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Agricultural Bank of China Ltd ADR ACGBY

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Morningstar’s Analysis

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Company Profile

Business Description

ABC evolved from a state-owned specialized bank to a state-controlled commercial bank. It listed on the Hong Kong and Shanghai Stock Exchanges in 2010. Headquartered in Beijing, ABC operates more than 20,000-branch network in China, providing corporate and retail banking products and services, and carries out treasury operations for its own accounts or for its customers. Shareholders Central Huijin, China's state-owned investment company, and the Ministry of Finance own 40% and 39%, respectively. Corporate banking, retail banking, and wholesale banking accounted for 42%, 35%, and 8% of profit before tax, in 2018, respectively. Rural banking and urban banking contributed to 37% and 63% profit before tax in 2019.

Contact
50 Connaught Road Central, 25th Floor, Agricultural Bank of China Tower
Hong Kong, China, People's Republic of
Sector Financial Services
Industry Banks - Diversified
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type
Employees 455,095