ABC was first established as Agricultural Cooperative Bank in 1951 as a state-owned specialized bank.
In the 1970s, it evolved into a wholly state-owned commercial bank and later into a commercial bank controlled by the state. The bank is headquartered at Beijing, China and is one of the largest banks not only in China but in the world.
The Bank is listed in both Shanghai Stock Exchange and the Hong Kong Stock Exchange.
The bank has a well-established customer base of over 300 million customers, about 3 million corporate clients through its network of 24,000 branches are spread across the world.
Being China's third largest lender by assets and one amongst the Big 4 Chinese banks, the bank strives to delve deep into the international market and make way for diversified services and eventually become an international first-class and large-scale commercial bank in the world by capitalizing on its widespread distribution network, comprehensive portfolio, and technologically advanced IT platform and services.
The company operates through four segments currently: Corporate Banking, Treasury Operations, Personal Banking, and Others. The Government owns a considerable share which helps the bank sell its products. One of the key problems ABC faces is that its interest rates of outstanding rates are low and this might be affected eventually as the government lowers its rates further. The bank has a huge scope to expand its operations, leaving its financial structure unaffected. There is a lot of migration seen in China in terms of a huge population moving from rural to urban areas. This would help the bank as their customers’ income would grow, fetching increased business with the banks. ABC owns around 444,000 employees.