4. Agricultural Bank of China Limited(ABC, 中国农业银行)

4. Agricultural Bank of China Limited(ABC, 中国农业银行)

Agricultural Bank of China Limited(ABC, 中国农业银行) is one of the largest banks in the world and ranked as number 4th for the best banks in the world, 2014.

This Agricultural Bank of China was established in 1951 and the headquarters in Dongcheng District, Beijing. Not only the China, be ABC has branches throughout the mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul and Singapore.

ABC went through a numerous form and abolishment since the establishment in 1951. 

The ancestors of ABC, Farmers Bank of China and Cooperation bank merged to form the Agricultural Cooperation Bank however this bank merged into central bank in 1952.

The first bank with the name of Agricultural Bank of China was established in 1955 however it was merged into central bank again in 1957.

In 1963, the Chinese government formed another agricultural bank however it didn't last more than two years and merged into central bank again.

Nowadays' Agricultural Bank of China was actually established in February 1979, restructured to form a holding company called Agricultural Bank of China Limited. 

It was listed on the Shanghai and Hong Kong stock exchanges in July 2010.

Industry

Banking, Financial services 

Founded

1951 

Headquarters

Beijing, China 

Key people

Jiang Chaoliang (Chairman)

Zhang Yun (President) 

Products

Finance and insurance

Consumer Banking

Corporate Banking

Investment Banking

Investment Management

Global Wealth Management

Private Equity

Mortgages

Credit Cards 

Revenue

CN¥ 377.73 billion (2011)[1] 

Net income

CN¥ 121.95 billion (2011)[1] 

Total assets

CN¥ 11.677 trillion (2011)[1] 

Total equity

CN¥ 649.78 billion (2011)[1] 

Owners

Government of the People's Republic of China 46.6% 

Employees

444,238 (2012) 

The Bank had 23,472 domestic branch outlets, including the Head Office, the Business Department of the Head Office, three specialized institutions managed by the Head Office, 37 tier-1 branches (including branches directly managed by the Head Office), 348 tier-2 branches (including business departments of branches in provinces), 3,482 tier-1 sub-branches (including business departments in municipalities, business departments of branches directly managed by the Head Office and business departments of tier-2 branches), and 19,600 other establishments. 

Overseas branch outlets consisted of four overseas branches and five overseas representative offices. Major subsidiaries consisted of nine domestic subsidiaries and three overseas subsidiaries.

In 2012, the Bank ranked No. 84 in Fortune’s Global 500, and ranked No. 5 in The Banker’s “Top 1000 World Banks” list in terms of profit before tax for the year of 2011. In 2012, the Bank’s issuer credit ratings were assigned A/A-1 by Standard & Poor’s; the bank deposits ratings were assigned A1/P-1 by Moody’s Investors Service; and the long-/short-term foreign-currency issuer default ratings were assigned A/F1 by Fitch Ratings. The Bank’s outlook ratings assigned by the above credit rating agencies were “stable”.

Award

In 2012, Hong Kong Branch is awarded “Caring Company” by the Hong Kong Council of Social Service. It is also awarded charity medals by Liason Office of the Central People’s Government in the Hong Kong SAR.