Top 10 Banks in the World 2017

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4. Agricultural Bank of China

The Agricultural Bank of China was founded by Mao Zedong in the year 1951, with the intention of working for the welfare of the rural peasants of China.


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Today, it mainly operates in the Personal Banking, Treasury Operations and Corporate Banking segments. The bank is headquartered in Beijing and currently has over 24,000 branches across China, Sydney, New York, Tokyo and London, among others, serving close to 3 million corporate customers and 320 million retail customers.

The Agricultural Bank of China has a history of being formed and dissolved multiple times. The Agricultural Cooperation Bank, which is widely recognized as the earliest predecessor of the Agricultural Bank of China was formed in 1951. This firm was formed as a result of a merger of the Farmers Bank of China and the Cooperation Bank.

In 1955, the first bank nearing the name of Agricultural Bank of China was formed, but was soon merged with the central bank in 1957. 1963 saw another agricultural bank being formed, which also merged with the central bank just two years later in 1965. The present day company of Agricultural Bank of China was formed in 1979, after being restructured into the Agricultural Bank of China Ltd. 2010 witnessed the bank going for an IPO in the Shanghai stock exchange as well as the Hong Kong stock exchange.  The IPO initially raised $19 billion, but once the Hong Kong and Shanghai over-allotment was completed, the final figure stood at $22.1 billion, making it the biggest IPO of the time, surpassing the ICBC narrowly.

The Agricultural Bank of China has transitioned over the years from a state-owned specialized bank to wholly state-owned commercial bank, and finally to a  state-controlled commercial bank. The firm has often faced financial trouble, with net nonperforming loans standing at almost 3% of total assets, but has always found ways to keep disaster at bay. The current President of the company, which employs over 5,00,000 employees, is Mr. Huan Zhao.

Revenue (in Billion of USD): 73.97

Net Profit (in Billion of USD): 26.69

Assets (in Billion of USD): 2837.6




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