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Listed Company in China

Agricultural Bank of China Limited (601288)

Date:2021-03-21 View:401

The bank's predecessor can be traced back to the agricultural cooperative bank established in 1951. Since the end of 1970s, the bank has experienced different stages of development, such as national professional banks, state-owned commercial banks and state-owned holding commercial banks. In January 2009, the bank was restructured as a company limited by shares. In July 2010, the bank was listed on the Shanghai Stock Exchange and the stock exchange of Hong Kong.

As one of the major comprehensive financial service providers in China, the bank is committed to building a world-class commercial bank group with obvious business characteristics, efficient and convenient services, complete functions and outstanding value creation ability. With its comprehensive business portfolio, huge distribution network and leading technology platform, the bank provides customers with a variety of corporate banking and retail banking products and services, and carries out financial market business and asset management business. Its business scope also covers investment banking, fund management, financial leasing, life insurance and other fields. By the end of 2016, the bank had total assets of 19570.061 billion yuan, loans and advances of 9719.639 billion yuan, deposits of 15038.001 billion yuan, capital adequacy ratio of 13.04%, and net profit of 184.06 billion yuan.

By the end of 2016, the bank had 23682 domestic branches, including headquarters, head office business department, 3 head office franchised institutions, 37 Tier-1 (directly subordinate) branches, 365 tier-2 branches (including provincial branch business department), 3506 Tier-1 sub branches (including municipality directly under the central government, sub branch business department directly under the central government, tier-2 branch business department), 19 branches, 714 grassroots business institutions and 55 other institutions. Overseas branches include 10 overseas branches and 3 overseas representative offices. The bank has 14 major holding subsidiaries, including 9 in China and 5 overseas.

Since 2014, the FSB has included the bank in the list of globally systemically important banks for three consecutive years. In 2016, the bank ranked 29th among the Fortune 500 in the United States, and 5th among the banker's top 1000 global banks in terms of tier 1 capital. The bank's standard & Poor's issuer credit rating is a / A-1, and Fitch's long / short-term issuer default rating is a / F1.


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