ABC (Agricultural Bank of China Limited) reported unaudited interim results for the six months to 30 June 2026, highlighting solid top-line growth and resilient capital buffers.
Operating income rose 11.2% year on year to RMB 411.12 billion, driven by a 10.5% increase in net interest income to RMB 312.24 billion and a 44.7% jump in other non-interest income to RMB 51.92 billion. Net profit advanced 5.8% to RMB 148.06 billion, with net profit attributable to equity holders at RMB 146.38 billion. The annualised return on average assets stood at 0.59%, while return on weighted average equity was 10.14%.
Net interest margin narrowed by 4 basis points to 1.28%, reflecting a decline in asset yields partially offset by lower funding costs. Net fee and commission income fell 8.7% to RMB 46.96 billion due to a high prior-year base that included one-off gains from outstanding wealth-management products; excluding this impact, fee income registered growth.
ABC’s balance sheet expanded 4.7% from year-end to RMB 51.06 trillion. Loans and advances increased 6.2% to RMB 28.82 trillion, while deposits grew 4.3% to RMB 34.05 trillion. Debt securities investments rose 9.4% to RMB 17.85 trillion, reflecting continued allocation to government and policy bank bonds.
Asset quality remained stable: the non-performing loan (NPL) ratio declined 2 basis points to 1.25%, with allowance coverage at 290.10%. Stage-three (credit-impaired) loan allowance coverage reached 350.76% in county areas, underscoring ABC’s conservative provisioning.
Capitalisation was solid; the Common Equity Tier 1 ratio stood at 10.80%, Tier 1 ratio at 12.59%, and the overall capital adequacy ratio at 17.50%. The average liquidity coverage ratio for the second quarter was 129.72%, above regulatory minima.
ABC’s county banking franchise remained pivotal: loans in county areas rose 9.0% to RMB 11.92 trillion, representing 41.9% of domestic lending. Green loans reached RMB 6.53 trillion, up 10.4%. Inclusive finance loans expanded 12.2% to RMB 4.88 trillion, and private-enterprise lending increased RMB 636.30 billion to RMB 8.20 trillion.
Digital engagement continued to deepen, with mobile banking monthly active users exceeding 282 million. At mid-year, ABC served 905 million retail customers with assets under management of RMB 25.70 trillion.
The board proposed an interim cash dividend of RMB 0.1297 per share, totaling RMB 45.39 billion and representing 31.0% of first-half net profit attributable to ordinary shareholders. The payment remains subject to shareholder approval.
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