2010. One reason, said the source, is that AgBank has an advantage in deposits and a relatively high demand account.　　Semi-annual data show that as of June 30, AgBank's current account accounted for 60.4%. Real estate loans under the control of "more" real estate credit, despite being listed as one of the three key areas of control, the real estate loan amount in the bank's corporate loans accounted for, still from the end of last year's 14.4% rose to the current 15.7%, the loan accounted for the largest increase in the three major industries.　　Real Estate Credit Scale is second only to manufacturing, electricity gas and water production and supply industry, ranked third. But at the same time, the real estate industry has become the first half of AgBank's non-performing loan balanceIndustry。　　The Half-year report showed that in the first half of 2010, the bank's real estate non-performing loans balance of 10.184 billion yuan, a decrease of 4.632 billion yuan from the end of last year, the non-performing rate fell 1.57%. As of June 30, 2010, the bank's personal housing loan balance increased by 28.9% from the end of last year, below the 29.3% growth rate of the whole bank loan business. ABC said in the announcement that in order to carry out the macro-control policy of the national Real estate, the bank continues to support residents ' first loans to buy ordinary home, while strengthening the management of two sets and above housing loans, strictly controlling the down payment ratio and mortgage rate, new personal housing loans to the Midwest and other stable areas of housing prices.