Agricultural Bank of China (ABC) on Thursday partnered with Standard Chartered to explore joint business opportunities. The two companies signed a strategic alliance with the Asia-focused British firm as it prepared for the roadshow of the Shanghai portion of its anticipated $21 billion IPO. The agreement may pave the way for Standard Chartered’s role as a [...]
Agricultural Bank of China’s (ABC) initial public offering may not happen this year as supposedly planned due to differences over the bank’s future related to farmers and the agricultural sector. “Top policy makers are yet to reach a consensus on whether to run the lender as a commercial entity or maintain its rural finance unit [...]
Agricultural Bank of China (ABC) plans to introduce a strategic investor specializing in rural finance and create a business division concentrating on rural clients. The decision is part of ABC’s internal reform strategy and complies with government requirements to improve services to rural areas, although such areas have not been as profitable as urban markets. [...]
China’s top banking regulator said Thursday that the country’s lenders are well positioned to withstand the global financial crisis. Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), highlighted the important role banks have played in boosting the domestic economy through loan growth. He also promised that the government would take steps to prevent [...]
Agricultural Bank of China (ABC) is tipped to begin its journey next month toward a US$13 billion dual listing in Shanghai and Hong Kong. The process will begin in the first two weeks of March with the bank, China’s second-largest lender by assets and the last unlisted member of the Big Four, inviting applications from [...]
China’s banks may have distributed as much as US$175 billion in new loans in January, a single-month record. It is claimed that the Big Four state banks lent the equivalent of 20% of their full-year target during the month. China Construction Bank led the way with more than US$36 billion in new loans, Industrial and [...]
China’s government will inject US$30 billion into Agricultural Bank of China to help the lender prepare for an eventual listing, China’s Premier Wen Jiabao told the Financial Times in an interview that, the final decision had been made to put the money in the bank, which is the last of China’s big four state-owned lenders [...]
Agricultural Bank of China Ltd. (ABC) rose 19.1% to US$7.48 billion in 2008. The lender’s return on assets was 0.79% and its return on equity was 19.1%. ABC President Zhang Yun said the bank saw “a great improvement in profitiability” in 2008. The bank, which became a joint stock company in early January 2009, planned [...]
