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研报掘金丨海通证券：农业银行23年业绩增速显韧劲，维持“优于大市”评级

Research Report Nuggets丨Haitong Securities: Agricultural Bank's 23-year performance growth rate has been strong, maintaining a “superior to the market” rating

Gelonghui Finance ·  Apr 7 01:42

According to the Haitong Securities Research Report, Agricultural Bank (601288.SH) maintained positive revenue growth in 23 years, showed strong performance growth, continued growth in business scale, continued to optimize its asset structure, stable asset quality, and maintained a “superior to the market” rating, giving it a reasonable value range of 5.17-5.81 yuan. In 2023, revenue was +0.03% year-on-year, and net profit to mother was +3.9% year-on-year; the year-on-year revenue growth rate increased 0.6 pct from 23Q1-3. Among them, the deposit balance of individual customers was 17.11 trillion yuan, an increase of more than 2 trillion yuan, maintaining the highest balance and increase in the industry. The deposit balance for public customers was 10.48 trillion yuan, adding 1.44 trillion yuan. The increase and growth rate were leading among comparable peers. The provision coverage rate was -0.25pct to 303.87% month-on-month, leading the industry and showing good risk resilience.

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