Summary by Moomoo AI
The Agricultural Bank of China (ABC) has published its unaudited financial report for the first quarter of 2024. The report showed that as of 31 March 2024, the Group achieved a net profit of R$708.39 billion, down 1.77% from the same period last year. Basic earnings per share were $0.19, down 5% year-on-year. Total assets reached $421,572.79 billion, an increase of 5.73% year-on-year. The bad loan rate was 1.32%, down 0.01 percentage point from the end of the previous year. In addition, the Treasury Company increased its holding of Bank A shares by approximately 0.11% from October 11, 2023 to April 10, 2024. On 11 March 2024, the Bank issued a cash dividend to the shareholders of Agricultural Advantage 2, with a preference dividend of RMB4.84 per share. The Bank issued RMB400 billion of reduced-term non-fixed-term capital bonds on the national interbank bond market and issued RMB700 billion and RMB600 billion Tier II capital bonds in February and April, respectively. At the same time, the Bank also redeemed RMB 500 billion and RMB 400 billion Tier 2 capital bonds.