Agricultural Bank of China Limited (HKG: 1288)

Agricultural Bank of China Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,275,621	1,223,698	1,108,464	1,008,014	930,932	873,140
Interest Paid on Deposits	699,703	651,948	518,581	430,027	385,853	372,270
Net Interest Income	575,918	571,750	589,883	577,987	545,079	500,870
Net Interest Income Growth (YoY)	0.07%	-3.07%	2.06%	6.04%	8.83%	4.84%
Income From Trading Activities	10,274	23,124	5,519	14,241	16,405	19,067
Gain (Loss) on Sale of Assets	1,037	1,037	900	1,032	1,172	1,017
Gain (Loss) on Sale of Investments	30,684	17,802	6,069	15,046	-7,311	5,793
Other Non-Interest Income	84,566	81,755	92,912	113,440	103,987	102,603
Total Non-Interest Income	126,561	123,718	105,400	143,759	114,253	128,480
Non-Interest Income Growth (YoY)	8.73%	17.38%	-26.68%	25.83%	-11.07%	2.95%
Revenues Before Loan Losses	702,479	695,468	695,283	721,746	659,332	629,350
Provision for Loan Losses	137,177	135,707	145,266	165,886	164,699	138,605
Revenue	565,302	559,761	550,017	555,860	494,633	490,745
Revenue Growth (YoY)	0.83%	1.77%	-1.05%	12.38%	0.79%	5.33%
Salaries and Employee Benefits	151,615	151,615	145,603	137,938	123,340	124,206
Occupancy Expenses	21,621	21,621	20,745	19,797	19,551	18,711
Selling, General & Administrative	62,047	62,047	61,554	61,558	49,452	48,246
Other Non-Interest Expense	18,689	17,235	15,690	41,081	37,753	32,990
Total Non-Interest Expense	253,934	252,329	243,526	259,965	229,578	224,108
EBT Excluding Unusual Items	311,368	307,432	306,491	295,895	265,055	266,637
Pretax Income	311,355	307,419	306,453	295,880	265,050	266,576
Income Tax Expense	34,062	37,599	47,587	53,944	48,650	53,652
Earnings From Continuing Operations	277,293	269,820	258,866	241,936	216,400	212,924
Minority Interest in Earnings	-921	-464	366	-753	-475	-826
Net Income	276,372	269,356	259,232	241,183	215,925	212,098
Preferred Dividends & Other Adjustments	16,063	16,063	17,239	13,798	9,530	4,600
Net Income to Common	260,309	253,293	241,993	227,385	206,395	207,498
Net Income Growth	2.72%	3.91%	7.48%	11.70%	1.80%	4.59%
Basic Shares Outstanding	354,330	349,983	349,983	349,983	349,983	349,983
Diluted Shares Outstanding	354,330	349,983	349,983	349,983	349,983	349,983
Shares Change (YoY)	0.32%	-	-	-	-	3.72%
EPS (Basic)	0.73	0.72	0.69	0.65	0.59	0.59
EPS (Diluted)	0.73	0.72	0.69	0.65	0.59	0.59
EPS Growth	2.74%	4.35%	6.20%	10.17%	-0.05%	0.45%
Dividend Per Share	0.347	0.231	0.222	0.207	0.185	0.182
Dividend Growth	56.30%	3.92%	7.45%	11.72%	1.76%	4.60%
Effective Tax Rate	10.94%	12.23%	15.53%	18.23%	18.36%	20.13%

Source: S&P Capital IQ. Banks template. Financial Sources.