TOPIC

/ company

Agricultural Bank of China

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.

Chairman / President

Gu Shu

CFO / Finance Director

Zhang Xuguang

Industry

Banking

Website

abchina.com

Headquarters address

No.69, Jianguomen Nei Avenue, Dongcheng District, Beijing, P.R.China,

Stock Code

SEHK:1288

Year founded

1951

last updated:

27 August, 2024

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27 Nov 2024 - 7:31PM

Agricultural Bank of China

Founder of an early AI firm in China steps back as GenAI takes spotlight

Losses at the image recognition firm have surpassed those of 2023, as it grapples with challenges from new technology and client concentration.

China weighs injecting US$142 billion of capital into top banks

Banks may become collateral damage of China’s policy bazooka

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

Chinese banks buoyant amid stock market tumult

Led by ICBC, CCB, ABC and BOC, 42 mainland-listed banks have gained 19 per cent on average this year, trouncing a 4.2 per cent decline in the benchmark CSI 300 Index.

China’s interbank system promoted as safeguard against Swift consequences

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Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

China’s banks to sell US$60 billion of loss-absorbing bonds to meet PBOC’s norms

ICBC and BOC line up issuance plans for 60 billion yuan worth of total loss-absorbing capacity (TLAC) bonds as Chinese G-SIBs (global systemically important banks) are expected to sell 440 billion yuan of these newly introduced bonds.

China’s ICBC, Agricultural Bank post profit drops on margin squeeze

The government may press state banks to continue cutting lending rates, further eroding their margins, analyst says.

Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.

‘Positive signs of recovery’: China’s largest state-owned banks post earnings growth

Results came despite government calls to slash rates and inject liquidity into the country’s slumping property sector.

BOC, China Everbright among banks injecting billions into ‘whitelist’ properties

Leading Chinese banks have injected billions of yuan into housing projects with the aim of financing the completion of pre-sold but yet-to-be-completed homes across the country.

Bank of China plans US$21 billion bond sales to meet capital requirements

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China’s biggest banks lower deposit rates for third time to boost profitability

China’s largest state-owned banks are lowering their deposit rates for the third time in 2023, in their latest effort to ease the pressure on their net interest margins and to improve profitability.

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China’s mortgage-rate cut to put profit squeeze on state banks

Banks will cut rates on 16 trillion yuan (US$2.2 trillion) of existing first-home loans, helping households save up to 109 billion yuan in interest, ANZ says. The cut will have a tangible impact on profit margins.

Agricultural Bank of China reports a higher-than-expected interim profit

One of China’s biggest banks has issued a warning about slimmer net interest margins even as it reported a higher-than-expected interim profit, as the world’s second-largest economy grapples with slowing growth and a property crisis.

China names new central bank governor as twice-a-decade finance conference nears

Analysts say Pan Gongsheng’s many years of experience at the People’s Bank of China give him a critically important vantage point from which to tackle financial risks and shore up economic growth.

Communist Party mouthpiece defends Chinese banks after gloomy Goldman report

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Investors have been snapping up Chinese banking stocks at a pace not seen since the 2015 market bubble in the hopes that lenders’ profit growth will accelerate and government-led drives to boost valuations and improve efficiency at SOEs will underpin sentiment.

China’s top banks plan US$5.8 billion of bond sales to plug capital shortfall

China’s megabanks are planning at least 40 billion yuan (US$5.8 billion) of bond sales, kicking off a major funding push to comply with global capital requirements by early 2025.

Former Bank of China chief Liu Liange facing corruption investigation

The 62-year-old was abruptly removed from his post as chairman and party chief at the leading state-owned lender in February.

China banks offer billions to developers after Beijing confirms rescue plan

After the PBOC and the CBIRC officially confirmed a 16-point rescue plan for the real estate sector on Wednesday, banks have been rushing to offer financing support for several struggling companies.

ICBC expects China’s zero-Covid policy to weigh on loan quality

ICBC, the world’s largest bank by assets, sees more challenges ahead in staving off the impact of China’s strict zero-Covid measures on its loan quality.

Agricultural Bank’s interim profit rises as it defies economic woes

China’s US$52 trillion banking industry is being closely scrutinised by investors as the country’s rolling Covid-19 lockdowns and a deepening property crisis is slowing economic growth.

Chinese banks overflow with cash that nobody wants to borrow

Struggling to find enough clients, banks have been swapping bills with each other just so they can meet regulatory requirements for corporate lending.