ADBC reports 2.59b yuan H1 operating profits

(chinadaily.com.cn)
Updated: 2009-08-06 10:51

The Agricultural Development Bank of China (ADBC) has reported operating profits of 2.59 billion yuan ($379.19 million) in the first half of this year, the Shanghai Securities News reported today, without giving a comparative figure of the same period last year.

The policy bank under the State Council realized 28.76 billion yuan in revenue in the first half of 2009, 2.21 billion yuan more than that of the same period last year.

It raised 149.3 billion yuan through financial bonds in the first half, accounting for 46.6 percent of the total financial bonds issued by policy banks.

During the same period, the bank took back 1.11 billion yuan of non-performing loans and its daily balance held on deposits grew to 413.03 billion yuan, up 167.66 billion yuan, or 68.3 percent from the same period last year.

ADBC's net profits came to 1.63 billion yuan last year, up 10.6 percent from 2007, and its operating profits exceeded 20 billion yuan, according to its 2008 annual report.