China’s AgBank posts 1.63% fall in Q1 profit

BEIJING/SHANGHAI (Reuters) – Agricultural Bank of China Ltd (AgBank) reported a 1.63% fall in first-quarter net profit on Monday.

Net profit for the three months ended March totalled 70.39 billion yuan ($9.71 billion), compared with 71.55 billion yuan in the same period 2023, AgBank said in a filing.

($1 = 7.2461 Chinese yuan renminbi)

(Reporting by Ziyi Tang and Engen Tham, Editing by Louise Heavens)