Agricultural Bank of China

Agricultural Bank of China is one of the four largest state-owned commercial banks in China and provides retail banking services to its customers.

Categories

Financial and Banking  

#64

Rank

$168.48B

MarketCap CN

CN China

Country

Summary

Agricultural Bank of China (ABC) is one of the "Big Four" state-owned commercial banks in China. It was founded in 1951 as the Agricultural Cooperative Bank, and its name was later changed to Agricultural Bank of China in 1993.

ABC's history is closely tied to the development of China's agricultural sector. In the early years of its existence, the bank focused primarily on providing financial services to China's rural areas and the agricultural sector. As China's economy rapidly developed in the late 20th and early 21st centuries, ABC expanded its services and operations beyond agriculture, becoming a full-service commercial bank that offers a wide range of financial products and services to its customers.

In recent years, ABC has undergone a major overhaul and modernization to enhance its competitiveness and risk management capabilities. In 2010, the bank conducted a large-scale IPO and was listed on both the Shanghai and Hong Kong stock exchanges. ABC has since become one of the largest and most profitable banks in the world, with a focus on sustainable and responsible banking practices.


History

The Agricultural Bank of China (ABC) is one of the "big four" state-owned commercial banks in China. It was founded in 1951 with the goal of providing financial services to the rural areas of China.

In the early years, ABC focused on providing credit and other financial services to farmers, rural cooperatives, and rural enterprises. Over time, the bank expanded its services to include retail and corporate banking, as well as investment banking and asset management.

In the late 1990s and early 2000s, ABC underwent a major reform and restructuring process. The Chinese government aimed to modernize the country's banking sector and improve the efficiency and profitability of state-owned banks. As part of this process, ABC underwent a partial privatization, with the government reducing its stake in the bank.

In 2010, ABC launched an initial public offering (IPO) on the Shanghai and Hong Kong stock exchanges, becoming the first of the "big four" state-owned commercial banks to do so. The IPO was highly successful and raised over $19 billion, making it one of the largest stock market listings in history.

Since its IPO, ABC has continued to grow and expand its operations both domestically and internationally. The bank has a strong presence in China's rural areas and has become a major player in the country's financial services sector. In recent years, ABC has also been actively expanding its overseas presence, opening branches and setting up operations in countries such as Australia, Singapore, and the United Kingdom.

Today, the Agricultural Bank of China is one of the largest banks in the world, with over 22,000 branches and over 300,000 employees. The bank continues to play a key role in supporting China's rural economy and providing financial services to millions of people across the country.


Mission

The mission of the Agricultural Bank of China is to raise funds through market based on national credit, and act as a strategic pillar of the country in supporting the development of agriculture, rural areas, and farmers. Additionally, they strive to provide “Sannong” banking services for both urban and rural areas, maximize shareholders' returns, and help employee development. Their values include workplace happiness, inclusion, purpose, charitable giving and why people move on.


Vision

The Agricultural Bank of China's vision is to build an international first-class commercial banking group with featured operations, efficient and convenient services, diversified functions, as well as demonstrated value-creation capability. The bank provides a variety of corporate banking and retail services, aiming to become a competitive green financial brand with distinctive vision It operates through various segments such as personal, business, and investment banking; cash, wealth management; custody, payment, and other services.


Key Team

Mr. Shu Gu (Exec. Chairman )

Mr. Han Xu (Chief Information Officer )

Mr. Xuguang Zhang (Exec. VP & Exec. Director )

Dr. Li Lin (Exec. VP & Exec. Director )

Mr. Yi Zhang (Exec. VP )

Mr. Guoqiang Han (Company Sec. )

Mr. Wanjun Fu (Vice Chairman & Pres )

Mr. Mingde Yao (Gen. Mang. of the Fin. & Accounting Department )


Recognition and Awards
Agricultural Bank of China (ABC) has won the Bank of the Year Award in 2021, two special honors in Corporate Social Responsibility in 2013, an award for Corporate Culture Building in 2012, and Best Deals of 2011 for its CERs advance payment financing business with the Noble Group Limited. ABC is also listed on the Globee® Business Awards directory.

Products and Services

The Agricultural Bank of China (ABC) provides a wide range of financial products and services to its customers. Here is a list of some of the products and services offered by ABC:

Personal Banking: ABC offers a variety of personal banking services, including savings accounts, checking accounts, personal loans, and credit cards.

Corporate Banking: ABC provides a range of corporate banking services, including loans, trade financing, and cash management services, to help companies manage their finances.

Investment Banking: ABC provides investment banking services, including underwriting, financial advising, and market making, to help companies raise capital and access the financial markets.

Asset Management: ABC offers asset management services, including wealth management, investment funds, and insurance products, to help customers grow and protect their wealth.

International Banking: ABC has a strong presence in international banking, offering a range of services to customers who conduct business globally. This includes foreign exchange services, trade financing, and cross-border payment services.

Agricultural Finance: ABC is committed to supporting China's agricultural sector, and offers a range of financial services specifically designed to meet the needs of farmers, rural cooperatives, and rural enterprises.

Online Banking: ABC provides a range of online banking services, including mobile banking and internet banking, to help customers manage their finances and access banking services from anywhere.

Insurance: ABC offers insurance products, including life insurance, health insurance, and property insurance, to help customers protect themselves and their assets.

These are some of the products and services offered by the Agricultural Bank of China. The bank continues to evolve and expand its offerings to meet the changing needs of its customers and stay at the forefront of technological advancements.


References
Agricultural Bank of China
Leadership team

Mr. Shu Gu  (Exec. Chairman )

Mr. Han Xu  (Chief Information Officer )

Dr. Li Lin  (Exec. VP & Exec. Director )

Mr. Yi Zhang  (Exec. VP )

Mr. Xuguang Zhang  (Exec. VP & Exec. Director )

Industries

Financial and Banking

Products/ Services
Finance and insurance, consumer banking, corporate banking, investment banking, investment management, global wealth management, private equity, mortgages, credit cards
Number of Employees
Above 50,000
Headquarters
Beijing, China
Established
1951
Company Type
Public Limited Company
Company Registration
SEC CIK #0001501437
Revenue
Above - 1B
Traded as
601288.SS
Social Media

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Mon Apr 15 2024
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