Agricultural Bank Of Chin (ACGBF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good afternoon. Welcome to the annual results announcement of ABC. It's a great honor to meet our online, on-site, international, domestic investors, analysts, and media friends. With that, I'd like to express my appreciation to your active participation, and my thanks go to your long-term support and interest in the development of ABC. Thank you. Today we are with us Mr. Wang Zhi, Mr. Lin Li, Vice President of ABC, Vice President of ABC Liu Hong, and Vice President of ABC, Mr. Wang Wenjing, and Vice President of ABC, Meng Fanjun, and Mr. Liu Jin, Board Secretary of ABC, and some other directors are joining us online. I'd like to present some of the basic facts, three aspects. The first one is operation results. In 2024, ABC implemented the strategies from the government and provide support to the agricultural development as well as every economy, optimize our management strategies, major operating indicators are performing good. First, the growth rate in the first half of 2024, turning from negative to positive, and in the second half of 2024, we'll continue to optimize the total net profit, $220 2.7 or 4.8 percent and operating income, 711.4 billion or 2.3 percent, interest income, 580.7 billion, 1.6 percent. And the second, newly growth loan, 2.29 trillion or 10.13%. The growth of corporate and individual loans or personal loans are leading our peers and also the Individual loan, or the discrepancy, is 0.42%, and also leading among the peers. As the quality was sound, NPL ratio, 1.3%, down by three bits from the year end of last year. Special mention loan ratio, 1.4%, down by two basis points. And overdue loan ratio, 1.18%. And the ratio of overdue loan to NPL, 98.98%. And provision coverage ratio 299% and remain well capitalized and risk res...