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Agricultural Bank of China


Agricultural Bank of ChinaThe Agricultural Bank of China (ABC) is the one of the biggest bank in the People's Republic of China. The Bank has branches throughout mainland China, and also in Hong Kong and Singapore. It employs over 300,000 people. As of 2004 it had an annual turnover of US$13.3 billion. By the end of 2005, the Agricultural Bank of China became the second largest bank in China in terms of total assets, which had hit 4.88 trillion yuan (US$605 billion), second only to the Industrial and Commercial Bank of China (ICBC).

The Agricultural Bank was the victim of the largest bank robbery in Chinese history in April 2007, when two vault managers at the Handan branch of the ABC in Hebei province embezzled almost 51 million yuan.

Banking Forum

Headquarters:Beijing, China
Web:www.abchina.com
Modified: 07.11.2007 | Inform about a mistake



Financial & Banking News


Financial & Banking News


Credit Suisse launches global credit business - 13.03.2008
Credit Suisse has combined its leveraged finance and investment grade businesses under a new group called the global credit business unit as part of its plan to align businesses across its global securities division.
Citigroup revamps mortgage business - 07.03.2008
Citigroup Inc. is cutting residential mortgage assets by $45bn and costs by $200m at the same time that Merrill Lynch discontinues origination at First Franklin, a sub-prime mortgage company the bank bought two years ago.
Ultra-rich Middle East investors target Russia - 06.03.2008
Russian hedge fund Pharos Financial claims it will raise more than $1bn from investors in the United Arab Emirates, Saudi Arabia and the other Gulf states.
Societe Generale fights back with internal "hackers" - 19.02.2008
Societe Generale is setting up an internal team of "hackers" to stress-test its information technology and risk management systems as part of a €50m bank-wide initiative to tighten its risk controls after falling victim to a trading scandal.
Mainland banks boost assets 20 percent - 14.02.2008
Mainland banks increased their overall assets by 20 percent last year with midsized joint-stock institutions leading the sector, according to China Banking Regulatory Commission data released yesterday.
Goldman bolsters MoneyGram bailout - 13.02.2008
Goldman Sachs is providing $500m in debt to troubled US payments company MoneyGram International as the investment bank raises the largest mezzanine fund to date and demand grows for this type of financing.


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