Agricultural Bank of China reports higher profit in 2017

BEIJING - The Agricultural Bank of China, one of the country's "big four" lenders, reported higher profit in 2017.

The net profits of the Agricultural Bank of China hit 193.13 billion yuan (about $30.5 billion), up 4.93 percent year on year, according to a statement of the bank filed to the Shanghai Stock Exchange Monday.

Operating revenue increased 6.13 percent to 537.04 billion yuan.

At the end of last year, the bank's non-performing loan ratio stood at 1.81 percent, lower than the 2.37 percent recorded a year earlier.

The bank's provision coverage ratio, a measure of funds set aside to cover bad loans, rose to 208.37 percent at the end of last year from 173.4 percent in 2016.