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ABC's profit up 16% in Q3

Oct. 29, 2012 (China Knowledge) - Agricultural Bank of China Ltd or ABC<601288><1288>, one of China's Big Four banks, has announced its net profit attributable to shareholders increase 16.12% YoY to RMB 39.58 billion in the third quarter of this year.

In the first nine month of this year, the Shanghai and Hong Kong listed company saw its net profit amount to RMB 120.08 billion, up 19.18% than in the same period of 2011.

From January to September, ABC saw its operation revenue amounted to RMB 316.22 billion, up 13.27% YoY.

Net interest income for the nine-month period grew 13.37% YoY to RMB 253.23 billion, while its brokerage income hit RMB 58.11 billion, reflecting a YoY increase of 5.99%.

As of Sep 30, 2012, ABC's capital adequacy ratio reached 12.07%, 0.13 percentage points higher than at the end of last year, while its core capital adequacy ratio was 9.76% at the end of last month, 0.26 percentage points higher than at Dec 31, 2011.

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