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Agricultural Bank of China is one of the big four state-owned commercial banks in the People's Republic of China. The other three are Industrial and Commercial Bank of China, China Construction Bank and Bank of China. The Agricultural Bank of China was founded in 1951 and is based in Beijing.
- 250 bank branches, 19 per cent of the city’s outlets, were closed the whole day while another 100 closed earlier than usual
- ATMs, online banking remain open
The squeeze on profitability underscores how China’s financial industry is grappling with survival after more than 12 months of a bruising trade war with the United States, amid slowing demand for loans and investments in the local economy’s slowest quarterly growth pace in decades.
The squeeze on profitability underscores how China’s financial industry is grappling with survival after more than 12 months of a bruising trade war with the United States, amid slowing demand for loans and investments in the local economy’s slowest quarterly growth pace in decades.
Non-bank players putting ‘significant pressure’ on business models for lenders in Asia, according to McKinsey, with lenders needing to seek scale to boost margins
Non-bank players putting ‘significant pressure’ on business models for lenders in Asia, according to McKinsey, with lenders needing to seek scale to boost margins
Big Chinese lenders have long sacrificed profits in the name of national service. For shareholders already skittish about the trade war, rising corporate defaults and slowing economic growth, it’s yet another reason to sell.
Big Chinese lenders have long sacrificed profits in the name of national service. For shareholders already skittish about the trade war, rising corporate defaults and slowing economic growth, it’s yet another reason to sell.
Based in Inner Mongolia’s Baotou city, the bank aggressively expanded its lending to rural communities, who are now seeing more lending options open up.
Based in Inner Mongolia’s Baotou city, the bank aggressively expanded its lending to rural communities, who are now seeing more lending options open up.
Industrial and Commercial Bank of China, the world’s largest lender by assets, as well as China’s other “Big Four” banks and Ping An Insurance are all in the top 10.
Industrial and Commercial Bank of China, the world’s largest lender by assets, as well as China’s other “Big Four” banks and Ping An Insurance are all in the top 10.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
Fintech firms are increasingly positioning themselves as banks’ tech partners, rather than disrupters
Fintech firms are increasingly positioning themselves as banks’ tech partners, rather than disrupters
Leading Chinese banks reported lacklustre first quarter profit growth, with flat, even shrinking, net interest margins. Their cheaper valuations, however, make their stock a bargain for the next three months, according to Credit Suisse.
Leading Chinese banks reported lacklustre first quarter profit growth, with flat, even shrinking, net interest margins. Their cheaper valuations, however, make their stock a bargain for the next three months, according to Credit Suisse.
About half of new loans issued by China’s big six banks last year went to individual property buyers, despite Beijing’s orders to lend to private companies.
About half of new loans issued by China’s big six banks last year went to individual property buyers, despite Beijing’s orders to lend to private companies.
US economist Michael Pettis of Peking University says China GDP is overestimated as bad debt is not written down.
US economist Michael Pettis of Peking University says China GDP is overestimated as bad debt is not written down.
Least capitalised of the mainland’s Big Five state-owned lenders plans to sell up to 27.5 billion shares to seven major institutions, including the Finance Ministry, Central Huijin Investment, and China National Tobacco
Least capitalised of the mainland’s Big Five state-owned lenders plans to sell up to 27.5 billion shares to seven major institutions, including the Finance Ministry, Central Huijin Investment, and China National Tobacco
Agricultural Bank of China times its move with regulators’ plans to allow banks more ways to replenish their capital
Agricultural Bank of China times its move with regulators’ plans to allow banks more ways to replenish their capital
Massive deal compares with total IPO fundraising on the A-share market last year of US$36.36 billion
Massive deal compares with total IPO fundraising on the A-share market last year of US$36.36 billion
With 23,547 branches at the end of last year, Agricultural Bank of China has one of the biggest networks of any bank in the world. But its reach does not far go beyond the mainland.
With 23,547 branches at the end of last year, Agricultural Bank of China has one of the biggest networks of any bank in the world. But its reach does not far go beyond the mainland.
Bad debt at the mainland's biggest banks continued to climb in the third quarter, sparking a warning on mounting risk and potential corporate defaults from a top central bank official.
Bad debt at the mainland's biggest banks continued to climb in the third quarter, sparking a warning on mounting risk and potential corporate defaults from a top central bank official.
Agricultural Bank of China, the mainland's third-largest lender in terms of market capitalisation, saw the slowest profit growth since its 2010 listing but last year's results were in line with market expectations, with slightly improved credit quality and a more or less stable lending margin.
Agricultural Bank of China, the mainland's third-largest lender in terms of market capitalisation, saw the slowest profit growth since its 2010 listing but last year's results were in line with market expectations, with slightly improved credit quality and a more or less stable lending margin.