Headquartered in Dongcheng district, Beijing, Agricultural Bank of China is one of the Big Four banks in China. Known as AgBank, it has branches in China, Hong Kong, Tokyo, Singapore, Sydney, New York and Frankfurt.
AgBank was formed due to merger of Farmer’s Bank of China and Corporation Bank. It was called as The Agricultural Cooperation Bank at that time.
The bank offers products in different sectors such as retail consumer banking products, currency banking, business banking, corporate banking, credit facilities and investment banking products along with agro related services. It is a public sector bank owned by Government of the People's Republic of China.
AgBank became victim of largest bank robbery in China where two managers embezzled 51 million yuan in 2007. But the bank came back strongly in 2010 when it got listed on Shanghai Stock Exchange and Hong Kong Stock Exchange. It was last of the Big Four banks to go public. The IPO became became the world’s biggest initial public offering surpassing ICBC’s record in 2006. This record was not beaten till Alibaba’s IPO in 2014.
AgBank has employed 503,082 employees to cater its retail customers worldwide.