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ABC becomes 2nd largest in total assets
(Xinhua)
Updated: 2006-02-06 08:48
The Agricultural Bank of China (ABC) is now the second largest bank in China
in terms of total assets, according to the bank's latest report.
The statistics from the ABC, one of China's big four commercial banks,
revealed that the bank's total assets had hit 4.88 trillion yuan (US$605
billion) by the end of 2005, second only to the Industrial and Commercial Bank
of China (ICBC).
According to the ABC, the bank's deposit balance exceeded 4 trillion yuan by
the end of last year, with the loan balance amounting to 2.8 trillion yuan.
The ABC said its non-performing loan (NPL) ratio had been whittled down to
26.31 percent by the end of last year, 0.51 percent lower than the beginning of
last year.
The ABC is still working on its joint-stock reform and listing plan in line
with China's commitments to the World Trade Organization to open its banking
industry to foreign competition by late 2006.
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