Mar. 23, 2012 (China Knowledge) - Agricultural Bank of China Ltd or ABC<601288
>, one of the Big-Four state-owned banks in the country, announced yesterday that its net profit rose 28.5% year on year to RMB 121.93 billion last year.
Basic earnings per share were RMB 0.38 in 2011, up from RMB 0.33 in 2010. The bank proposed a final dividend of RMB 0.13 per share or RMB 42.71 billion in total, according to its annual report.
Operating revenue rose 29.9% year on year to RMB 379.76 billion in 2011. Net interest income grew 26.9% to RMB 307.20 billion in the period as net interest margin increased by 23 basis points to 2.73% in the year.
Net fee and commission income saw a 49.0% year-on-year surge in 2011, hitting RMB 68.75 billion.
As of the end of last year, the bank's capital adequacy ratio had risen to 11.94% from 11.59% a year earlier, while its core capital adequacy ratio had fallen 0.25 percentage points from a year ago to 9.50%.
ABC had total assets of RMB 11.68 trillion at the end of 2011, up 13% year on year. The bank's balance of customer deposits had grown 8.3% year on year to RMB 9.62 trillion at the end of last year, and its balance of customer loans and advances had increased 13.6% year on year to RMB 5.63 trillion.