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Agricultural Bank Gains Record High Profits

The Agricultural Bank of China has generated a record high profit of 21.825 billion yuan (about US$2.64 billion) in the first six months of the year, up 36. 43 percent year-on-year.

Thanks to an expedited internal reform, the bank's non-performing loans dwindled by 1.44 percent, equaling 2.335 billion yuan (about US$282.35 million), from January to June, while its profit margin grew by 0.2 percentage points, according to Monday's China Securities Journal.

The bank also saw a steady increase in its deposits, which presently totals 345.201 billion yuan (about US$41.74 billion), about 21.244 billion yuan (about US$2.57 billion) more than in the same period last year.

(Xinhua News Agency July 18, 2005)

Agricultural Bank Audited for Listing Preparation
ABC Looks to Cut Bad Loans
Agricultural Bank of China Records 63% Profit Rise
Capital Injections, Restructuring Discussed for Banks
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