Agricultural Bank of China profit up 17.5 percent

Agricultural Bank of China" href="/financial/agricultural-bank-of-china.htm">Agricultural Bank of China reported that its net profit climbed up 17.5 percent in 2008. The net profit totaled 51.45 billion yuan ($7.5 billion), with revenue up nearly 18 percent to 211.2 billion yuan ($30.9 billion). This is the bank's first audited report after China's Cabinet approved the bank's shareholding transformation plan. The Agricultural Bank of China is last of four major state lenders to be restructured into shareholding companies for listing on China's stock exchanges.

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