Agricultural Bank of China (1288) Q1 2025 earnings summary

Executive summary

• Net profit for Q1 2025 reached RMB72,116 million, up 1.80% year-over-year; annualized ROA was 0.66% and ROE was 10.82%, both slightly down from last year.

• Operating income grew 0.32% year-over-year to RMB186,735 million; basic EPS remained at RMB0.19.

• Total assets increased 3.66% from year-end 2024 to RMB44,818,957 million; total loans and advances rose 5.14%.

Financial highlights

• Net interest income declined 2.74% year-over-year to RMB140,577 million; net interest margin was 1.34%.

• Net fee and commission income fell 3.54% to RMB28,009 million.

• Operating expenses rose 1.99% to RMB52,091 million; cost-to-income ratio increased to 25.58%.

• Credit impairment losses increased by RMB1,449 million to RMB57,060 million.

• Net cash used in operating activities was RMB768,830 million, a sharp reversal from RMB783,563 million generated last year, mainly due to a decrease in net increase in deposits.

Outlook and guidance

• No forward-looking guidance or projections were provided in the report.