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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.
- Xiang Junbo was sentenced to 11 years in prison, fined 1.5 million yuan, and had his assets confiscated by the Changzhou intermediate court in Jiangsu province,
- Xiang was found guilty of accepting as much as 18 million yuan in bribes between 2005 and 2017
More Chinese credit card borrowers may fall behind on repayments as coronavirus pandemic crushes income.
More Chinese credit card borrowers may fall behind on repayments as coronavirus pandemic crushes income.
Chinese banks are bracing for an unprecedented drop in profits this year as they grapple with the fallout of Covid-19.
Chinese banks are bracing for an unprecedented drop in profits this year as they grapple with the fallout of Covid-19.
The need for steep cuts at European banks is more acute, where such measures are a major plank in their plans to restore lacklustre profitability or bolster shareholder payouts. At the same time, they’re now set to receive unprecedented help from governments and regulators, making it more politically sensitive to put people out of work.
The need for steep cuts at European banks is more acute, where such measures are a major plank in their plans to restore lacklustre profitability or bolster shareholder payouts. At the same time, they’re now set to receive unprecedented help from governments and regulators, making it more politically sensitive to put people out of work.
The joint press conference, also attended by the State Administration of Foreign Exchange (SAFE) is the latest round of state support to prevent the world’s second-largest economy from going into a tailspin.
The joint press conference, also attended by the State Administration of Foreign Exchange (SAFE) is the latest round of state support to prevent the world’s second-largest economy from going into a tailspin.
The assessment would be a rebuff of the dire prediction by short-seller Kyle Bass, the hedge fund manager who had been forecasting Hong Kong’s “full-fledged banking crisis” in 2020, much like the financial crisis encountered by Iceland and Ireland a decade ago, according to a Bloomberg report.
The assessment would be a rebuff of the dire prediction by short-seller Kyle Bass, the hedge fund manager who had been forecasting Hong Kong’s “full-fledged banking crisis” in 2020, much like the financial crisis encountered by Iceland and Ireland a decade ago, according to a Bloomberg report.
The troubling sign of so many bank branches closing in one of Asia’s most important financial hubs occurred as protesters used bricks to smash the glass facade of the Bank of Communications’ branch on Pedder Street in Central.
The troubling sign of so many bank branches closing in one of Asia’s most important financial hubs occurred as protesters used bricks to smash the glass facade of the Bank of Communications’ branch on Pedder Street in Central.
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