Agricultural Bank of China Posts Rise In 2014 Net Profit

Agricultural Bank of China Ltd. ACGBY reported an 8% gain in its 2014 net profit. Agricultural Bank of China's net profit for the year surged to 179.46 billion yuan ($28.9 billion), compared to a year-ago profit of 166.32 billion yuan. Its net interest income gained 14% to 429.89 billion yuan, while net fee and commission income slipped 4% to 80.12 billion yuan. The company's fourth-quarter net profit dropped to 27 billion yuan ($4.35 billion), versus analysts' expectations of 29 billion yuan. Agricultural Bank of China shares fell 0.90% to close at $12.17 yesterday.