ABC's 2017 Results Were Boosted by NIM Expansion and Stabilizing Asset Quality
With 6.1% and 4.9% growth from 2016 in total revenue and net profit, respectively, narrow-moat Agricultural Bank of China's 2017 results were in line with our expectation. The results reflected accelerating quarter-on-quarter net profit growth in the past year, driven by expanding net interest margin, or NIM, and improving operating efficiency. We are pleased to see continuous improvement in credit quality, and the company has stepped up efforts to dispose of bad debts in response to the regulat...
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