BEIJING (Reuters) – Agricultural Bank of China (AgBank), the country’s third-largest lender by assets, on Monday posted 12.4% growth in first-half profits, the fastest first-half growth since 2014 as the economy recovers from the COVID-19 pandemic.
AgBank said net profit for the first six months of the year totalled 122.3 billion yuan, versus 108.8 billion yuan a year earlier.
That implied a second quarter net profit of 56.4 billion yuan, up 26.4% versus a year earlier, Reuters calculations show.
(Reporting by Cheng Leng, Zhang Yan and Engen Tham; Editing by Toby Chopra)
