Agricultural Bank of China Limited was formed by the merger of Farmers Bank of China and Cooperation Bank in 1951, in Beijing, as a state-owned bank of the People's Republic of China.
Presently, main function of ABC is supporting development of agriculture on the basis of governmental loans in accordance with the legislation and state policy of China. In this regard, the largest income Agricultural Bank of China yields from lending and depositing.
Presently, Agricultural Bank of China is one of the four largest state banks of China and occupy the 5th and 10th positions in the world rating by the size of profit before tax and by the size of capital accordingly.
Bank has 23500 branches and 9 subsidiaries all over the world. Client base in China, consist of 409 million private and about 3 million corporate clients. Furthermore, bank has the broad correspondent network, consisting of 1424 correspondent banks in 120 countries in the world.
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