Gelonghui, April 29: Agricultural Bank (01288.HK) released its report for the first quarter of 2024, achieving operating income of 186.147 billion yuan, a year-on-year decrease of 1.70%; net profit attributable to shareholders of the parent company of 70,386 billion yuan, a year-on-year decrease of 1.63%; and basic earnings per share of 0.19 yuan.
For the three months ended March 31, 2024, the Group achieved revenue of 186.147 billion yuan, a year-on-year decrease of 1.70%. Net interest income was $144.535 billion, a year-on-year decrease of 0.74%. The net interest yield was 1.44%. Net revenue from handling fees and commissions was $29.037 billion, a year-on-year decrease of 10.79%. Operating expenses were 51,075 billion yuan, up 2.31% year on year; cost to revenue ratio (China Accounting Standards) was 25.38%, up 0.86 percentage points year on year. Credit impairment losses amounted to $55.611 billion, a year-on-year decrease of 902 million yuan.