Aug
28
Agricultural Bank Grinds Out 0.5% Profit Gain as Bad Loans Climb
By-
Bad-loan coverage ratio drops to lowest since late 2010
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Capital-adequacy ratio declined to 12.81% in second quarter
Agricultural Bank of China Ltd., the nation’s third-largest lender by assets, posted a 0.5 percent profit gain in the second quarter as bad loans climbed.
Net income rose to 50.46 billion yuan ($7.6 billion) in the three months through June, according to a statement released by the Beijing-based bank on Friday. That compared with the 50.1 billion-yuan median estimate of four analysts in a Bloomberg survey.
The bank pared back its bad-loan buffer, setting aside 18.6 billion yuan in provisions, down 3 percent from a year earlier…
Agricultural Bank Grinds Out 0.5% Profit Gain as Bad Loans Climb
