Agricultural Bank of China (ABC) provides a veritable alphabet soup of products and services to customers across China. One of the country’s largest state-owned commercial banks, ABC specializes in financing and providing services to agricultural, industrial, commercial, and transportation enterprises in rural areas. The bank also offers personal banking, credit cards, and foreign exchange services. Founded in 1951, ABC operates approximately 31,000 branches and banking offices, as well as more than 30 provincial-level offices, serving every county in China. Overseas it operates branches in Hong Kong and Singapore, and representative offices in London, New York, and Tokyo. [1]

Criticisms

• Lender probe reveals 61b yuan scandal Mainland auditors have uncovered more than 61 billion yuan (HK$59.3 billion) worth of irregularities at the Agricultural Bank of China, the country’s third-largest state-owned commercial bank. [2]

• China Moves to Halt Fraud After String of Bank Scandals Seeking to halt a recent increase in bank corruption, China published rules Monday offering generous rewards to bank employees who expose corruption. [3]